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, allowing for the transfer of unobligated funds to the general fund and specifying new conditions for fiscal year 2025 and beyond. It includes provisions for the board to borrow up to $50 million from the legislative stabilization reserve account to support the funding program, with repayment terms outlined. The act is set to take effect immediately upon completion of the necessary legislative processes.

Statutes affected:
Introduced: 9-4-719