The bill amends existing laws regarding the investment of public funds by the state treasurer, specifically focusing on investments in Wyoming community development authority bonds. It establishes that the state treasurer is required to invest up to sixty million dollars from the permanent Wyoming mineral trust fund in bonds issued by the authority to finance mortgage loans for veterans and first-time homebuyers at a rate two percent below the available mortgage rate. Additionally, it clarifies that the limitation on specific public purpose investments does not apply to these investments, and this provision will sunset on July 1, 2028.

Furthermore, the bill modifies the permissible investments section to exclude these specific investments from the overall cap of one billion dollars on state funds invested for specific public purposes. The state treasurer is also mandated to provide an annual report detailing all such investments to relevant committees. The act is set to take effect on July 1, 2025.

Statutes affected:
Introduced: 9-4-715, 9-7-107