Wyoming energy authority would fund selected energy projects

The Wyoming energy authority would use the fund to provide grants for approved energy research, demonstrations, pilot projects, and commercial development. Eligible projects include coal, natural gas, minerals, uranium, pipelines, energy exports, baseload power, and grid improvements. Wind and solar projects are excluded. Applicants must secure at least one dollar of nonstate matching funds for each dollar from the fund before receiving an award. In-kind contributions and money spent before the application are not eligible as matching funds. The act would take effect July 1, 2026. The fund provisions would expire December 31, 2028.

The Wyoming energy authority would make loans for approved energy research, demonstrations, pilot projects, and commercial development. Eligible projects include coal, natural gas, minerals, uranium, pipelines, energy exports, baseload power, and grid improvements. Wind and solar projects are excluded. Applicants must show that all expected project costs are funded and identify each funding source in a written business case. Loans must have adequate collateral, may last no more than ten years, and must charge at least a one percent origination or guarantee fee. Interest cannot be below zero percent, and loan repayments would go to the permanent Wyoming mineral trust fund reserve account. The loan provisions would apply beginning July 1, 2026, and the fund section would expire December 31, 2028.

The authority would accept grant and loan applications at least every four months and would require public, legal, executive, and legislative review before spending fund money. Grant and loan applicants and recipients would be covered. Recipients would report project spending and progress each quarter and provide a final audit and accomplishments report. The attorney general would certify the legality of each grant or loan involving fund money. The authority must notify specified legislative groups at least thirty days before proposed spending. The legislative management council would review proposed spending and make recommendations by majority vote. These rules would begin July 1, 2026. The fund section would be repealed December 31, 2028, and unspent, unobligated money would return to the permanent Wyoming mineral trust fund reserve account.