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 as its framework and may incorporate various components such as application programming interfaces and security measures to enhance the administration of state laws. The bill also allows for consultation with interested parties and potential partnerships with technology innovators to ensure the system's effectiveness.

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 development of the filing system, with strict guidelines on the use of these funds and a reversion clause for any unspent amounts. The act is set to take effect immediately upon the completion of necessary legislative procedures.