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Budget panel authorizes up to $16M loan to process rare-earth resources after tense debate over government role
Summary
The budget footnote added a loan authority of up to $16 million, with the State Treasurer and Wyoming Energy Authority involved; members debated whether a loan (rather than a grant), source of funds (LSRA vs. CIPA), and the wisdom of state involvement given foreign-processing dominance.
The Joint Appropriations Committee added Section 3 12 to the budget bill, authorizing the state treasurer, upon favorable recommendation of the Wyoming Energy Authority and with the governor's approval, to enter a loan of up to $16,000,000 to support processing rare-earth resources located in Wyoming.
Chairman Bair explained the loan is a competitive, capped instrument intended to support at least one potential in-state processing facility and to preserve taxpayer stake in the project rather than…
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