Legislation May Allow Mineral Revenues Used for State Operations

The Wyoming Legislature’s Joint Appropriations Committee is considering a bill that is still in draft status that would use mineral revenues for state government operations rather than be deposited into the Permanent Mineral Trust Fund.

The use of those funds for current spending would result in a smaller amount being placed into the state’s trust fund, which now is approximately $7 billion.

That nest egg is primarily for the future, according to State Treasurer Mark Gordon…

The bill under consideration would deploy severance tax money away from the mineral fund instead going straight into the general fund for educational spending and other current needs.

The current fiscal deficit has been estimated to be approximately $770 million over the next biennium.