This joint resolution proposes an amendment to the Wyoming Constitution aimed at modernizing the language related to the investments of the Permanent Wyoming Mineral Trust Fund. Specifically, it clarifies that all investment earnings, rather than just income, from the fund shall be deposited into the general fund on an annual basis. The amendment seeks to ensure that the proceeds from an excise tax on the severing or extracting of minerals, which includes coal, petroleum, natural gas, and oil shale, are properly allocated and that the fund remains protected for the benefit of future generations.
Additionally, the bill removes the term "income" and replaces it with "earnings" to broaden the scope of what is considered for deposit into the general fund. This change reflects a more comprehensive understanding of the financial benefits derived from the fund's investments. The proposed amendment will be submitted to the electors of Wyoming for approval or rejection in the next general election, requiring a majority vote to become part of the Constitution.