WORKING DRAFT

HOUSE BILL NO.      

Funding for four lane highways.

Sponsored by:  Joint Transportation and Highways Interim Committee

A BILL

for

AN ACT relating to the administration of government; modifying the distribution of federal mineral royalties and severance taxes as specified; providing funding for the construction and maintenance of four lane state highways; providing for conforming provisions; and providing for an effective date.

Be It Enacted by the Legislature of the State of Wyoming:

Section 1.  W.S. 9-4-601(a) (intro) and by creating a new paragraph (k), 9-4-602(a) by creating a new paragraph (iv), 39-14-801(b), (c)(intro) (d)(intro) and by creating a new subsection (e) are amended to read:

9-4-601.  Distribution and use; funds, accounts, cities and towns benefited; exception for bonus payments.

(a)  All monies received by the state of Wyoming from the secretary of the treasury of the United States under the provisions of the act of congress of February 25, 1920 (41 Stat. 437, 450; 30 U.S.C. §§ 181, 191), as amended, or from lessees or authorized mine operators and all monies received by the state from its sale of production from federal mineral leases subject to the act of congress of February 25, 1920 (41 Stat. 437, 450; 30 U.S.C. §§ 181, 191) as amended, except as provided by subsection (b) of this section, shall be deposited in the trust and agency fund and the first two hundred million dollars ($200,000,000.00) of revenues received in any fiscal year, after distribution under subsection (k) of this section, shall be distributed by the state treasurer as provided in this subsection. One percent (1%) of these revenues shall be credited to the general fund as an administrative fee, and the remainder shall be distributed as follows:

(k)  Before making distributions under subsections (a) and (d) of this section, eleven million dollars ($11,000,000.00) per year shall be deposited into the state highway fund to be used solely for the purposes of construction and maintenance of four (4) lane state highways within the state.  The one per cent administrative fee to be paid to the general fund provided for pursuant to subsection (a) of this section shall not apply to distributions under this subsection.

9-4-602.  Distribution and use; state treasurer's duty.

(a)  Except as hereafter provided, distribution under W.S. 9-4-601 shall be made by the state treasurer within thirty (30) days after the receipt of the government royalty funds for the preceding period.  Federal mineral royalties received by the state on a continuing monthly basis shall be distributed under W.S. 9-4-601 by the state treasurer, subject to the following and except as otherwise provided by law for fiscal year 1994:

     (iv) Federal mineral royalties to be distributed to the state highway fund under W.S. 9-4-601(k) shall be made in equal monthly amounts.

39-14-801.  Severance tax distributions; distribution account created; formula.

(b)  [LUST] Before making distributions from the severance tax distribution account under subsections (c) and, (d) and (e) of this section, an amount equal to the amount of tax collected under W.S. 39-17-104(c) and 39-17-204(b) for the same period shall be distributed to the corrective action account created by W.S. 35-11-1424 and to the financial responsibility account created by W.S. 35-11-1427 in an inverse proportion to the amount in the two (2) accounts.

(c)  After making distributions under subsection subsections (b) and (e) of this section, distributions under subsection (d) of this section shall be made from the severance tax distribution account. The amount of distributions under subsection (d) of this section shall not exceed one hundred fifty-five million dollars ($155,000,000.00) in any fiscal year. To the extent that distributions under subsection (d) of this section would exceed that amount in any fiscal year, the excess shall be credited:

(d)  Deposits into the account created by subsection (a) of this section shall be distributed as follows, subject to subsections (c) and, (d) and (e) of this section:

(e)  Before making distributions from the severance tax distribution account under subsections (c) and (d) of this section, eleven million dollars ($11,000,000.00) per year shall be deposited into the state highway fund to be used solely for the purposes of construction and maintenance of four (4) lane state highways.  Distributions of revenues under this subsection shall be made in equal quarterly amounts.

Section 2.  This act is effective July 1, 2002.

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