This bill amends existing laws concerning the Wyoming cultural trust fund and the Wyoming wildlife and natural resource trust account by removing their inviolate status, thereby enhancing their investment potential. It introduces new spending policies that permit investments in equities, such as corporate stocks, and establishes income accounts for both trust funds, which will include various contributions and earnings. The bill outlines a framework for redirecting investment earnings back into the corpus of these funds and sets specific percentages of the five-year average market value available for grants each fiscal year—three percent for the cultural trust fund and four percent for the wildlife and natural resource trust account. It also clarifies that certain funds, like special appropriations and unobligated balances, will not count against these spending limits.

Additionally, the bill provides new guidelines for the Wildlife and Natural Resource Trust Account Board, empowering it to evaluate and approve grant applications for both small and large projects, with large projects being forwarded to a select committee for further review. It specifies that grant funds can only be awarded to nonprofit and governmental organizations for projects that support Wyoming's wildlife and natural resources, explicitly prohibiting the use of these funds for acquiring real property or water rights. The legislation repeals outdated provisions that restricted investment strategies, allowing for broader investment options, and ensures that annual spending limits will not apply to funds deposited in the income accounts before July 1, 2025. The act is 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