HB0107

Creates the Wyoming generational investment account as a permanent trust fund invested primarily in private equity and private credit, with annual transfers from the legislative stabilization reserve account and earnings distribution to the general fund after fourteen years.

• Establishes the Wyoming generational investment account as a permanent or perpetual trust fund consisting of all funds transferred or appropriated to it by law, with funds being inviolate subject to withdrawal provisions. (W.S. 9-4-227(a))
• Authorizes the state treasurer to invest account funds in accordance with specified investment statutes, allowing investment in equities including corporate stocks, with an overall risk profile not materially exceeding a reference portfolio of 85% private equity and 15% private credit investments. (W.S. 9-4-227(b))
• Requires the state auditor to transfer $100 million annually (or as much as available) from the legislative stabilization reserve account to the Wyoming generational investment account beginning July 1, 2025 and each July 1 thereafter, after all other required transfers are made. (W.S. 9-4-227(c))
• Requires the state treasurer to separately account for each annual transfer and its earnings, prohibits withdrawal of the annual transfers themselves, and permits withdrawal of investment earnings only in accordance with subsection (e). (W.S. 9-4-227(d))
• Provides that investment earnings from each annual transfer shall be deposited into the general fund on July 1 each fiscal year after fourteen fiscal years have elapsed since that transfer, with earnings defined as interest income, dividends, realized capital gains, and returned capital. (W.S. 9-4-227(e))
• Authorizes the state treasurer to liquidate or sell investments to maximize earnings or minimize costs associated with making required deposits to the general fund. (W.S. 9-4-227(e)(iii))
• Requires the state treasurer to report annually by October 1 to the joint appropriations committee and select committee on capital financing and investments, including the annual investment policy statement review and an estimate of investment earnings available for deposit to the general fund.