Bill No.: SF0135                  Drafter:  MDO

LSO No.:  11LSO-0534              Effective Date:  7/1/2011

Enrolled Act No.:  SEA0032

Chapter No.:       40

Prime Sponsor:     Senator Nicholas, P.

Catch Title:       University of Wyoming-federal mineral royalties.

Subject:           Expenditures of the University of Wyoming's share of "under the cap" federal mineral royalties.

Summary/Major Elements:

· This act allows the trustees of the University of Wyoming to approve expenditures of the university's share of federal mineral royalties distributed pursuant to W.S. 9-4-601(a)(iv) without legislative approval;

· If the University of Wyoming wants to expend federal mineral royalty funds on capital construction projects, they may only do so for capital construction projects approved by the legislature;

· Eliminates the requirement that the university include expenditures of revenue distributed pursuant to W.S. 9-4-601(a)(iv) in its budget submitted to the governor;

· Eliminates the requirements that the university submit vouchers with the state treasurer and filed with the state auditor before payments from revenue distributed under W.S. 9-4-601(a)(iv) are authorized.

Comments:

• Report required:  Trustees of the University of Wyoming shall report annually to the joint appropriations interim committee, the select committee on capital finance and investments and the governor on all expenditures of federal mineral royalties under W.S. 9-4-601(a)(iv).