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Wyoming asks Congress to let state spend ‘earnings’ from permanent funds, not just interest
Summary
The Select Committee on Capital Financing & Investments on Thursday discussed House Joint Resolution 1, which asks Congress to amend Wyoming’s Act of Admission so the state can base spending on “earnings” rather than the narrower terms “interest” or “income.”
CHEYENNE — The Select Committee on Capital Financing & Investments on Thursday reviewed House Joint Resolution 1, a request that the U.S. Congress amend Wyoming’s Act of Admission so the state may spend “earnings” from permanent funds rather than being limited to “interest” or “income,” committee staff said.
The change would let Wyoming treat realized and unrealized investment gains the same way endowments and many public funds do, supporters told the committee, allowing state managers to pursue a broader set of long‑term investments on behalf of state beneficiaries.
LSO staff member Mr. Shaw told the committee the resolution asks the congressional delegation to replace the narrower wording in three spots…
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