The bill continues the regulatory reduction task force established in 2023, specifying its membership and duties. The task force will include members from the Wyoming legislature, public representatives from various industries such as oil and gas, mining, agriculture, and local governments, as well as ex officio members from the executive department. The task force is tasked with identifying areas where regulatory burdens can be reduced and proposing legislative changes to achieve these reductions. It is required to report annually to the governor and relevant legislative committees on its findings and recommendations.

Additionally, the bill appropriates $55,000 from the general fund to the legislative service office for the compensation of legislative members of the task force and another $55,000 to the office of the governor for the compensation of public members. These appropriations are designated for the period ending June 30, 2026, and any unspent funds will revert as per the law. The task force is set to terminate on December 31, 2025, and the act will take effect immediately upon its passage.