The bill establishes the County Consensus Funding Program, which is designed to provide grants for local government projects in Wyoming. It creates a new account, the county consensus account, to manage these funds and outlines the responsibilities of the office of state lands and investments in administering the program. The bill specifies that grants will be distributed to counties based on a formula that considers both state and county populations, as well as assessed valuations. Funds can only be used for capital projects and major maintenance of public facilities, and counties must demonstrate agreement among local governing bodies to be eligible for grants.

Additionally, the bill mandates reporting requirements for both the boards of county commissioners and the office of state lands and investments to ensure transparency and accountability in the use of grant funds. It includes provisions for the reversion of unspent funds and allows for the acceptance of additional contributions to the county consensus account. The act is set to take effect on July 1, 2027, with certain sections becoming effective immediately upon the bill's passage.