The bill amends the distribution of federal mineral royalties received by the state of Wyoming, specifically addressing the allocation of revenues exceeding $200 million. It introduces a new subsection (p) to the existing law, which stipulates that for fiscal year 2026 and each subsequent year, any revenue exceeding the amount forecasted in the last revenue estimate will be split equally between the common school permanent fund reserve account and the permanent Wyoming mineral trust fund reserve account. Additionally, the bill modifies existing provisions regarding the distribution of funds to the school foundation program and budget reserve accounts, ensuring that appropriations are made according to the updated structure.

Furthermore, the bill repeals obsolete provisions found in subsections (k), (m), and (n) of the current law, streamlining the distribution process. The effective date for these changes is set for July 1, 2025. Overall, the bill aims to enhance the management of state funds derived from mineral royalties, ensuring a more efficient allocation to support educational and trust fund initiatives.

Statutes affected:
Introduced: 9-4-601