The bill establishes the Wyoming dividend account within the legislative stabilization reserve account, allowing for the investment of funds and the distribution of earnings to qualifying Wyoming residents. The account will be funded through legislative appropriations, and the state treasurer will manage the investments. To qualify for dividend payments, residents must meet specific criteria, including U.S. citizenship or permanent residency, continuous residency in Wyoming for the previous year, and no felony convictions during that time. Payments will be made equally to all qualifying residents upon legislative authorization.

Additionally, the bill amends existing law regarding the investment earnings spending policy for permanent funds. It changes the starting fiscal year for certain appropriations from 2016 to 2024 and specifies that a portion of the earnings exceeding a set threshold will be credited to the newly created Wyoming dividend account. Specifically, an amount equal to 0.5% of the previous five-year average market value of the trust fund will be allocated to the dividend account before any remaining funds are distributed to other accounts. The act is set to take effect on July 1, 2024.

Statutes affected:
Introduced: 9-4-719