SF0148 - State revenue diversions.

 

2001

State of Wyoming

01LSO-0525

 

 

 

SENATE FILE NO.  SF0148

 

 

State revenue diversions.

 

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 

15         1-42-104.  Interfund transfer; repayment to account;
16  investment of funds.

 

Page  1

 

 

 

 1 

 2         (a)  Upon certification by the governor to the state
 3  treasurer that there are inadequate monies in the local
 4  government insurance account to meet the obligations under
 5  W.S. 1-42-103, the state treasurer shall utilize an
 6  interfund transfer from the legislative government royalty
 7  impact assistance account created by W.S. 9-4-601(b)(ii)
 8  budget reserve account to the local government insurance
 9  account in an accumulated amount not to exceed one million
10  two hundred sixty-five thousand dollars ($1,265,000.00), to
11  make payments authorized under W.S. 1-42-103 which cannot
12  be paid due to the insufficiency of any other revenues
13  available. Monies advanced to the account under this
14  subsection shall be repaid from the account to the
15  legislative government royalty impact assistance budget
16  reserve account at a rate of interest and upon terms set by
17  the board of deposits upon the recommendation of the
18  division.

19 

20         9-4-601.  Distribution and use; funds, accounts,
21  cities and towns benefited; exception for bonus payments.

22 

23         (b)  The state treasurer shall ascertain and withhold
24  all bonus payments received from the federal government

Page  2

 

 

 

 1  attributable to coal, oil shale or geothermal leases of
 2  federal land within Wyoming and shall distribute it as
 3  follows:

 4 

 5              (iv)  For the fiscal year commencing July 1,
 6  1994, and for each fiscal year thereafter:

 7 

 8                   (B)  Forty percent (40%) to the legislative
 9  government royalty impact assistance account in the
10  earmarked revenue fund. Revenues received in the
11  legislative government royalty impact assistance account on
12  and after July 1, 1997, shall be transferred to the school
13  capital construction reserve account created under 1996
14  Wyoming Session Laws, Chapter 1, Section 303.  Revenues
15  received in the school capital construction reserve account
16  on and after July 1, 1998, shall be transferred to the
17  school capital construction account established under W.S.
18  21-15-111(a)(i).

19 

20         (d)  Any revenue received under subsection (a) of this
21  section in excess of two hundred million dollars
22  ($200,000,000.00) shall be distributed as follows:

23 

 

Page  3

 

 

 

 1              (iii)  To the legislative government royalty
 2  impact assistance account provided by paragraph (b)(ii) of
 3  this section. One-third (1/3) to the school foundation
 4  program account; and

 5 

 6              (iv)  Two-thirds (2/3) to the budget reserve
 7  account.

 8 

 9         39-14-111.  Distribution.

10 

11         (a)  As provided by W.S. 39-14-104(a), the total
12  severance tax rate for surface coal shall be seven percent
13  (7%). As provided by W.S. 39-14-104(b), the total severance
14  tax rate for underground coal shall be three and three-
15  quarters percent (3.75%). A two and one-half percent (2.5%)
16  tax imposed by W.S. 39-14-104(a)(i), (ii) and (vi) and a
17  one and one-half percent (1.5%) tax imposed by W.S.
18  39-14-104(b)(i) shall be deposited into the permanent
19  Wyoming mineral trust fund except for the period beginning
20  March 15, 1988, and ending June 30, 2004, during which the
21  proceeds of the tax imposed by W.S. 39-14-104(a)(ii) and
22  (vi) shall be deposited: into the severance tax
23  distribution account.

24 

 

Page  4

 

 

 

 1              (i)  Seventy-five percent (75%) into the
 2  permanent Wyoming mineral trust fund; and

 3 

 4              (ii)  Twenty-five percent (25%) into the
 5  permanent Wyoming mineral trust fund reserve account
 6  created by W.S. 9-4-712(b).

 7 

 8         (k)  The state treasurer shall transfer revenue
 9  collected under W.S. 39-14-104(a)(vi) to the permanent
10  Wyoming mineral trust fund, except for the period beginning
11  March 15, 1988, and ending June 30, 2004, the revenue shall
12  be transferred: to the severance tax distribution account.

13 

14              (i)  Seventy-five percent (75%) into the
15  permanent Wyoming mineral trust fund; and

16 

17              (ii)  Twenty-five percent (25%) into the
18  permanent Wyoming mineral trust fund reserve account
19  created by W.S. 9-4-712(b).

