The proposed bill establishes new regulations regarding nondisclosure agreements for public officials in Wyoming. It defines key terms such as "government entity," "public funds," "public-funded project," and "public official." The bill explicitly prohibits public officials from entering into nondisclosure agreements that prevent them from disclosing information related to the use of public funds, public obligations, land use impacts, and information subject to the Public Records Act. Any such agreements made in violation of this provision are deemed void and unenforceable. Additionally, public officials are barred from negotiating public-funded projects if nondisclosure is a condition imposed by another party.

The bill outlines penalties for violations, including misdemeanor charges with fines up to $1,000 and potential termination or removal from office for public officials. It also grants Wyoming residents the right to seek legal remedies, such as declaratory judgments or injunctive relief, against agreements that violate these provisions. The act applies to all agreements made after its effective date, while not affecting contracts established prior to that date. The bill is set to take effect immediately upon completion of the necessary legislative processes.