The bill establishes regulations regarding the use of state and federal funds in relation to sexually explicit events in Wyoming. It defines a "sexually explicit event" as any show or presentation that lewdly depicts nudity or sexual conduct, explicitly including drag queen events, while excluding age-appropriate sexual education. The bill prohibits various government entities, including state agencies and educational institutions, from using public funds to sponsor or contribute to such events.

Additionally, the bill outlines a process for determining whether an event is sexually explicit, which involves specific entities such as the governor and local school boards. A decision must be made within 30 days of a request, and the requestor has 15 days to appeal the decision through a contested case hearing. If it is found that public funds were used for a sexually explicit event, the recipient must repay those funds within 20 business days. The act is set to take effect on July 1, 2025.