This bill amends existing laws regarding the investment of state funds in Wyoming, specifically focusing on the roles and responsibilities of the investment funds committee and the state treasurer. It grants the investment funds committee the authority to approve the selection of investment managers and allows for the delegation of this approval power to the state treasurer, contingent upon a majority vote from the committee. The bill stipulates that each delegation of authority must be specific to individual investment manager selections, rather than a blanket approval for all managers. Additionally, it requires the state treasurer to report to the investment funds committee at least semi-annually regarding the performance of hired investment managers.

The bill also includes provisions for the investment funds committee to hold a minimum of four meetings annually and specifies that decisions will be made by a majority vote of the committee members. It replaces the term "section" with "act" to reflect the creation of multiple statutory sections requiring majority action from all committee members. Furthermore, the state treasurer is tasked with ensuring that investment managers provide quarterly performance reports, which will be used for the semi-annual reports to the committee. The act is set to take effect on July 1, 2025.