HB0260 - State revenue diversions-2.
2001 |
State of Wyoming |
01LSO-0614 |
HOUSE BILL NO. HB0260
State revenue diversions-2.
Sponsored by: Representative(s) Boswell, Diercks,
Esquibel, Johnson,
L., McGraw, Meyer,
Morgan, Nelson,
Reese, Robinson, Sadler,
Thompson and Warren
A BILL
for
1 AN ACT relating to the
administration of government;
2
consolidating specified state accounts; transferring funds;
3
ending the diversion of certain mineral severance tax money
4 as
specified; amending and repealing various diversions;
5
amending related provisions; clarifying provisions; and
6
providing for an effective date.
7
8 Be It Enacted by the Legislature of the State of Wyoming:
9
10 Section 1. W.S. 1-42-104(a), 9-4-601(b)(iv)(B) and
11 (d)(iii) and by creating a new
paragraph (iv), 39-14-111(a)
12 and (k), 39-14-211(b) and (d), 39-14-311(a)
and
13 39-14-511(a) are amended to read:
14
Page 1
1 1-42-104. Interfund transfer;
repayment to account;
2 investment of funds.
3
4 (a) Upon
certification by the governor to the state
5
treasurer that there are inadequate monies in the local
6
government insurance account to meet the obligations under
7
W.S. 1-42-103, the state treasurer shall utilize an
8
interfund transfer from the legislative
government royalty 9
impact assistance account created by W.S. 9-4-601(b)(ii) 10 budget reserve
account to the local government insurance
11 account in an accumulated amount not to
exceed one million
12 two hundred sixty-five thousand dollars
($1,265,000.00), to
13 make payments authorized under W.S. 1-42-103
which cannot
14 be paid due to the insufficiency of any
other revenues
15 available. Monies advanced to the account
under this
16 subsection shall be repaid from the account
to the
17 legislative
government royalty impact assistance budget
18 reserve
account at a rate of interest and upon terms set by
19 the board of deposits upon the
recommendation of the
20 division.
21
22 9-4-601. Distribution and use; funds,
accounts,
23 cities and towns benefited; exception for bonus payments.
24
Page 2
1 (b) The state
treasurer shall ascertain and withhold
2 all
bonus payments received from the federal government
3
attributable to coal, oil shale or geothermal leases of
4 federal
land within Wyoming and shall distribute it as
5
follows:
6
7 (iv) For the
fiscal year commencing July 1,
8
1994, and for each fiscal year thereafter:
9
10 (B) Forty
percent (40%) to the legislative 11
government
royalty impact assistance account in the 12
earmarked
revenue fund. Revenues received in the 13
legislative
government royalty impact assistance account on 14
and
after July 1, 1997, shall be transferred to the school 15
capital
construction reserve account created under 1996 16
Wyoming
Session Laws, Chapter 1, Section 303. Revenues 17
received
in the school capital construction reserve account 18
on
and after July 1, 1998, shall be transferred to the 19 school capital construction
account established under W.S.
20 21-15-111(a)(i).
21
22 (d) Any revenue
received under subsection (a) of this
23 section in excess of two hundred million
dollars
24 ($200,000,000.00) shall be distributed as
follows:
Page 3
1
2 (iii) To the legislative government royalty 3
impact assistance account provided by
paragraph (b)(ii) of 4
this section. One-third (1/3) to the school foundation
5 program account; and
6
7 (iv) Two-thirds (2/3)
to the budget reserve
8 account.
9
10 39-14-111. Distribution.
11
12 (a) As provided
by W.S. 39-14-104(a), the total
13 severance tax rate for surface coal shall be
seven percent
14 (7%). As provided by W.S. 39-14-104(b), the
total severance
15 tax rate for underground coal shall be three
and three-
16 quarters percent (3.75%). A two and one-half
percent (2.5%)17 tax imposed by W.S. 39-14-104(a)(i), (ii)
and (vi) and a
18 one and one-half percent (1.5%) tax imposed
by W.S.
19 39-14-104(b)(i) shall be deposited into the
permanent
20 Wyoming mineral trust fund except for the
period beginning
21 March 15, 1988, and ending June 30, 2004,
during which the
22 proceeds of the tax imposed by W.S. 39-14-104(a)(ii)
and
23 (vi) shall be deposited: into the severance
tax 24
distribution
account.
Page 4
1
2 (i) Seventy-five
percent (75%) into the
3 permanent Wyoming mineral trust fund;
and
4
5 (ii) Twenty-five
percent (25%) into the
6 permanent Wyoming mineral trust fund
reserve account
7 created by W.S. 9-4-712(b).
