HB0164

Creates the Wyoming generational investment account as a permanent trust fund and establishes an annual transfer mechanism from the legislative stabilization reserve account with delayed-withdrawal investment earnings.

• Establishes the Wyoming generational investment account as a permanent or perpetual trust fund consisting of all funds transferred or appropriated to it by law. (W.S. 9-4-227(a))
• Authorizes the state treasurer to invest account funds according to state investment statutes, with authority to invest in equities and stocks, subject to a reference portfolio risk profile of 85% private equity and 15% private credit. (W.S. 9-4-227(b), W.S. 9-4-715(a), (c)-(e), W.S. 9-4-716)
• Requires the state auditor to transfer $100 million annually from the legislative stabilization reserve account to the Wyoming generational investment account beginning July 1, 2026, provided the stabilization reserve does not fall below $1 billion. (W.S. 9-4-227(c))
• Requires the state treasurer to separately account for earnings from each annual transfer and prohibits withdrawal of the annual transfers themselves, though earnings may be withdrawn under specified conditions. (W.S. 9-4-227(d))
• Beginning 20 fiscal years after each annual transfer, authorizes distribution of investment earnings from that transfer, split equally between the general fund and the legislative stabilization reserve account. (W.S. 9-4-227(e))
• Defines investment earnings as interest income, dividends, realized capital gains, and returned capital for purposes of the withdrawal and distribution provisions. (W.S. 9-4-227(e)(i))
• Exempts the Wyoming generational investment account from the standard 70% global equities and 30% domestic fixed income risk profile requirement that applies to other state funds. (W.S. 9-4-716(e))
• Excludes investment earnings distributed from the Wyoming generational investment account from the governor's budget appropriation recommendations. (W.S. 9-2-1013(d)(iii)(E))

Effective: Effective immediately upon completion of all acts necessary for the bill to become law