This bill proposes the repeal of the Strategic Investments and Projects Account and makes several amendments to existing laws regarding public funds in Wyoming. It establishes the Wyoming State Penitentiary Capital Construction Account, which will no longer be part of the now-repealed Strategic Investments and Projects Account. The bill specifies that funds in the new account can only be expended upon legislative appropriation and outlines a process for transferring $10 million annually from the general fund to this account until July 1, 2038. Additionally, it amends the investment earnings and spending policies related to the Permanent Wyoming Mineral Trust Fund Reserve Account, redirecting certain funds to a new Legislative Stabilization Reserve Account instead of the Strategic Investments and Projects Account.

The bill also includes provisions for the transfer of any remaining funds in the Strategic Investments and Projects Account to the general fund by July 1, 2026, and mandates reporting by the state auditor on these transfers. The effective date for the changes outlined in the bill is set for July 1, 2026. Overall, the legislation aims to streamline the management of public funds and ensure that resources are allocated more effectively within the state's financial framework.

Statutes affected:
26LSO-0123 v0.5: 9-4-220, 9-4-719