Wyoming House Bill HB0292

Wyoming 2025 Regular Session

• Introduced: 1/30/25
• Report Pass: 2/5/25
• Failed: 2/10/25

Caption

Budget reserves-recommended appropriation amount.

Impact

This bill is poised to affect Wyoming's fiscal framework significantly. By mandating a portion of the general fund be earmarked for the budget reserve account, the state is likely to enhance its cash flow management and financial flexibility. This means that the state would have a more robust budget reserve, which could mitigate risks associated with economic fluctuations or revenue shortfalls. Furthermore, it creates a more structured approach for state financial planning, potentially leading to a more efficient allocation of resources in future budgets.

Summary

House Bill 0292, titled the Budget Reserves-Recommended Appropriation Amount, aims to amend existing regulations surrounding the state's budgetary process. The bill focuses on how the governor recommends appropriations from estimated general fund receipts to the budget reserve account. It seeks to establish a systematic requirement for the governor to allocate a specific amount from the general fund to the budget reserve account during the preparation of the overall state budget. This action is intended to bolster the state's fiscal stability by ensuring that sufficient funds are reserved for unforeseen expenses or budget shortfalls.

Contention

While the bill has its proponents who argue for increased fiscal responsibility and improved budget management, there may be contention regarding its execution and impact on other areas of state budgeting. Critics could raise concerns about the rigidity of mandated reserves potentially limiting the state's ability to address immediate budgetary needs or opportunities. Ensuring the right balance between adequate reserves and flexible appropriations will be key to the bill's acceptance and effectiveness.