Bill No.:         SF0026                                               Drafter: LNS

LSO No.:       14LSO-0105                                     Effective Date: 7/1/2014

Enrolled Act No.:    SEA0003

Chapter No.:                        CH0003

Prime Sponsor:       Joint Judiciary Interim Committee

Catch Title:              Endowment challenge program-state funds inviolate.

Subject:                     University of Wyoming endowment challenge program.

Summary/Major Elements:

· This bill relates to the University of Wyoming challenge endowment program.  Under the program, the State provides funds to the University of Wyoming to match private donations to the University of Wyoming Foundation.  The funds are managed by the Foundation.

· This bill clarifies that the Foundation cannot spend any of the corpus of the matching funds received from the State unless the expenditure is for the reasonable costs of administering the matching funds.