The bill establishes regulations regarding natural asset companies in Wyoming, defining them as entities recognized by the federal securities and exchange commission that manage rights to natural or agricultural areas for conservation and sustainable management. It explicitly prohibits these companies from managing any federal, state, or private land within Wyoming and restricts holders of conservation easements from utilizing or investing in natural asset companies.

Additionally, the bill prohibits the state treasurer from investing in natural asset companies, ensuring that state funds are not allocated to these entities. The legislation is set to take effect on July 1, 2024.