| 1 | 1 | | 2025 |
|---|
| 2 | 2 | | STATE OF WYOMING |
|---|
| 3 | 3 | | 25LSO-07101HB0293 |
|---|
| 4 | 4 | | HOUSE BILL NO. HB0293 |
|---|
| 5 | 5 | | Repealing the school foundation program reserve account. |
|---|
| 6 | 6 | | Sponsored by: Representative(s) Bear, Angelos, Heiner and |
|---|
| 7 | 7 | | Smith, S and Senator(s) Hicks and Smith, D |
|---|
| 8 | 8 | | A BILL |
|---|
| 9 | 9 | | for |
|---|
| 10 | 10 | | 1 AN ACT relating to school finance; repealing the school |
|---|
| 11 | 11 | | 2 foundation program reserve account; modifying the |
|---|
| 12 | 12 | | 3 distribution of revenues from the account; making |
|---|
| 13 | 13 | | 4 conforming amendments; specifying the disposition of funds |
|---|
| 14 | 14 | | 5 credited to and from the account; requiring reports; and |
|---|
| 15 | 15 | | 6 providing for an effective date. |
|---|
| 16 | 16 | | 7 |
|---|
| 17 | 17 | | 8 |
|---|
| 18 | 18 | | 9 |
|---|
| 19 | 19 | | 10W.S. 39-14-801(d)(intro) is amended to |
|---|
| 20 | 20 | | 11 read: |
|---|
| 21 | 21 | | 12 |
|---|
| 22 | 22 | | 13 |
|---|
| 23 | 23 | | 14 |
|---|
| 24 | 24 | | 15 2025STATE OF WYOMING25LSO-07102HB02931 (d) After making distributions pursuant to |
|---|
| 25 | 25 | | 2 subsections (b), (c), (f) and (j) of this section, |
|---|
| 26 | 26 | | 3 distributions under subsection (e) of this section shall be |
|---|
| 27 | 27 | | 4 made from the severance tax distribution account. The |
|---|
| 28 | 28 | | 5 amount of distributions under subsection (e) of this |
|---|
| 29 | 29 | | 6 section shall not exceed one hundred fifty-five million |
|---|
| 30 | 30 | | 7 dollars ($155,000,000.00) in any fiscal year. To the extent |
|---|
| 31 | 31 | | 8 that distributions under subsection (e) of this section |
|---|
| 32 | 32 | | 9 would exceed that amount in any fiscal year, except as |
|---|
| 33 | 33 | | 10 provided in subsections (g), (h), (k) |
|---|
| 34 | 34 | | 11 section, the excess shall be credited: |
|---|
| 35 | 35 | | 12 |
|---|
| 36 | 36 | | 13W.S. 21-13-306.1 and 39-14-801(m) are |
|---|
| 37 | 37 | | 14 repealed. |
|---|
| 38 | 38 | | 15 |
|---|
| 39 | 39 | | 162024 Wyoming Session Laws, Chapter 118, |
|---|
| 40 | 40 | | 17 Section 314 is repealed. |
|---|
| 41 | 41 | | 18 |
|---|
| 42 | 42 | | 19The school foundation program reserve |
|---|
| 43 | 43 | | 20 account is repealed. |
|---|
| 44 | 44 | | 21 |
|---|
| 45 | 45 | | 22On the effective date of this act, all |
|---|
| 46 | 46 | | 23 funds in the school foundation program reserve account 2025STATE OF WYOMING25LSO-07103HB0293 |
|---|
| 47 | 47 | | 1 shall be transferred by the state auditor to the common |
|---|
| 48 | 48 | | 2 school permanent fund reserve account created under W.S. |
|---|
| 49 | 49 | | 3 9-4-719(f). Notwithstanding W.S. 9-4-719(f), any unexpended |
|---|
| 50 | 50 | | 4 funds that have been appropriated or obligated from the |
|---|
| 51 | 51 | | 5 school foundation program reserve account before the |
|---|
| 52 | 52 | | 6 effective date of this act shall be paid from the common |
|---|
| 53 | 53 | | 7 school permanent fund reserve account. Any funds that are |
|---|
| 54 | 54 | | 8 directed to revert by law to the school foundation program |
|---|
| 55 | 55 | | 9 reserve account shall revert to the common school permanent |
|---|
| 56 | 56 | | 10 fund reserve account. All accrued revenues that would |
|---|
| 57 | 57 | | 11 otherwise be deposited in the school foundation program |
|---|
| 58 | 58 | | 12 reserve account shall be deposited in the common school |
|---|
| 59 | 59 | | 13 permanent fund reserve account. |
|---|
| 60 | 60 | | 14 |
|---|
| 61 | 61 | | 15Not later than October 31, 2026 and again |
|---|
| 62 | 62 | | 16 not later than October 31, 2027, the state auditor shall |
|---|
| 63 | 63 | | 17 report to the joint appropriations committee on the amounts |
|---|
| 64 | 64 | | 18 transferred under section 5 of this act. |
|---|
| 65 | 65 | | 19 2025STATE OF WYOMING25LSO-07104HB02931. This act is effective immediately upon |
|---|
| 66 | 66 | | 2 completion of all acts necessary for a bill to become law |
|---|
| 67 | 67 | | 3 as provided by Article 4, Section 8 of the Wyoming |
|---|
| 68 | 68 | | 4 Constitution. |
|---|
| 69 | 69 | | 5 |
|---|
| 70 | 70 | | 6 (END) |
|---|