Wyoming Gold Act.25LSO-0313, 1.0
SF0096
FISCAL NOTE
The fiscal impact is indeterminable, but additional expenditures are expected.
This legislation would require the State Treasurer’s Office (STO) to hold at
least $10,000,000 in specie and specie legal tender between and across all state-
managed accounts. The STO would also invest in precious metal leases or bonds
payable in precious metals, if market conditions warrant. The STO would be
permitted to contract with precious metals firms and industry experts to carry
out required duties. The bill also requires the STO to adopt rules necessary for
its implementation by January 1, 2026, and requires a study to be submitted to
the Joint Revenue Committee and the Select Committee on Financing and Investments
by October 1, 2025.
The STO anticipates that the fiscal impact of this legislation would depend on
how much is held in specie and specie legal tender, and on how the specie and
specie legal tender to be held are ultimately divided among state accounts.
The fiscal impact of the requirement that the STO invest in precious metal leases
or bonds payable in precious metals if market conditions warrant is also
indeterminable.
The legislation allows the STO to contract for services with external parties.
This potential expenditure increase is indeterminable.
The STO has limited space for holding specie. Additional expenditures would be
necessary to obtain appropriate space and staffing, but the total amount of such
expenditures is not known. Finally, it is probable that completion of both the
rulemaking process and the study required by this legislation would necessitate
additional STO expenditures for the staff and resources needed on those projects.
Prepared by: Matt Sackett, LSO Contractor Phone: 777-7881
(Information provided by Samantha Dailey, State Treasurer's Office, 307-777-7408)