Minerals, Business and Economic Development

Wyoming's SF 119 repeals the Strategic Investments and Projects Account, transferring its remaining funds (excluding penitentiary construction funds) to the state general fund by July 1, 2026. The bill preserves $10 million annual transfers from the repealed account to the Wyoming State Penitentiary Capital Construction Account until 2038, ending the dedicated funding stream for that project. All unexpended funds previously tied to the Strategic Investments account must be moved to the general fund by the 2026 deadline, with reports required to the legislature. This procedural bill directly affects state budget management and the penitentiary construction project's funding continuity.

This Wyoming bill (SF 55) amends regulations for Special Purpose Depository Institutions (SPDIs) - financial institutions that handle specific types of deposits, like those for government entities or nonprofits. It increases minimum capital requirements ($5 million), shortens the timeframe for SPDIs to begin operations from 6 months to 1 year, and creates a new "resolution fund" funded by supervisory fees to address failures. SPDIs must pay annual fees based on assets, with a portion deposited into this fund for resolution costs. The bill also revises application rules, appeal processes, and repeals outdated contingency account requirements for SPDIs.

This bill creates a legal right for electric utilities to maintain existing power lines installed before 2006 across private land, without requiring written agreements. It directly affects landowners with pre-2006 lines and utilities that historically relied on informal neighborly cooperation for rural electrification. Key provisions require lines to be visibly installed, continuously used, and limit easements to 30 feet wide, while preventing utilities from expanding rights beyond original historic use. The law protects landowners from unreasonable utility burdens and ensures existing informal arrangements receive legal recognition.

SF 54 establishes a formal process for special purpose depository institutions (SPDIs) to convert into state banks and for state banks to convert into SPDIs. It requires institutions seeking conversion to submit detailed plans for handling assets and liabilities, obtain shareholder approval, and meet capital requirements before applying to the banking commissioner. The commissioner must review applications within 90 days and issue a certificate of authority for operation within 30 days of approval, with strict deadlines for denials or corrections. This bill directly affects SPDIs and state banks wishing to change their charter status under Wyoming law.

Wyoming's HB 128 provides a 5-year severance tax exemption for oil and gas operators using certified advanced extraction methods (tertiary production) between July 2026 and July 2031. It directly affects oil and gas producers who implement qualifying projects approved by the Wyoming Oil and Gas Conservation Commission after July 1, 2026. The bill requires annual reports by the Commission and Department detailing production volumes, qualifying operators, wells, and the tax savings from the exemption. This exemption applies specifically to severance taxes under Wyoming law, with reports due each November 1 from 2026 through 2036.