The bill establishes the "Invest in Wyoming" program, which mandates that state funds be managed by intrastate investment managers located within Wyoming. The state treasurer is tasked with creating an annual list of these managers, ensuring they meet specific qualifications, including the submission of audited financial statements and proof of relevant certifications. The bill outlines the selection process for these managers, which requires a majority vote from the board and consultation with the investment funds committee. Additionally, it sets limits on the percentage of state funds that can be contracted with any single intrastate investment manager and stipulates that these managers must provide quarterly performance reports.

The bill also introduces new definitions for "intrastate investment manager" and "interstate investment manager," clarifying the criteria for each. It amends existing laws to ensure that intrastate investment managers are not subject to conflicting provisions in current statutes. The act is set to take effect on July 1, 2025, and it includes a provision that protects existing contracts made before this date. Overall, the legislation aims to promote economic diversification in Wyoming by prioritizing local investment management.

Statutes affected:
Introduced: 9-4-714, 9-4-718