SF 123

ORIGINAL SENATE  ENGROSSED
FILE NO. SF0123
       ENROLLED ACT NO. 69, SENATE
       SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING
                    2026 BUDGET SESSION
AN ACT relating to the administration of the government;
creating the Wyoming energy dominance fund; specifying
authorized uses and requirements of the fund; authorizing
grants and loans from funds within the Wyoming energy
dominance fund as specified; requiring reports; providing
findings; modifying distribution of severance tax revenues;
providing for the deposit of funds into the Wyoming energy
dominance fund; making conforming amendments; and providing
for an effective date.
Be It Enacted by the Legislature of the State of Wyoming:
     Section 1. W.S. 37-5-503(j) and 39-14-801(b)(v), (vi)
and by creating a new paragraph (vii) are amended to read:
    37-5-503.     Purposes; report.
     (j) Before    any  appropriation   is   made  to   the
authority, the authority shall submit its budget for review
as provided by W.S. 9-2-1010 through 9-2-1014. Except for
funds expended from the Wyoming energy dominance fund, any
appropriation to the authority shall be expended only for
administrative purposes, which shall include planning and
research.
     39-14-801. Severance tax distributions; distribution
account created; formula.
     (b) Before making distributions from the severance
tax distribution account under subsections (c) through (e)
of this section, an amount equal to two-thirds (2/3) of the
amount of tax collected under W.S. 39-14-104(a)(i) and
(b)(i) and 39-14-204(a)(i) for the same period shall be
deposited as follows:
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ORIGINAL SENATE  ENGROSSED
FILE NO. SF0123
       ENROLLED ACT NO. 69, SENATE
       SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING
                    2026 BUDGET SESSION
          (v) For fiscal year 2023 through fiscal year
2028 2026 these funds shall be deposited equally to the
permanent Wyoming mineral trust fund and to the common
school account within the permanent land fund;
          (vi) For fiscal year 2029 and thereafter 2027
these funds shall be deposited two-thirds (2/3) to the
permanent Wyoming mineral trust fund and one-third (1/3) to
the common school account within the permanent land fund to
the Wyoming energy dominance fund, not to exceed a total of
one   hundred   five    million    dollars    ($105,000,000.00)
deposited into the Wyoming energy dominance fund. Funds
exceeding     one     hundred     five      million     dollars
($105,000,000.00)   during    fiscal   year    2027  shall   be
deposited one-half (1/2) to the permanent Wyoming mineral
trust fund and one-half (1/2) to the common school account
within the permanent land fund;.
          (vii) For fiscal year 2028 and thereafter these
funds shall be deposited two-thirds (2/3) to the permanent
Wyoming mineral trust fund and one-third (1/3) to the
common school account within the permanent land fund.
     Section 2.
     (a)   The legislature finds that:
          (i) Wyoming is blessed with an abundance of
energy and natural resources that have long powered the
state's economy and supported the prosperity of the state's
communities;
          (ii) Energy   is   Wyoming's  number   one  (1)
industry, contributing up to twenty-five percent (25%) of
the state's gross state product over the past decade and
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ORIGINAL SENATE  ENGROSSED
FILE NO. SF0123
       ENROLLED ACT NO. 69, SENATE
       SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING
                    2026 BUDGET SESSION
generating     nearly    ninety-five   billion    dollars
($95,000,000,000.00) in total economic impact since 2015.
Wyoming leads the nation in coal production, supplying
about forty percent (40%) of the United States total
production, and ranks seventh in crude oil production and
tenth in natural gas production;
          (iii) Wyoming has the world's largest trona
deposit, produces two-thirds (2/3) of the United States'
bentonite, forty percent (40%) of its uranium and over
twenty percent (20%) of the world's helium;
          (iv) Wyoming    is   also  a   net   exporter   of
electricity and the largest energy exporter in the western
interconnection, with the highest net exports per capita;
          (v) The mineral and energy industries directly
and indirectly support more than sixty thousand (60,000)
Wyoming jobs, paying approximately two billion dollars
($2,000,000,000.00) in annual wages, and have generated
approximately        twenty-eight      billion      dollars
($28,000,000,000.00) in state and local tax revenue during
the last ten (10) years. These revenues fund Wyoming's
schools, infrastructure and essential public services
through mechanisms like the permanent Wyoming mineral trust
fund,   now   valued    at  over  eleven   billion  dollars
($11,000,000,000.00);
          (vi) It is in Wyoming's and the United States'
best interest to unlock the full potential of our
affordable and reliable energy resources. Doing so will
drive economic opportunity across the state, strengthen the
communities that have fueled this nation for generations
and reinforce economic and national security, ensuring that
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ORIGINAL SENATE  ENGROSSED
FILE NO. SF0123
       ENROLLED ACT NO. 69, SENATE
       SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING
                    2026 BUDGET SESSION
Wyoming remains the energy backbone of the United States
for decades to come.
     Section 3.
     (a) There is created the Wyoming energy dominance
fund to be administered by the Wyoming energy authority.
The fund shall consist of those funds designated to the
account by law and all funds received from contributions,
grants, gifts, transfers, bequests and donations to the
fund. All investment earnings from the Wyoming energy
dominance fund shall be credited to the fund.
     (b) Funds in the Wyoming energy dominance fund are
continuously appropriated to the Wyoming energy authority
in order to:
          (i) Provide    grants   for   private   or   federal
funding for applied research, demonstration, pilot projects
or commercial development projects related to Wyoming
energy   needs,   including   coal   innovation,    coal-fired
electricity, trona and bentonite development projects,
natural    gas,     enhanced    oil     recovery,     pipeline
infrastructure, energy exports, uranium conversion, uranium
enrichment, fuel fabrication, rare earth and critical
mineral processing, separation and manufacturing, baseload
energy development and deployment and grid innovations.
