This bill authorizes local governments in Wyoming to invest directly in equities, such as stocks of corporations, under specific conditions. It establishes new sections, W.S. 9-4-1401 and 9-4-1402, which define "local government" and outline the requirements for investing local government funds in equities. Key stipulations include that investments must be managed by individuals with significant investment experience and a clean legal record, and that local governments can only invest up to 30% of their available reserves. Additionally, the bill mandates that earnings from these investments be credited to the appropriate accounts within specified timeframes.

The legislation also requires local governments to report on their investments and earnings, ensuring transparency and accountability. It specifies that earnings from investments do not count towards the investment limits, allowing for reinvestment. The act is set to take effect on July 1, 2025. Notably, the bill reflects a significant shift in investment strategy for local governments, enabling them to diversify their portfolios and potentially increase their financial returns.