The bill amends the Wyoming business ready community program by establishing new requirements for grants and loans. It specifies that all grants must now include a minimum matching requirement of twenty-five percent (25%) of total eligible project costs, which is a new insertion in the law. Additionally, the bill removes references to educational development in the context of eligible projects, focusing solely on economic development, planning, or infrastructure. The council will continue to administer the program and will require that all projects align with these updated purposes.

Furthermore, the bill clarifies that grants and loans can be applied for by various entities, including cities, towns, counties, and tribal governments, and emphasizes that the state loan and investment board will have the final approval authority for all grants and loans. The effective date for these changes is set for July 1, 2026, and the bill applies to all grants and loans made under the program from that date forward.

Statutes affected:
26LSO-0071 v0.4: 9-12-601