The bill establishes the "Invest in Wyoming" program, which mandates that state funds be managed by investment managers located within Wyoming. The state treasurer is tasked with creating an annual list of intrastate investment managers, detailing their compliance with specified conditions. The selection of these managers will be based on a qualification process, including their historical performance and the requirement that they demonstrate independence from interstate investment managers. Contracts with these intrastate managers can be terminated by a majority vote of the board, and they must provide regular performance reports to the state treasurer.

Additionally, the bill introduces new definitions for "intrastate investment manager" and "interstate investment manager," clarifying the criteria for intrastate managers, such as residency in Wyoming and employment of certified professionals. It also specifies that intrastate managers are subject to certain investment policy statements and outlines the conditions under which the state treasurer may contract with both intrastate and interstate managers. The provisions of the bill will take effect on July 1, 2025, and will not affect any existing contracts made before that date.

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