The proposed 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, local governments, 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, university boards, 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.