Critical access hospital endowment challenge program.

06LSO-0300.L1

                                                         

FISCAL NOTE

 

This bill contains an appropriation of $32,500,000 from the GENERAL FUND.

 

This bill creates the Wyoming Critical Access Hospital Endowment Challenge Fund consisting of 13 separate accounts, one account for each of the state, county, or special district critical access hospitals. 

 

The State Treasurer will match endowment gifts actually received by each hospital foundation from the funds available in the respective critical access hospital account of the Endowment Fund.  This match shall be paid by the State Treasurer at the time any accumulated amounts received total $10,000 or more.  The amount of endowment gifts to be received is not determinable and investment income and the amount of investment income earned on the new trust fund will go to the general fund.

 

This bill is effective July 1, 2006.  Any unexpended funds from the amount appropriated shall revert to the Budget Reserve Account on July 1, 2012.

 

Administrative impact statement:  On its own, this bill does not require additional personnel and/or expenditures , however, the State Treasurer's Office would like to note that it has already seen multiple requests for fiscal notes that require additional tasks and/or administration.  If all of these type of bills were to pass, it may be necessary to seek additional personnel and/or appropriations as a supplemental budget request.

 

 

 

 

 

 

 

 

 

 

 

 

 

Prepared by:   Don Richards, LSO           Phone:  777-7881

(Information provided by Sharon Garland, State Treasurer's Office; phone:  777-7475.)