Grants shall not be provided for wind or solar energy
projects. For purposes of this paragraph:
               (A) Expenditure of funds awarded under this
paragraph shall be conditioned upon receipt of matching
funds in a ratio of one dollar ($1.00) of funds from the
Wyoming energy dominance fund to not less than one dollar
($1.00) of nonstate funds;
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ORIGINAL SENATE  ENGROSSED
FILE NO. SF0123
       ENROLLED ACT NO. 69, SENATE
       SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING
                    2026 BUDGET SESSION
               (B) Project matching funds shall be secured
by the applicant before a grant or award is issued pursuant
to this paragraph;
              (C) In-kind contributions    shall not   be
eligible as matching funds under subparagraph (A) of this
paragraph;
               (D) Prior investment or capital spent by
the applicant before an application for funds is filed
shall not be eligible as matching funds under subparagraph
(A) of this paragraph.
          (ii) Provide loans as determined by the Wyoming
energy authority, for applied research, demonstration
projects, pilot projects and commercial deployment projects
related to Wyoming energy needs, including coal innovation,
coal-fired electricity, trona and bentonite development
projects, natural gas, enhanced oil recovery, pipeline
infrastructure, energy exports, uranium conversion, uranium
enrichment, fuel fabrication, rare earth and critical
mineral processing and manufacturing, baseload energy
development and deployment and grid innovation. Loans shall
not be provided for wind or solar energy projects. Loans
provided under this paragraph shall at a minimum:
               (A) Be    made   only    if   the   applicant
demonstrates before receipt of the loan that all forecasted
project costs will be funded. The applicant shall identify
the source of all funds to be used for the project in a
written feasibility level business case provided to the
Wyoming energy authority at the time of loan application;
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ORIGINAL SENATE  ENGROSSED
FILE NO. SF0123
       ENROLLED ACT NO. 69, SENATE
       SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING
                    2026 BUDGET SESSION
               (B) Be     adequately    collateralized    as
determined by the Wyoming energy authority;
               (C) Credit all repayments of loans under
this paragraph to the permanent Wyoming mineral trust fund
reserve account;
               (D) Ensure    that   interest    rates,   if
applicable, shall be consistent with the federal funds rate
as of the date of the application, provided that any
interest rate for loans set shall be the effective federal
funds rate as reported by the federal reserve bank of New
York minus one percent (1%), but in no case shall the rate
be lower than zero percent (0%);
               (E) Charge the applicant a loan origination
fee or loan guarantee fee of not less than one percent (1%)
of the loan amount made from funds from the Wyoming energy
dominance fund;
              (F) The maximum loan duration of any loan
provided under this paragraph shall be not more than ten
(10) years;
               (G) The    Wyoming  energy   authority   may
require other terms and conditions on the loans provided as
deemed necessary.
          (iii) The Wyoming energy authority shall create
an   application process   where  the  authority  accepts
applications not less than one (1) time every four (4)
months for all grants and loans provided under this
subsection. The application process shall include, at a
minimum:
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ORIGINAL SENATE  ENGROSSED
FILE NO. SF0123
       ENROLLED ACT NO. 69, SENATE
       SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING
                    2026 BUDGET SESSION
              (A)   A concept paper phase;
              (B)   A full application phase;
              (C)   A public comment period;
              (D)   Attorney general legal review;
              (E)   Governor review and determination.
          (iv) Grant and loan recipients shall report the
expenditures and progress of an energy project funded by,
in whole or in part, a grant or loan with funds under this
subsection to the Wyoming energy authority on a quarterly
basis. At the end of the term of the grant or loan, the
recipient shall furnish a comprehensive report to the
Wyoming energy authority that shall, at a minimum, include
a cumulative financial audit conducted at the recipient's
expense and a list of the accomplishments achieved as a
result of the grant or loan.
     (c) The attorney general shall provide an opinion
certifying the legality of each grant or loan involving
funds disbursed or used from the Wyoming energy dominance
fund created by this section and shall share the opinion
with the Wyoming energy authority.
     (d) As a condition of expending     the    funds   in   the
Wyoming energy dominance fund:
          (i) The Wyoming energy authority shall notify
the management council of the legislature, the joint
appropriations committee and the joint minerals, business
and economic development interim committee of all proposed
expenditures from monies derived from the fund and the
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ORIGINAL SENATE  ENGROSSED
FILE NO. SF0123
       ENROLLED ACT NO. 69, SENATE
       SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING
                    2026 BUDGET SESSION
purposes and goals of each expenditure not less than thirty
(30) days prior to the expenditure being made; and
          (ii) The management council of the legislature
shall review and make recommendations on the proposed
expenditures of funds from the Wyoming energy dominance
fund by a majority vote.
     (e) This section shall be repealed on December 31,
2028. Any unexpended, unobligated funds remaining in the
Wyoming energy dominance fund on December 31, 2028 shall
revert to the permanent Wyoming mineral trust fund reserve
account.
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ORIGINAL SENATE  ENGROSSED
FILE NO. SF0123
       ENROLLED ACT NO. 69, SENATE
       SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING
                    2026 BUDGET SESSION
    Section 4.    This act is effective July 1, 2026.
                             (END)
Speaker of the House  President of the Senate
                           Governor
                  TIME APPROVED: _________
                  DATE APPROVED: _________
I hereby certify that this act originated in the Senate.
Chief Clerk
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