This bill modifies the existing regulations governing the Wyoming cultural trust fund and the Wyoming wildlife and natural resource trust account by eliminating their inviolate status, which permits broader investment opportunities. It introduces new spending policies, including the establishment of income accounts for both funds, and allows the state treasurer to invest unobligated balances in equities such as stocks. Investment earnings are required to be redirected into the respective fund's corpus, and a spending policy is set that limits grant awards to a percentage of the five-year average market value of the trust funds, promoting sustainable funding for cultural and natural resource initiatives.

Key changes include the removal of language that previously classified the funds as permanent or perpetual trusts, thus enabling more flexible investment strategies. The bill also establishes the Wildlife and Natural Resource Trust Account Board to evaluate grant applications and manage funding for small and large projects, with grants limited to nonprofit and governmental organizations. Additionally, it repeals certain provisions related to the trust funds, allowing for their investment in equities and stocks, and specifies that annual spending limits on income accounts will not apply to funds deposited before July 1, 2025, reverting to previous obligations after that date. The act is scheduled to take effect on July 1, 2025.

Statutes affected:
25LSO-0153 v0.2: 9-2-2302, 9-2-2303, 9-2-2304, 9-2-2306, 9-2-2307, 9-15-103, 9-15-104, 9-15-105, 9-4-715