CHEYENNE, Wyo. (AP) — The state House has approved a bill that would allow the state to invest more money in large capital projects in Wyoming.
The House passed Senate File 24 on a 40-19 vote Monday. The proposal goes back to the Senate for changes made in the House.
The state now can use $100 million of Wyoming's permanent funds to buy industrial development bonds. The bill allows the state to use up to $600 million to buy bonds.
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Joint powers boards, counties and municipalities can issue the bonds to loan money to companies for economic development projects in the state.
The money comes out of the state's Permanent Mineral Trust Fund and must be approved by the state treasurer and the governor.