The bill authorizes specified local governments in Wyoming to invest public funds in equities, including stocks of corporations. It amends W.S. 9-4-831(a) by adding a new paragraph (xxix) that outlines the requirements for such investments. These investments must comply with investment policy statements adopted by the state loan and investment board, and all associated risks will be assumed by the governmental entity making the investment. Additionally, local governments may establish an investment advisory board to provide guidance on these investments. The bill clarifies that investments made under this new provision will not be subject to certain existing regulations and emphasizes that the state treasurer retains the authority to invest state funds in equities as per existing law.

The bill also stipulates that no political subdivision can make investments in equities until the state loan and investment board has adopted the necessary investment policy statements. The act will take effect immediately upon completion of the legislative process, with the specific provisions regarding equity investments becoming effective on July 1, 2025. This legislation aims to expand the investment options available to local governments while ensuring that appropriate guidelines and oversight are in place.

Statutes affected:
Introduced: 9-4-831
Engrossed: 9-4-831