Community college endowment.

04LSO-0136.C1

                                                         

FISCAL NOTE (SF0006)

 

 

This bill contains an appropriation of $35,000,000 from the GENERAL FUND.

 

This bill creates the Community College Endowment Challenge Fund consisting of 7 separate accounts, one account for each Wyoming community college. The $35 million appropriation shall be equally deposited into each of the 7 separate accounts ($5 million each).

 

The State Treasurer will match endowment gifts actually received by each community college foundation from the funds available in the respective community college account of the Endowment Fund. This match shall be paid by the State Treasurer at the time any accumulated amounts received by a community college foundation total $10,000 or more.

 

This bill is effective July 1, 2004. Any unexpended funds from the amount appropriated shall revert to the Budget Reserve Account on July 1, 2011.

 

 

 

 

 

 

 

 

 

Prepared by:   Dean Temte, LSO    Phone:   777-7881