This bill establishes a local government equity investment pool in Wyoming, allowing local governments to collectively invest their funds in equities, including stocks. It creates a joint powers board to oversee the pool's operations and an investment advisory committee to provide guidance on investment policies. The board will consist of members from participating local governments, who will serve terms determined by those governments. The bill outlines the board's responsibilities, including administering the pool, establishing fees, and ensuring compliance with investment procedures. It also sets limits on the amount of funds each local government can invest in the pool, capping it at 30% of their available reserves.

Additionally, the investment advisory committee will consist of seven members with significant investment experience and will be responsible for developing and reviewing investment policies. The committee will report annually on the pool's investment strategies and performance. The bill includes provisions for the appointment and removal of committee members, as well as guidelines for meetings and decision-making processes. The act is set to take effect on July 1, 2025.