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Gov. Mead suggests diverting money from Wyoming savings
Posted 10/19/12
CHEYENNE — Gov. Matt Mead says Wyoming should consider putting less money into savings to cover big-ticket items coming before the Legislature early next year.
Mead made the suggestion Tuesday in a speech before the Wyoming Taxpayers Association. He has ordered state agencies to prepare for 8-percent funding cuts in the face of sagging revenues.
The Casper Star-Tribune reports that Mead suggests the state could tap into the roughly $160 million a year of state mineral tax dollars that the Legislature directs into the state’s Permanent Mineral Trust Fund. That revenue stream is in addition to the money the state Constitution requires to go into the fund.
The Legislature in 2010 rejected Mead’s earlier suggestion to tap into the revenue stream to pay for highway work and to support local governments.