The bill amends existing laws regarding the distribution of public funds, specifically focusing on the school major maintenance subaccount and the school lands mineral royalties account. It establishes that beginning July 1, 2024, and for each fiscal year thereafter, the state auditor will transfer all funds from the school major maintenance subaccount and the school lands mineral royalties account to the school capital construction account at intervals determined to manage cash flow. This change aims to streamline the funding process for school capital construction projects.

Additionally, the bill clarifies the timing of transfers from the strategic investments and projects account, ensuring that after all required transfers to the school major maintenance subaccount, the state treasurer will allocate $10 million from unobligated funds to the Wyoming state penitentiary capital construction account until July 1, 2038. The effective date of the bill is immediate upon completion of all necessary legislative actions.