Vetoed by Governor Mark Gordon

Vote Smart's Synopsis:

Vote to adopt a conference report that authorizes entering into negotiations for the purchase of one million surface acres of land in southern Wyoming.

Highlights:

• Authorizes the state loan and investment board to investigate, conduct due diligence, and reach agreements to make one or more purchases of assets for investment that are located within the state (Sec. 1).

• Requires the state loan and investment board to develop recommendations for any purchase, and assets purchased will be limited to surface and subsurface interests, including mineral interests (Sec. 1).

• Requires the board of land commissioners to give final approval for any purchase that is negotiated by the state loan and investment board that provides for the investment of funds from the common school account within the permanent land fund or from any other funds appropriated to the board of land commissioners (Sec. 1).

• Requires the treasurer to consult with the state loan and investment board to identify funds within the account that the board has identified as funds potentially necessary to complete a purchase and separately invest those funds for the period to provide the liquidity needed to effectuate the purchase (Sec. 2).

• Requires $500 million be invested in short term fixed income investment-grade securities (Sec. 2).

Full Bill Text