The proposed bill, titled "An Act to Preserve State Territorial Sovereignty," establishes regulations regarding the sale or transfer of real property to the federal government in Wyoming. It prohibits individuals from selling or transferring 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 an enumerated constitutional power, which may include the use of 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 or transfer.

Additionally, the bill outlines the process by which the legislature or the management council can approve or reject the notice of intent, requiring a decision within ten days of receipt. If no decision is made within that timeframe, the notice is deemed rejected. The bill 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.