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Wyoming committee forms working group to refine proposed generational fund
Summary
The Select Committee on Capital Financing & Investments voted to form a legislative working group to refine statutory and constitutional drafts for a proposed generational savings fund, deferring further action on the bill while staff and treasurer's office prepare revised drafts for the next session.
The Select Committee on Capital Financing & Investments on Tuesday authorized a bipartisan working group to refine two companion proposals that would create a long‑term “generational” investment fund.
Representative Nicholas moved for the committee to create a small working group of legislators, Legislative Service Office staff and treasurer’s office representatives to reconcile the statutory draft and the constitutional resolution, identify revenue sources and prepare a deliverable for the next budget session. "I think all of us are intrigued and desirous of having some type of a generational fund," Nicholas said when offering the motion.
Committee members emphasized this vote would not advance the underlying bill. Vice Chairman Bair and others clarified the body was voting only to form the working group and not to appropriate funds or approve a proposed statutory language on the floor. The motion was seconded and passed by voice vote.
Members asked the working group to focus on: (1) how contributions would be sourced, (2) how returns would be measured and attributed across pooled dollars, and (3) whether the measure should be placed before voters. Representative Storer requested scenario charts that show year‑by‑year payout pressures under different return assumptions so legislators can understand potential requirements for state disbursements decades out.
Representative Bair, while supportive of the fund concept, said public messaging will be critical: "I think the challenge really becomes selling this to the public, let alone the legislature on the floor in this next session," she told the committee. Senator Crum and others said they favored putting a finalized proposal to voters once the working group completes technical legwork.
The working group will meet in the interim, aim for draft language to circulate to the committee and the treasurer’s office before the February budget session, and return with revised drafts and recommendations.
The committee recorded the motion as passed and moved to its next agenda item.
