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Committee reviews constitutional draft to create compounding-investment permanent revenue account
Summary
Legal staff and the state treasurer outlined a proposed constitutional amendment that would create a long-term account invested for at least 30 years, with distributions limited to enumerated public purposes after the compounding period.
LSO legal staff and State Treasurer Curt Meyer briefed the Select Committee on a constitutional amendment draft that would create a Wyoming Compounding Investments Permanent Revenue Account and require deposits to be held and reinvested for at least 30 years before earnings tied to a particular deposit can be spent.
LSO counsel described the draft as a constitutional vehicle to require long-term investment and compounding of appropriations the legislature places into the account. "The fund is called the compounding investments permanent revenue account," counsel said, noting the text places the new account alongside other constitutionally established permanent funds. The draft gives the legislature…
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