8
9 (k) The state
treasurer shall transfer revenue
10 collected under W.S. 39-14-104(a)(vi) to the
permanent
11 Wyoming mineral trust fund, except for the
period beginning
12 March 15, 1988, and ending June 30, 2004,
the revenue shall
13 be transferred: to the severance tax distribution account.
14
15 (i) Seventy-five percent (75%) into the
16 permanent
Wyoming mineral trust fund; and
17
18 (ii) Twenty-five percent (25%) into the
19 permanent
Wyoming mineral trust fund reserve account
20 created
by W.S. 9-4-712(b).
21
22 39-14-211. Distribution.
23
Page 5
1 (b) The state
treasurer shall transfer the revenue
2
collected from the severance tax imposed by W.S.
3 39-14-204(a)(ii)
into the permanent Wyoming mineral trust
4 fund
except for the period beginning March 15, 1988, and
5
ending June 30, 2004, during which the proceeds shall be
6
deposited: into the severance tax distribution account.
7
8 (i) Seventy-five
percent (75%) into the
9 permanent Wyoming mineral trust fund;
and
10
11 (ii) Twenty-five percent (25%) into the
12 permanent
Wyoming mineral trust fund reserve account
13 created
by W.S. 9-4-712(b).
14
15 (d) The state
treasurer shall transfer revenue
16 collected from the severance tax imposed by
W.S.
17 39-14-204(a)(iv) to the severance tax
distribution
18 account,. except one-twelfth
(1/12) shall be credited:
19
20 (i) Seventy-five percent (75%) to the permanent
21 Wyoming
mineral trust fund; and
22
Page 6
1 (ii) Twenty-five percent
(25%) to the permanent
2 Wyoming mineral trust fund reserve
account created by W.S.
3 9-4-712(b).
4
5 39-14-311. Distribution.
6
7 (a) As provided
by W.S. 39-14-304(a), the total
8
severance tax rate for trona shall be four percent (4%). A
9 two
percent (2%) tax imposed by W.S. 39-14-304(a)(i) shall
10 be deposited into the permanent Wyoming
mineral trust fund
11 except for the period beginning March 15,
1988, and ending
12 June 30, 2004, during which the proceeds
shall be
13 deposited: into the severance tax distribution account.
14
15 (i) Seventy-five percent (75%) into the
16 permanent
Wyoming mineral trust fund; and
17
18 (ii) Twenty-five percent (25%) into the
19 permanent
Wyoming mineral trust fund reserve account
20 created
by W.S. 9-4-712(b).
21
22 39-14-511. Distribution.
23
Page 7
1 (a) As provided
by W.S. 39-14-504(a), the total
2
severance tax rate for uranium shall be four percent (4%).
3 A
two percent (2%) tax imposed by W.S. 39-14-504(a)(i)
4
shall be deposited into the permanent Wyoming mineral trust
5
fund except for the period beginning March 15, 1988, and
6
ending June 30, 2004, during which the proceeds shall be
7
deposited: into the severance tax distribution account.
8
9 (i) Seventy-five
percent (75%) into the
10 permanent
Wyoming mineral trust fund; and
11
12 (ii) Twenty-five percent (25%) into the
13 permanent
Wyoming mineral trust fund reserve account
14 created
by W.S. 9-4-712(b).
15
17
18 (a) W.S. 9-4-601(b)(ii)
and 39-14-211(j) are
19 repealed.
20
21 (b) 2000
Wyoming Session Laws, Chapter 76, Section
22 300(b)(i) and (e) is repealed. This repealer
shall not
23 affect the validity of transfers of funds that
occurred
24 under those provisions before July 1, 2001.
Page 8
1
3
4 (a) There is
transferred to the budget reserve account
5
from the statutory reserve account and the legislative
6 government
royalty impact assistance account all funds in
7
those accounts effective on June 30, 2001. This transfer is
8
subject to the following:
9
10 (i) Effective
July 1, 2001, the legislative
11 government royalty impact assistance account
and the
12 statutory reserve account are deleted;
13
14 (ii) All
appropriations from the legislative
15 government royalty impact assistance account
and the
16 statutory reserve account contained in
legislation enacted
17 during the 2000 and 2001 sessions of the
legislature, or
18 from previous sessions of the legislature to
the extent
19 encumbered or otherwise obligated in
accordance with law
20 before July 1, 2001, are deemed to be
appropriations from
21 the budget reserve account. If any of these
appropriated
22 funds are reverted, they shall be credited
to the budget
23 reserve account. These appropriations from
the budget
24 reserve account are subject to the same
terms and
Page 9
1
conditions as if the legislative government royalty impact
2
assistance account and the statutory reserve account were
3
still in existence.
4
5 Section 4. This act is effective July 1, 2001.
6
7 (END)
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