The bill establishes a local water system funding program aimed at providing financial assistance to cities, towns, and special districts for improvements to community public water and wastewater systems. It creates new sections in the law, specifically W.S. 16-1-401 and 16-1-402, which define the program and outline its administration by the state loan and investment board. The board is tasked with establishing an application process, reviewing applications, administering financial assistance, conducting annual audits, and reporting to legislative committees. Eligible projects for funding include upfront costs, planning assistance, local matching funds, and costs related to joining regional systems, among others.

Additionally, the bill modifies the distribution of revenues from the permanent Wyoming mineral trust fund reserve account. It amends W.S. 9-4-719 to change the fiscal year for certain transfers from 2020 to 2025 and introduces new provisions for transferring amounts to the strategic investments and projects account and the legislative stabilization reserve account. The state loan and investment board is also required to create rules necessary for implementing the act, which takes effect immediately upon completion of legislative processes.

Statutes affected:
Introduced: 9-4-719