SF0070H3001

This amendment creates a new income tax prevention account as a permanent trust fund with specific investment requirements and earnings distribution policies, and makes conforming changes to the bill's section numbering.

• Adds a new statutory section creating the income tax prevention account and specifying its administration to the bill's purpose statement. (Page 1, lines 1-3)
• Adds a requirement for the state treasurer to report annually on the income tax prevention account's investments and earnings to the bill's requirements. (Page 1, lines 5-6)
• Creates a new permanent trust fund called the income tax prevention account that receives transfers from the legislative stabilization reserve account. The account must be invested with 85% private equity and 15% private credit, and investment earnings from transfers become available for deposit to the general fund after 14 fiscal years. The state treasurer must provide annual reporting to legislative committees on the account's investment performance and estimated earnings. (Page 1, lines 8-2, lines 1-32)
• Renumbers subsequent bill sections to accommodate the new income tax prevention account section. (Page 2, line 1; Page 17, lines 18, 21; Page 18, line 8)
• Updates the definition of 'this act' in W.S. 9-4-203 to include the new income tax prevention account statute (W.S. 9-4-227). (Page 2, lines 4-5; Page 8, lines 9-14)
• Clarifies that W.S. 9-4-716(e) does not apply to the income tax prevention account, allowing it to maintain a different investment risk profile (85% private equity, 15% private credit) than other state funds (70% global equities, 30% domestic fixed income). (Page 8, lines 16-32)

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