§ 21-16-1201 — Excellence in higher education endowment fund; Hathaway student scholarship endowment fund; distributions by state treasurer; legislative restrictions

(a) The excellence in higher education endowment fund is
created as provided by W.S. 9-4-204(u)(vi).
(b) In addition to the excellence in higher education
endowment fund, a student scholarship endowment fund, to be
known as the Hathaway student scholarship endowment fund, is
established as provided by W.S. 9-4-204(u)(vii).
(c) The state treasurer shall place earnings from the
investment of monies in the excellence in higher education
endowment fund in an income account for subsequent disbursement
as provided in this subsection. Earnings for any fiscal year
which are in excess of the spending policy amount established
pursuant to W.S. 9-4-719(o) shall be distributed as provided by
W.S. 9-4-719(m). The institutions receiving distributions of
earnings within the spending policy amount pursuant to this
subsection shall only expend ninety percent (90%) of the
distribution in fiscal years in which the spending policy amount
specified in W.S. 9-4-719(o) is reached or exceeded. In any
fiscal year in which the spending policy amount specified in
W.S. 9-4-719(o) is not reached, the shortfall in distributions
an institution would have received if the spending policy amount
had been reached shall be made up in equal parts by an
authorization for the institution to expend funds saved under
this subsection when the spending policy amount is reached or
exceeded and an equal amount appropriated from the excellence in
higher education endowment reserve account as provided in W.S.
9-4-719(n). Earnings within the spending policy amount shall be
distributed at the times provided in W.S. 9-4-108 as follows:
(i) Two-thirds (2/3) to the University of Wyoming;
(ii) The remaining one-third (1/3) equally to each
Wyoming community college.
(d) Commencing with the fiscal year beginning July 1,
2006, earnings from the Hathaway student scholarship endowment
fund created by this article shall be transferred by the state
treasurer to the Hathaway scholarship expenditure account
created by W.S. 21-16-1302.