This amendment creates Wyoming's Next Generation Account as a permanent trust fund with prescribed funding transfers from the legislative stabilization reserve account and investment parameters, while expanding the parent bill's investment and risk profile provisions.
- Updates the bill title to include creation and administration of Wyoming's Next Generation Account. (Page 1, lines 1-3)
- Adds reference to new statute W.S. 9-4-227 and corrects grammatical subject-verb agreement in the statutes referenced. (Page 1, line 12)
- Creates W.S. 9-4-227 establishing Wyoming's Next Generation Account as a permanent trust fund with funds transferred from the legislative stabilization reserve account beginning July 1, 2026. (Page 1, lines 10-38)
- Establishes a tiered annual transfer schedule from the legislative stabilization reserve account based on reserve balance thresholds, ranging from $25 million to $100 million annually for fourteen fiscal years. (Page 2, lines 40-29)
- Requires the State Treasurer to invest account funds with an 85% private equity and 15% private credit reference portfolio risk profile, and permits equity investments by the designated treasurer or designee registered as an investment advisor. (Page 2, lines 19-38)
- Establishes separate accounting for each annual transfer and its earnings, prohibits withdrawal of annual transfers, and permits withdrawal of investment earnings from transfers after fourteen fiscal years have elapsed. (Page 2-3, lines 41-9)
- Defines investment earnings as interest income, dividends, realized capital gains, and returned capital, to be deposited in the general fund annually starting fourteen years after each annual transfer. (Page 3, lines 11-26)
- Requires the State Treasurer to report annually to the Joint Appropriations Committee and Select Committee on Capital Financing and Investments regarding account investment and earnings projections. (Page 3, lines 28-35)
- Adds W.S. 9-4-227 to the definition of 'This act' in the existing definitions statute. (Page 3, lines 43-2)
- Adds new investment constraint specifying that the overall risk profile of fund investments in stocks and equities shall not materially exceed a reference portfolio of 70% global equities and 30% domestic fixed income, with exceptions for specific public purpose investments directed by the legislature. (Page 4, lines 6-19)
- Amends Section 2 references to include W.S. 9-4-203(a)(xiii) in the list of statutes being amended. (Page 6, line 17)
- Adds reference to new paragraph (e) in W.S. 9-4-716(a) amendments. (Page 6, line 19)
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