The bill amends Wyoming's game and fish laws by replacing the term "trophy game animal" with "large carnivore game animal" throughout various sections, including definitions, hunting license management, and the responsibilities of the Wyoming Game and Fish Commission. It mandates the commission to establish rules for managing and hunting large carnivores, particularly gray wolves, once they are removed from the endangered species list. The bill emphasizes the need for monitoring populations and managing interactions between large carnivores and livestock, aiming to create a consistent framework for wildlife management in the state.

Additionally, the bill outlines the commission's authority to set hunting seasons and bag limits for large carnivores, establishes a compensation framework for damages caused by these animals, and specifies the licensing process for hunting them. It includes provisions for landowner eligibility for compensation, age restrictions for hunters, and rules for archery hunting. The bill clarifies the definition of "doing damage to private property" concerning gray wolves and requires the commission to create necessary rules for implementation. The act is set to take effect on January 1, 2024, with some sections becoming effective immediately after legislative processes are completed.