Please Note: The following summaries of legislation enacted during the 2004 Legislative Session were prepared by the Legal Services Division Staff for internal use by the Legislative Service Office.

This report is not an official publication of the Wyoming Legislature and does not purport to be an official statement of legislative intent concerning any measure enacted by the Legislature.

The bill summaries contained in this report were prepared as an aid to locating enacted legislation and as a brief recap of the major provisions of each bill. While the information provided in these summaries is accurate, the summaries are not intended as a detailed abstract and reference should be made to the enacted bills for more complete information.

Bill No.: SF0006 Drafter: DRN

LSO No.: 04LSO-0136.E1 Effective Date: 7/1/2004

Enrolled Act No.: SEA0054

Chapter No.: 117

Prime Sponsor: Joint Revenue Interim Committee

Catch Title: Community college endowment.

Subject: Establishes the Wyoming community college endowment challenge program.

Summary/Major Elements:

· Establishes the endowment challenge fund consisting of one (1) account for each Wyoming community college and provides for the management of the accounts by each college.

· Provides for the state treasurer to match donations received by each community college when the accumulated amount received by a community college totals $10,000.00 or more.

• Make an appropriation from the general fund to the community college endowment challenge fund.

• The amount appropriated into the challenge fund is to be equally deposited into each of the seven (7) community college accounts.

Comments:

· Each community college is to submit a report to the state treasurer on or before October 1 of each year for the preceding fiscal year. The report shall include a financial summary and a review of accomplishments resulting from endowment expenditures. The report shall be for each fiscal year through June 30, 2011.

At the time this bill summary was prepared, final action on the bill in both houses was not completed. If there are any changes to the final bill, an updated bill summary for this bill will be provided.