The bill authorizes the Department of State Parks and Cultural Resources, in collaboration with the Office of State Lands and Investments, to utilize specified state land parcels in Teton County for revenue-generating events. It establishes requirements for the approval and use of these parcels, including the necessity for prior approval from the Board of Land Commissioners. The department is permitted to host various events such as weddings and concerts, construct temporary structures, and enter into contracts for concessions related to these events. Additionally, all revenues generated from these events must be deposited quarterly into the common school account within the permanent land income fund.

To support the implementation of this act, the bill appropriates $3 million from the school foundation program reserve account to the Department of State Parks and Cultural Resources, with funds to be used for due diligence, site criteria development, and business planning for the events. The bill also mandates the promulgation of necessary rules for its implementation and specifies that any unexpended funds from this appropriation will not revert until June 30, 2026. The act is effective immediately upon completion of the legislative process.