20 

21         39-14-211.  Distribution.

22 

23         (b)  The state treasurer shall transfer the revenue
24  collected from the severance tax imposed by W.S.

Page  5

 

 

 

 1  39-14-204(a)(ii) into the permanent Wyoming mineral trust
 2  fund except for the period beginning March 15, 1988, and
 3  ending June 30, 2004, during which the proceeds shall be
 4  deposited: into the severance tax distribution account.

 5 

 6              (i)  Seventy-five percent (75%) into the
 7  permanent Wyoming mineral trust fund; and

 8 

 9         (ii)  Twenty-five percent (25%) into the
10  permanent Wyoming mineral trust fund reserve account
11  created by W.S. 9-4-712(b).

12 

13         (d)  The state treasurer shall transfer revenue
14  collected from the severance tax imposed by W.S.
15  39-14-204(a)(iv) to the severance tax distribution
16  account,. except one-twelfth (1/12) shall be credited:

17 

18              (i)  Seventy-five percent (75%) to the permanent
19  Wyoming mineral trust fund; and

20 

21              (ii)  Twenty-five percent (25%) to the permanent
22  Wyoming mineral trust fund reserve account created by W.S.
23  9-4-712(b).

24 

 

Page  6

 

 

 

 1         39-14-311.  Distribution.

 2 

 3         (a)  As provided by W.S. 39-14-304(a), the total
 4  severance tax rate for trona shall be four percent (4%). A
 5  two percent (2%) tax imposed by W.S. 39-14-304(a)(i) shall
 6  be deposited into the permanent Wyoming mineral trust fund
 7  except for the period beginning March 15, 1988, and ending
 8  June 30, 2004, during which the proceeds shall be
 9  deposited: into the severance tax distribution account.

10 

11              (i)  Seventy-five percent (75%) into the
12  permanent Wyoming mineral trust fund; and

13 

14              (ii)  Twenty-five percent (25%) into the
15  permanent Wyoming mineral trust fund reserve account
16  created by W.S. 9-4-712(b).

17 

18         39-14-511.  Distribution.

19 

20         (a)  As provided by W.S. 39-14-504(a), the total
21  severance tax rate for uranium shall be four percent (4%).
22  A two percent (2%) tax imposed by W.S. 39-14-504(a)(i)
23  shall be deposited into the permanent Wyoming mineral trust
24  fund except for the period beginning March 15, 1988, and

Page  7

 

 

 

 1  ending June 30, 2004, during which the proceeds shall be
 2  deposited: into the severance tax distribution account.

 3 

 4              (i)  Seventy-five percent (75%) into the
 5  permanent Wyoming mineral trust fund; and

 6 

 7              (ii)  Twenty-five percent (25%) into the
 8  permanent Wyoming mineral trust fund reserve account
 9  created by W.S. 9-4-712(b).

10 

11         Section 2.

12 

13         (a)  W.S. 9-4-601(b)(ii) and 39-14-211(j) are
14  repealed.

15 

16         (b)  2000 Wyoming Session Laws, Chapter 76, Section
17  300(b)(i) and (e) is repealed. This repealer shall not
18  affect the validity of transfers of funds that occurred
19  under those provisions before July 1, 2001.

20 

21         Section 3.

22 

23         (a)  There is transferred to the budget reserve account
24  from the statutory reserve account and the legislative

Page  8

 

 

 

 1  government royalty impact assistance account all funds in
 2  those accounts effective on June 30, 2001. This transfer is
 3  subject to the following:

 4 

 5              (i)  Effective July 1, 2001, the legislative
 6  government royalty impact assistance account and the
 7  statutory reserve account are deleted;

 8 

 9              (ii)  All appropriations from the legislative
10  government royalty impact assistance account and the
11  statutory reserve account contained in legislation enacted
12  during the 2000 and 2001 sessions of the legislature, or
13  from previous sessions of the legislature to the extent
14  encumbered or otherwise obligated in accordance with law
15  before July 1, 2001, are deemed to be appropriations from
16  the budget reserve account. If any of these appropriated
17  funds are reverted, they shall be credited to the budget
18  reserve account. These appropriations from the budget
19  reserve account are subject to the same terms and
20  conditions as if the legislative government royalty impact
21  assistance account and the statutory reserve account were
22  still in existence.

23 

 

Page  9

 

 

 

 1         Section 4.  This act is effective July 1, 2001.

 2 

 3                         (END)

 

Page 10