The proposed bill, titled "An Act to Preserve State Territorial Sovereignty," aims to regulate the sale or transfer of real property to the federal government in Wyoming. It establishes that no person may sell or transfer real property to the federal government without first obtaining consent from the Wyoming legislature. To acquire this consent, individuals must submit a notice of intent and evidence that the federal government is acquiring the property under a constitutional power, potentially involving eminent domain. Failure to submit this information before entering a legally binding agreement will result in a civil penalty equal to the net proceeds from the sale.

Additionally, the bill outlines the process for legislative approval, stating that the legislature or the management council must approve or reject the notice of intent within ten days of receipt. If no action is taken within that timeframe, the notice is deemed rejected. The bill also mandates the adoption of necessary rules and policies for implementation and specifies that it will apply to notices of intent entered into on or after July 1, 2025, with an effective date of the same.