This bill amends existing laws governing the Wyoming cultural trust fund and the Wyoming wildlife and natural resource trust account, primarily by removing the inviolate status of these funds to enhance their investment potential. Key changes include the deletion of language that previously classified the funds as permanent or perpetual trusts, allowing for more flexible investment strategies. The bill establishes new spending policies, permitting the state treasurer to invest unobligated balances in equities, including stocks, and creates income accounts for both trust funds. It outlines a process for calculating spending based on a percentage of the five-year average market value of the respective trust funds, with earnings from investments redirected into the trust fund's corpus.

Additionally, the bill introduces provisions for the Wildlife and Natural Resource Trust Account Board, enabling it to receive and evaluate grant applications for various projects. The board can approve small project grants and forward larger applications to a select committee for review, with a spending policy governing the appropriation of funds from the income account. Grants are limited to nonprofit and governmental organizations, and the use of funds for acquiring real property or water rights is explicitly prohibited. The legislation also repeals outdated provisions that restricted investment strategies and ensures that annual spending limits on income accounts do not apply to funds deposited before July 1, 2025, with the act set to take effect on that date.

Statutes affected:
25LSO-0153 v0.2: 9-2-2302, 9-2-2303, 9-2-2304, 9-2-2306, 9-2-2307, 9-15-103, 9-15-104, 9-15-105, 9-4-715