AN ACT relating to the administration of the government; creating the Wyoming energy dominance fund; specifying authorized uses and requirements of the fund; authorizing grants and loans from funds within the Wyoming energy dominance fund as specified; requiring reports; providing findings; modifying distribution of severance tax revenues; providing for the deposit of funds into the Wyoming energy dominance fund; making conforming amendments; and providing for an effective date.
This act creates the Wyoming Energy Dominance Fund. Funds within the Wyoming Energy Dominance Fund are appropriated to the Wyoming Energy Authority to provide grants and loans for energy-related applied research, demonstration, pilot projects and commercial development projects. This act requires an application process to apply for a grant or loan and the Attorney General is required to provide an opinion regarding the legality of the grant or loan. The Wyoming Energy Authority is required to notify the Management Council and the Joint Minerals, Business and Economic Development Interim Committee of all proposed expenditures from the fund. The Management Council may make recommendations on the proposed expenditures. This act authorizes the transfer of funds to provide funding for the Wyoming Energy Dominance Fund. This act has a sunset date of December 31, 2028. Comments: Requires a report.