State Investments

lelandforwyoming.com

Republican state senator Leland Christensen of Alta is running for Wyoming Treasurer. He does not have a background in finance, but said the treasury staff is highly skilled, and that he would act more as a manager of people. Previous treasurers have also entered the position without a finance background.  

Legislative Service Office

Despite some strong opposition, the Wyoming House of Representatives gave final approval to a bill that would set up an investments task force with the goal of getting more money out of Wyoming’s investments. 

Wikipedia Creative Commons

A proposed constitutional amendment would let the state treasurer invest money from the state’s non-permanent savings and trust funds into the stock market. 

The Wyoming House started work on the bill this week. House Appropriations Chairman Steve Harshman says the idea is to let the treasurer be more aggressive and get a better financial return. 

“And the rules are really changing, we used to think that interest bearing or bonds were always the safest. As we know now those aren’t always the safest as we once thought.”

Wyoming Legislature

The State Senate is continuing work on a Constitutional Amendment that allows the State Treasurer to invest various state funds in common stocks. The state currently invests permanent funds in common stocks, but the state constitution does not allow such investment of other state funds.

Senator Chris Rothfuss says the return on those state funds is very low. He says this change would do a lot for the state savings.

State of Wyoming

Wyoming legislators will look to amend the state constitution in order to invest reserve account money in the stock market.  While there is risk associated with the move, State Treasurer Mark Gordon says that risk can be minimized with proper investing.

“Take some of those savings and invest them more broadly, into stocks not only bonds, so balancing the risks to make sure that the state’s savings actually not only return a little bit more…but are more defensibly invested.”

He says Wyoming’s investments overcame the economic downturn in the last decade.