§ 9-4-305 — Disposition of state land revenue

Wyoming § 9-4-305

• Jurisdiction: Wyoming
• Title 09: Administration of the Government
• Ch. 4: PUBLIC FUNDS
• Art. 3: STATE INSTITUTIONS

Text

(a) Any and all funds accruing from state lands set aside
for the benefit or use of any public institution or organization
specified in W.S. 9-4-303 shall be deposited in the state
treasury.
(b) Proceeds from the sale of state lands, mineral
royalties and any money designated by the Wyoming constitution
or Wyoming statutes as collected shall be transmitted to the
state treasurer and credited to the proper accounts within the
permanent land fund. As authorized by article 7, section 2 of
the Wyoming constitution, thirty-three and one-third percent (33
1/3%) of the mineral royalties received from the lease of any
school lands shall be deposited into the public school
foundation program account. To the extent constitutionally
permissible and notwithstanding any other provision of law, at
the end of every fiscal year, the state treasurer shall transfer
to the corpus of each account within the permanent land fund,
except the common school account, from the income earned on the
corresponding account within the permanent land fund, to the
extent available, an amount as provided by this subsection. In
determining the amount to be withheld, the state treasurer shall
calculate the fiscal year beginning balance and ignore any
appropriations made from the account within that fiscal year.
For the fiscal year 2000, he shall transfer an amount equal to
five percent (5%) of the inflation rate for the previous twelve
(12) month period as determined by the department of
administration and information multiplied by the beginning
balance of each permanent land fund account, except the common
school account. At the end of each succeeding fiscal year, the
state treasurer shall increase the amount to be multiplied by
that year's inflation rate by five percent (5%) until such time
as the multiplier reaches one hundred percent (100%) of the
inflation rate, and then multiply that amount by the beginning
balance of each permanent land fund account, except the common
school account.
(c) Except as provided by subsection (b) of this section,
rentals for the ordinary use of the state lands, bonuses,
interest on purchase money, interest from investment of money in
corresponding accounts within the permanent land fund, and any
money designated by the Wyoming constitution or Wyoming statutes
as collected shall be transmitted to the state treasurer and
credited to the proper accounts within the permanent land income
fund or to the general fund as provided by the Wyoming Funds
Consolidation Act and W.S. 9-4-311.
(d) The institutional land revenue fund created in 2013
Wyoming Session Laws, Chapter 155, Section 2 is hereby continued
and codified and shall consist of funds from transactions
involving institutional lands under W.S. 9-2-2005(g), 9-2-
2006(e) and 9-2-2012(e) for which disposition is not otherwise
provided for by state or federal law or the conveyance
instrument. The state auditor shall account for funds deposited
in the account attributable to each department. Funds in the
account attributable to each individual department shall not be
commingled. The state treasurer shall invest funds within the
fund and shall deposit the earnings from fund investments to the
general fund. Funds in the account shall only be appropriated:
(i) Upon further action of the legislature; and
(ii) To support major maintenance, capital
construction for institutions of the department to which the
funds are attributable and reasonable administrative expenses.