S. 2273

Wyoming Education Trust Modernization Act

Sponsor: Cynthia M. Lummis

1 cosponsor
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Official summary

Written by the Congressional Research Service.

Wyoming Education Trust Modernization Act

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.

Text of the bill

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Sec. 2. Disposal of public land in the State of Wyoming for educational purposes Since introduced

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.