The bill establishes the Wyoming Energy Dominance Fund, which will be administered by the Wyoming Energy Authority. This fund is designed to support various energy-related projects and initiatives, specifically focusing on coal innovation, natural gas, enhanced oil recovery, and other energy needs, while explicitly excluding wind and solar projects. The fund will receive contributions from various sources, including grants and loans, and will be continuously appropriated to the Wyoming Energy Authority for the purpose of providing grants and loans for applied research and commercial development projects. The bill outlines specific requirements for matching funds, loan conditions, and reporting obligations for recipients of grants and loans.

Additionally, the bill modifies the distribution of severance tax revenues, specifying that for fiscal years 2023 through 2026, funds will be equally divided between the permanent Wyoming mineral trust fund and the common school account. Starting in fiscal year 2027, the distribution will change to allocate two-thirds of the funds to the Wyoming Energy Dominance Fund and one-third to the permanent land fund. The bill also includes provisions for reporting and oversight, requiring the Wyoming Energy Authority to notify legislative committees of proposed expenditures from the fund. The act is set to take effect on July 1, 2026, and will be repealed on December 31, 2028, with any remaining funds reverting to the permanent Wyoming mineral trust fund reserve account.

Statutes affected:
Introduced: 37-5-503, 39-14-801
Engrossed: 37-5-503, 39-14-801