The bill amends various provisions related to the management and distribution of public funds in Wyoming, particularly focusing on the Permanent Wyoming Mineral Trust Fund and the Legislative Stabilization Reserve Account. It establishes a new spending policy for the Permanent Wyoming Mineral Trust Fund, which will allow for an annual spending amount equal to five percent of the previous five-year average market value of the fund. Starting July 1, 2026, any investment earnings exceeding this spending policy will be transferred from the general fund to the Legislative Stabilization Reserve Account. Additionally, the bill outlines conditions under which unobligated funds can be transferred from the Legislative Stabilization Reserve Account to the general fund, particularly when investment earnings are insufficient to meet the annual spending policy.

The bill also includes several deletions and insertions to existing laws, such as removing the legislative stabilization reserve account from certain appropriations and specifying that no transfers from this account can occur except under defined circumstances. It clarifies that appropriations or transfers may only be made to permanent funds or the general fund in accordance with the new provisions. Furthermore, the bill repeals certain obsolete language and provisions, ensuring that the legislative stabilization reserve account is managed in a manner that preserves its integrity while allowing for necessary fiscal flexibility. The act is set to take effect on July 1, 2026.

Statutes affected:
Introduced: 9-4-719