The bill amends the Wyoming business ready community program by introducing new requirements for grants and loans. Specifically, it mandates that all grants must now include a minimum matching contribution of twenty-five percent (25%) of the total eligible project costs. Additionally, the bill clarifies that grants and loans can only be used for economic development, planning, or infrastructure projects, explicitly removing educational development from the eligible uses. The council is also tasked with ensuring that all projects are related to these specified areas and may limit planning grants and loans as necessary.

Furthermore, the bill modifies the criteria for grants aimed at expanding existing businesses in the information technology storage sector, removing previous references to the University of Wyoming business technology center. The changes will apply to all grants and loans issued under the program starting from the effective date of July 1, 2026. Overall, the bill seeks to enhance the focus and accountability of the Wyoming business ready community program by tightening eligibility requirements and ensuring a financial commitment from grant recipients.

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