Legislature puts nearly $1 billion in savings

In his weekly interview with Northern Wyoming News, Senator Ed Cooper said that he was pleased overall with the work that the Senate did on the budget last week, saying "We came out with a really good budget on the Senate side."

He continued "There are a few things I didn't like, and there were a few things that I liked really well. Everyone has their own ideas."

Altogether, the Senate was able to construct a budget that closely matched that recommended by Governor Mark Gordon.

He was most pleased with the amount of money that they were able to put into savings for the state of Wyoming. Cooper said "We were able to move about $1 billion into savings from our excess this year."

Additionally, Cooper said that $30 million was put into business development, which he thinks is a wise investment in Wyoming's future. He also said that funding for agencies that provide services to intellectually or developmentally disabled individuals such as Big Horn Enterprises and O.W.L. Unlimited has been restored.

The Wyoming Wildlife and Natural Resource Trust Fund was fully funded, a development that Cooper was quite happy with. As a member of the Senate Minerals, Business & Economic Development committee, he is particularly invested in the projects that this program funds. He said, "That's a great program that is probably one of the stronger trust funds in Wyoming. It returns millions of dollars every year in our earnings back to conservation projects and wildlife enhancement and habitat projects." He also reported that in addition to reaching its funding goal of $200 million, it also secured $11 million in matching funds.

Cooper said that during the budget meetings last week, legislators began discussions about the funding of new school buildings across the state in districts that are trying to accommodate more students. He said "in some cases, there are essentially students sitting in hallways. So that's something we need to start looking at."

Although three days last week were set aside for the budget, property taxes were still a key talking point.

Cooper said that Senate File 136 had passed through the Senate, a bill that reduces property tax valuation. He claims that this introduces some issues as well, however. He said "When we cut property taxes, it cuts all the local services, and the funds that go to our cities, counties and school. So cutting property taxes is a dramatic thing locally." He continued that the sponsors of this bill had initially planned on compensating for the loss in property taxes by providing a "backfill" that would come out of the budget excess to help fund local entities, but they did not offer this solution. Instead, Cooper said that a senator from Casper spearheaded the effort to reflect the losses in property taxes in the budget, and $84 million was put toward this cause.

Cooper also spoke about Senate File 110, which seeks to eliminate property tax altogether. At the time of the interview, the bill had successfully been passed on second reading, and was set for a third reading on Feb. 6. It went on to fail in its third reading with 14 votes for and 17 votes against. He said of the bill that "On the surface it sounds like a really good idea, but we're talking about several hundred millions of dollars to the cities, counties and schools. In the bigger counties, maybe that's acceptable. But in my district: Hot Springs, Washakie, Big Horn, Park and Fremont counties, it's a death note. Without some kind of a backfill or a good plan in-between, it's extremely dangerous to smaller counties."

Cooper also voiced his thoughts on how budgetary affairs will look in the future in the absence of American Rescue Plan Act (ARPA) funds. ARPA funds were initially dispersed to organizations in Wyoming to provide financial relief during the COVID 19 pandemic, and Cooper said that a majority of the budget surplus this year came from ARPA funds. He said that it has been great to be able to rely on them for financial security for these years, but that it is concerning to think about what will happen when these funds run out. He said "When these ARPA funds are gone, our surplus goes away again."

He continued "Something to keep in mind is that the prices of oil, natural gas and coal are all down from earlier this year. That all reflects as large revenue drops next year. Those concerns in future revenues are still very real. We are not out of the woods."

He stated that these concerns are an example of why this year was a great opportunity to put money back into savings, and called that decision "very important".

In the Minerals, Business & Economic Development Committee last week, Cooper was proud to announce that Senate File 154, a bill that he is sponsoring, had passed through third reading in the Senate and was passed over to the House of Representatives. This bill seeks to aid in the construction and expansion of oil and gas refineries in Wyoming.

Last week also saw House Bill 69 make its way from the House to the Senate's Minerals Committee. This bill would provide $1.5 million to pay for litigation in protecting Wyoming coal-fired facilities from legal actions that would cause their closure. This would serve to bolster the protection Wyoming offers to its energy production industry.

Cooper said "That's a great bill. I'll carry that on the floor for the Senate side."

For this week's business, Cooper said Sunday that he looks forward to supporting Martha Lawley's property tax deferral program, House Bill 121. Lawley (R-Worland) is sponsoring the bill that would amend a previously existing tax deferral bill to make it more accessible to those who would apply and move responsibility from county commissioners to the Department of Revenue. Cooper said "I plan on supporting that and carrying that through the Senate."