The bill amends existing laws regarding the investment of state funds, specifically focusing on the pool A investment account. It establishes a new requirement that any new fund or account added to this investment pool must have a market value of at least five million dollars ($5,000,000) at the time of addition, effective July 1, 2024. Additionally, the bill removes two specific accounts—the unclaimed property account and the Wyoming national guard youth challenge program endowment account—from participation in the pool A investment account, as they were never funded or invested in this pool.

Furthermore, the bill clarifies that no legal action can be initiated against the state or its administrator regarding the investment of unclaimed property funds, specifically excluding the repealed accounts. The effective date for these changes is set for July 1, 2024. Overall, the legislation aims to streamline the investment process for state funds while ensuring that new accounts meet a minimum investment threshold.

Statutes affected:
24LSO-0135 v0.3: 9-4-715, 34-24-124