Wyoming could lend mineral trust money for approved highway work

The state treasurer could lend money from the permanent Wyoming mineral trust fund to the transportation department. Loans could pay for highway construction, improvements, and upkeep approved by the transportation commission. Outstanding loan principal could total no more than $250 million at a time. The treasurer would set a fixed interest rate based on what the money could earn from other investments, capped at 2.5%. The lending authority would take effect immediately if the bill becomes law and would not expire.

The state auditor would transfer money to the mineral trust fund to repay the loans and interest. Each year's transfer from the strategic investments and projects account would be limited to available, uncommitted money, the amount owed, or $50 million, whichever is least. If less than $50 million remains due and the projects account transfer falls short, the auditor would transfer the difference from the legislative stabilization reserve account. Transfers would start October 15, 2028, repeat each October 15, and stop once the loans and interest are repaid.

The transportation commission would direct available federal money to highway work. The money would go toward construction, improvements, and upkeep of highway projects the commission approves. The direction applies only to federal money that is available. This requirement would take effect immediately if the bill becomes law.