The bill authorizes the investment of state funds and permanent funds in Bitcoin, establishing specific requirements and guidelines for such investments. It creates a new section, W.S. 9-4-722, which defines key terms related to Bitcoin, including "Bitcoin," "exchange-traded product," "private key," "qualified custodian," and "secure custody solution." The state treasurer is permitted to invest up to three percent of the general fund, the permanent Wyoming mineral trust fund, and the permanent land fund in Bitcoin, with provisions for secure custody and governance of these digital assets. Additionally, the state treasurer is required to report annually on the performance and security of these investments.

The bill also amends W.S. 9-4-714(a)(viii) to include the newly created section in the definition of "this act." It mandates that the state treasurer promulgate necessary rules for implementation and outlines the reporting requirements to the joint appropriations committee and the select committee on capital financing and investments. The act is set to take effect immediately upon completion of the legislative process as outlined in the Wyoming Constitution.

Statutes affected:
Introduced: 9-4-714