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 that can be invested by each local government and specifies the qualifications required for individuals managing these investments.

Additionally, the bill mandates that the investment advisory committee, composed of seven voting members with significant investment experience, will develop and review investment policies to maximize returns while ensuring safety and liquidity. The committee is required to report annually on the pool's investment strategies and performance. The act is set to take effect on July 1, 2025.