The bill amends the Wyoming Legal Tender Act by establishing specific duties for the state treasurer regarding the use and management of specie and specie legal tender. It mandates the state treasurer to authorize the payment of state and local taxes using these forms of currency, determine and publish real-time exchange rates between specie and other legal tender currencies, and facilitate the exchange of specie for other legal tender. Additionally, the treasurer is empowered to hold and invest in precious metals, hire consultants for assistance, and adopt necessary rules for implementation.

The bill also sets a timeline for the state treasurer to adopt the required rules by January 1, 2024, while the overall act becomes effective immediately upon the completion of legislative processes, with the exception of Section 1, which will take effect on the same date. This legislation aims to enhance the use of precious metals in financial transactions within the state, ensuring that the treasurer has the necessary authority and resources to manage these responsibilities effectively.