January 29, 2019
The Wyoming Legislature's website has provided a "Summary of Bills" that are currently before committees. In order to help you to remain informed we will be publishing a list of those summaries for one committee each day.
SF0005 19LSO-0084 Budget reserve account-repeal.
This bill would eliminate the Budget Reserve Account (BRA) for purposes of receiving and appropriating funds. Severance taxes and federal mineral royalties currently directed to the BRA would be redirected to the General Fund. The bill would also require a reserve amount of 5 percent to be maintained in the General Fund.
SF0011 19LSO-0189 Budget submission deadline.
This bill would move the budget submission deadline for the Governor's budget recommendations to the Legislature from December 1 to the third Monday in November.
HB0077 19LSO-0094 Cigarette tax administration.
This bill would simplify the formula for the distribution of cigarette tax revenue to the state General Fund and local governments. The net distribution would be revised from 85.1% to the General Fund and 14.9% to local governments to 85% and 15%, respectively. The distribution among and within local governments would not be changed.
HB0078 19LSO-0190 Education major maintenance funding.
This bill would revise the distribution of major maintenance funding for community colleges and K-12 school districts to provide for quarterly payments. The bill would also increase the percentage of unrestricted community college operating funds that may be carried forward to a subsequent biennium from 8 percent to 15 percent.
HB0079 19LSO-0191 School finance interfund loans.
This bill would revise the source of interfund cashflow loans to the School Foundation Program Account from the Common School Account within the Permanent Land Fund to the Legislative Stabilization Reserve Account, to the extent funds are available. The interest rate would be the average interest rate on State pooled funds from the previous year.
SF0063 19LSO-0196 LSRA investments.
This bill would require the first $500,000,000 in the Legislative Stabilization Reserve Account (LSRA) to be invested in short-term fixed income investments, which are considered more liquid than other asset classes. The bill would authorize up to 55% of the funds in the LSRA that exceed $500,000,000 to be invested in equities in accordance with investment policy statements adopted by the State Loan and Investment Board that take into consideration foreseeable needs of the LSRA.
HB0080 19LSO-0185 School capital construction-supplemental budget. This bill would provide supplemental appropriations for school major maintenance payments, charter school lease payments, and school capital construction projects, including school safety and security projects. The bill would also reappropriate certain funds for safety and security projects and modular building projects. Follow along with us here: https://www.wyoleg.gov/Legislation/committeeBills/2019