Committee backs $10 million Cowboy State Agricultural Trust Fund, adds oversight and accounting fixes

Senate File 109, the Cowboy State Agricultural Trust Fund bill, was advanced out of the Travel, Recreation, Wildlife & Cultural Resources Committee after sponsor testimony, agency briefings and broad stakeholder support. The bill seeds a perpetual trust intended to support agriculture research, workforce development, value‑added processing and other grants directed toward sustaining Wyoming producers.

Sponsor Senator Bonner described the bill as part of the governor’s agricultural initiative and said it would establish a nine‑member Cowboy State Agriculture Initiative Committee, seed the fund with $10,000,000 and allow the state treasurer to invest the corpus while using earnings and matched donations to support grants and programs. The bill includes a 1‑for‑1 match requirement for non‑state funds similar to the state’s existing Wildlife and Natural Resource Trust model and requires reporting back to the Legislature.

Doug Miyamoto of the Department of Agriculture told the committee his agency can administratively host the program and provided a fiscal impact estimate for administration of about $21,000 per year (roughly $42,000 per biennium). Katie Smith, chief financial officer for the state treasurer’s office, recommended creating a separate expenditure or income account so the trust corpus could remain inviolate while allowing the state to spend investment earnings; she offered conforming language the sponsor could adopt.

Stakeholders including the Wyoming Wildlife Federation, Rocky Mountain Farmers Union, Wyoming Farm Bureau Federation and local ranchers testified in firm support, urging the committee to advance a vehicle that could finance research, meat processing, vocational training and other agriculture priorities in ways tailored to Wyoming producers.

The committee approved two committee amendments on voice votes. One inserts Department of Agriculture language on administration and appropriates $42,009.44 (biennium figure) to cover board and administrative expenses; the other amendment removed a sunset for the reporting requirement (striking the 10/01/2032 end date). The sponsor also flagged a potential Committee of the Whole conforming amendment to incorporate treasurer‑recommended language about spending earnings.

A roll call recorded five ayes (including an absentee aye from Senator Hicks) and the committee advanced the bill to the next legislative stage.

Votes at a glance: TRW Committee roll call on SF 109 (as amended) — recorded outcome: moved out of committee; committee tally: 5 ayes, 0 noes (absentee aye recorded).