This bill appropriates fifteen million dollars ($15,000,000) from the Wyoming tourism reserve and projects account to the Wyoming office of tourism for a rodeo and cowboy museum and hall of fame project aimed at promoting tourism and preserving Wyoming's cowboy heritage. The funds will be distributed in three phases: $3 million will be available immediately, $2 million on July 1, 2026, and the remaining $10 million on July 1, 2027, or as soon as funds are available. The bill stipulates that these funds cannot be transferred or used for any other purpose and that any unspent funds will not revert until June 30, 2036.

Additionally, the bill outlines several conditions for the appropriation, including prioritization of the funds for the specified project before any transfers to the Wyoming outdoor recreation and tourism trust fund. The Wyoming tourism board is tasked with soliciting project proposals, ensuring they have a reasonable expectation of increasing tourism and economic benefits, and requiring matching funds from nonstate sources. The governor's approval is contingent upon a determination of substantial public benefit, and the office of tourism must report annually on the expenditures until 2036.