SF0148 - State revenue diversions.
2001 |
State of Wyoming |
01LSO-0525 |
SENATE FILE NO. SF0148
State revenue diversions.
Sponsored by: Senator(s) Mockler, Boggs, Cathcart,
Decaria,
Goodenough, Harris, Job, Massie,
Sessions and Vasey
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
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
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