The bill proposes the repeal of the strategic investments and projects account and makes several amendments to existing laws regarding public funds. It establishes the Wyoming state penitentiary capital construction account, which will now receive funds previously allocated to the strategic investments and projects account. Specifically, the state treasurer is required to transfer $10 million annually from the general fund to the penitentiary account starting June 30, 2027, until July 1, 2038. The bill also includes provisions for the transfer of all funds from the strategic investments and projects account to the general fund by July 1, 2026, and mandates that any unexpended funds appropriated from this account before that date will also be paid from the general fund.

Additionally, the bill requires the state auditor to report to the joint appropriations committee on the amounts transferred from the strategic investments and projects account to the general fund by October 31, 2026, and again by October 31, 2027. The effective date for the provisions of this act is set for July 1, 2026. The bill aims to streamline the management of public funds by eliminating the strategic investments and projects account and reallocating its resources to the general fund and the penitentiary capital construction account.

Statutes affected:
Introduced: 9-4-220, 9-4-719