SF0123

Creates the Wyoming Energy Dominance Fund to provide grants and loans for energy development projects, modifies severance tax revenue distributions, and includes legislative findings on Wyoming's energy industry.

• Creates the Wyoming Energy Dominance Fund administered by the Wyoming Energy Authority, consisting of designated funds and contributions from grants, gifts, transfers, and donations. (Section 3(a))
• Authorizes the fund to provide grants for applied research, demonstration, pilot projects, and commercial development related to Wyoming energy needs including coal innovation, natural gas, uranium processing, rare earth minerals, and baseload energy, but excludes wind and solar projects. Grants require one-to-one matching with nonstate funds secured before award. (Section 3(b)(i))
• Authorizes loans from the fund for similar energy projects as grants, excluding wind and solar. Loans must be collateralized, have interest rates tied to the federal funds rate minus one percent (minimum zero percent), include a one percent origination fee, and have a maximum ten-year duration. (Section 3(b)(ii))
• Requires the Wyoming Energy Authority to establish an application process for grants and loans occurring at least every four months, including concept paper phase, full application phase, public comment period, Attorney General legal review, and Governor determination. (Section 3(b)(iii))
• Requires grant and loan recipients to submit quarterly progress reports to the Wyoming Energy Authority and a comprehensive final report including a financial audit and accomplishments list. (Section 3(b)(iv))
• Requires the Attorney General to certify the legality of each grant or loan from the Wyoming Energy Dominance Fund. (Section 3(c))
• Requires the Wyoming Energy Authority to notify the legislature's management council, joint appropriations committee, and joint minerals, business and economic development interim committee of all proposed fund expenditures at least thirty days prior to disbursement. (Section 3(d))
• Modifies severance tax revenue distributions by depositing one-half of specified severance tax revenues to the Wyoming Energy Dominance Fund and one-half to the public school foundation program account for fiscal years 2027 and 2028, reverting to the prior distribution formula (two-thirds to permanent Wyoming mineral trust fund, one-third to common school account) beginning fiscal year 2029.