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 local governments specify the handling of earnings from these investments through appropriate ordinances or resolutions.

The legislation also includes provisions for reporting and crediting earnings from investments, ensuring that interest, dividends, and rents are credited to the appropriate accounts within specified timeframes. Notably, the bill does not include a requirement for the duration of investments, which was previously considered. The act is set to take effect on July 1, 2025, and requires a two-thirds vote from both houses of the legislature for enactment, as stipulated by the Wyoming Constitution.