This bill mandates the development of a blockchain or other distributed ledger filing system by the University of Wyoming's Center for Blockchain and Digital Innovation in collaboration with the Secretary of State. The system will facilitate the submission of all required filings, which include documents and data mandated by law. It will utilize blockchain technology or other distributed ledger technology as its framework, incorporating features such as an application programming interface, security measures, and authenticated digital corporate identity. The bill also allows for consultation with various stakeholders and potential partnerships with technology innovators to enhance the system's development.

Additionally, the bill establishes a digital ledger filing system account, into which the first two million dollars collected under a specified statute will be deposited starting April 1, 2025. An appropriation of two million dollars is allocated from this account to the University of Wyoming for the purposes outlined in the act, with specific conditions regarding the use and reversion of unexpended funds. The Secretary of State is authorized to adopt rules to implement the provisions of this act, which will take effect immediately upon the completion of necessary legislative processes.