HB0260 - State revenue diversions-2.

 

2001

State of Wyoming

01LSO-0614

 

 

 

HOUSE BILL NO.  HB0260

 

 

State revenue diversions-2.

 

Sponsored by:


 

 

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 

 

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 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 

 

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 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:

 

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 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.

 

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 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 

 

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 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 

 

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 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 

 

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 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 

16         Section 2.

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.

 

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 1 

 2         Section 3.

 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

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 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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