The bill establishes a new section in Wyoming law regarding firearm hold agreements, specifically addressing the liability of individuals who return firearms to their owners after such agreements have ended. Under the proposed law, no legal action can be taken against a person for returning a firearm to its owner at the conclusion of a firearm hold agreement, except in cases where the return is due to a breach of contract or unlawful conduct by the person holding the firearm. The bill defines a "firearm hold agreement" as an arrangement where a firearm owner entrusts their firearm to another person for a specified period, after which the firearm is returned according to the agreement's terms.

Additionally, the bill clarifies that it does not apply to firearms regulated under the National Firearms Act, including machine guns, rifles, and shotguns. The provisions of this act will be applicable to all firearm hold agreements entered into on or after July 1, 2025, and the act itself will take effect on that same date.