Committee backs lowering Mineral Trust Fund distribution from 5% to 4.5%

The House Appropriations Committee voted to report House Bill 270 do pass by a 6‑1 margin after the sponsor described the bill as a change to the Permanent Wyoming Mineral Trust Fund distribution policy designed to grow the corpus and improve long‑term returns.

Representative Sherwood presented the bill and said the change would reduce the immediate distribution from the fund from 5% to 4.5% and route the difference to the Permanent Wyoming Mineral Trust Fund reserve account created in prior legislation. “If we reduce this percentage, then the excess … will return to the permanent Wyoming Mineral Trust Fund reserve account,” Sherwood said. The sponsor said the goal is to allow the reserve to grow to a level where its returns can better support state spending in future years.

Assistant witnesses described the distribution percentage as a “distribution policy” that governs how much the state treasurer sends to spending accounts, not an explicit statutory cap on legislative appropriations. Fiscal note discussion identified accounts that receive distributions, including the Common School Foundation Program.

Tate Mullen of the Wyoming Education Association testified asking whether the Legislature should change the distribution now while debates over education funding continue, saying educators fear near‑term reductions in available school funding. “At the end of the day, what they see is a cut to education funding,” Mullen said.

The committee had limited debate and then approved the bill to move forward. The roll call recorded ayes from Representatives Aleman, Angelos, Bair, Harrelson, Pendergraft and Smith; Chairman Sherwood voted no. The committee reported the measure do pass with a 6‑1 tally.