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.: SF0054 Drafter: DRN

LSO No.: 04LSO-0318.E2 Effective Date: 7/1/2004

Enrolled Act No.: SEA0038

Chapter No.: 110

Prime Sponsor: Senator Vasey

Catch Title: School finance-recapture cash flow payments.

Subject: School districts subject to recapture of local revenues in excess of state foundation program costs.

Summary/Major Elements:

· Provides for payments to districts subject to recapture to assist with financial needs prior to receipt of district revenues, as required to provide educational programs during the course of the school year;

· Payments are equal to one-third of the foundation program amount computed for the recapture district, payable on August 15, 50% of which is to be repaid by the recipient district on or before January 31, with the balance repaid by June 15.