This amendment creates Wyoming's next generation account as a perpetual trust fund, establishes automatic annual transfers from the legislative stabilization reserve account under specified conditions, and sets investment parameters and earnings distribution mechanisms for the new account.
- Updates the bill's title to include creation and administration of Wyoming's next generation account. (Page 1, line 1)
- Adds reference to new statute W.S. 9-4-227 and corrects grammatical agreement from 'is' to 'are'. (Page 1, line 12)
- Creates new statute W.S. 9-4-227 establishing Wyoming's next generation account as a permanent trust fund consisting of transferred or appropriated funds. (Page 1, after line 12)
- Specifies that the state treasurer shall invest account funds according to W.S. 9-4-715(a) and (c) through (e) and W.S. 9-4-716, with exemption from W.S. 9-4-716(e), authorizing investment in equities with an 85% private equity and 15% private credit reference portfolio composition. (Page 1, lines 19-38)
- Establishes automatic annual transfers from the legislative stabilization reserve account to Wyoming's next generation account beginning July 1, 2026 for fourteen fiscal years, with transfer amounts tiered based on the balance of the legislative stabilization reserve account, ranging from $0 to $100 million annually. (Page 1, lines 40-38 and Page 2, lines 1-38)
- Requires separate accounting of each annual transfer and its earnings, prohibits withdrawal of annual transfers, and limits withdrawal of investment earnings to those arising from transfers made fourteen fiscal years prior. (Page 2, lines 41-9)
- Provides that investment earnings from transfers deposited to the general fund fourteen fiscal years after transfer, defines investment earnings, and authorizes the state treasurer to liquidate investments to facilitate earnings distributions. (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 investments, policy reviews, and estimated available earnings. (Page 3, lines 28-35)
- Updates the definition of 'this act' in W.S. 9-4-203 to include W.S. 9-4-227. (Page 6, line 17 and Page 9, lines 43-2)
- Amends W.S. 9-4-715 by adding subsection (e) establishing a 70% global equities and 30% domestic fixed income reference portfolio risk profile for funds invested in equities, with authority for the board to determine specific benchmarks upon investment funds committee recommendations. (Page 12, after line 7)
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