Wyoming Education Trust Modernization Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
This bill changes how Wyoming can use money from its permanent school fund, which is created from federal land sales. Currently, the state could only use interest earned on the fund. This legislation allows Wyoming to use earnings generated from investments made with the fund’s principal, providing greater financial flexibility for the state’s public schools. It modifies existing laws governing the disposal of public land for educational purposes to reflect this change.
Key provisions
- Allows Wyoming to use investment earnings instead of just interest from the Education Trust Fund.
- Modifies section 5 of the 1890 Act to replace ‘interest of’ with ‘earnings on’.
- Modifies section 7 of the 1890 Act to replace ‘interest of’ with ‘earnings on’.
- Modifies section 8 of the 1890 Act to replace ‘income thereof’ with ‘earnings on which’.
Who is affected
- Wyoming State Government
- Wyoming Public Schools
- Federal Land Management Agencies
- Trust Fund Beneficiaries
Notable changes
- Changes the allowable uses of funds from interest to earnings.
- Updates language in the 1890 Act to reflect the new policy.
Fiscal impact
The bill could potentially increase revenue available for public schools by allowing the state to utilize investment earnings instead of solely relying on interest income.
Bill text
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Sponsors
Official sponsors from legislative records.
1 on record
Primary sponsor
![Harriet M. [R-WY-At Large] Hageman](/_next/image?url=https%3A%2F%2Fcivik-platform-media-us-east-1-prod.s3.us-east-1.amazonaws.com%2Flegislator-portraits%2Fcongress%2FH001096.jpg&w=64&q=75){kind=small}
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