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 by requiring individuals to obtain consent from the Wyoming legislature before proceeding with such transactions. Specifically, the bill establishes that no person may sell or transfer real property in Wyoming to the federal government without first submitting a notice of intent and evidence of the federal government's constitutional authority to acquire the property. Failure to comply with this requirement will result in a civil penalty equal to the net proceeds from the sale or transfer.

Additionally, the bill outlines the process for legislative approval, stating that the Wyoming 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 transactions initiated on or after July 1, 2025, with an effective date of the same.