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S. 2273 · Senate bill · 119th Congress
This bill provides Wyoming with more flexibility to invest the principal of its permanent school fund by allowing the state to use earnings generated from investment of the fund rather than only interest.
By way of background, Congress created the fund when Wyoming became a state by granting certain federal lands to be held in a trust for the state. Proceeds from school trust land sales, exchanges, or disposals are deposited into the fund to support public schools.
This Act may be cited as the “Wyoming Education Trust Modernization Act”.
The Act of July 10, 1890 (26 Stat. 222, chapter 664), is amended—
(1) in section 5, in the first sentence, by striking “interest of” and inserting “earnings on”;
(2) in section 7, by striking “interest of” and inserting “earnings on”; and
(3) in section 8, in the first sentence, by striking “income thereof” and inserting “earnings on which”.