The bill establishes the Taxation and Revenue Task Force 2028, which will consist of various members including legislators, representatives from local governments, and experts in taxation and constitutional law. The task force is tasked with conducting a comprehensive analysis of current revenue sources for local governments, school districts, and special districts in Wyoming. It will assess whether these revenues can adequately support services and meet constitutional education mandates while ensuring equitable taxation. The task force is required to develop recommendations for sustainable revenue sources through 2050 and report its findings by December 31, 2026.

To support the task force's operations, the bill appropriates $36,000 from the general fund for legislative members' expenses and $90,000 for other task force members and expenses. These appropriations are designated for the period from the bill's effective date until December 31, 2027, and any unspent funds will revert to the state by June 30, 2028. The task force will be staffed by the Wyoming Department of Revenue and may retain consultants as needed, with state agencies required to provide requested information. The bill is effective immediately upon completion of the necessary legislative processes.