This bill amends the powers and duties of the Wyoming Business Council concerning the management of specified federal funds. It introduces new requirements for budget and reporting related to these funds, specifically those accepted under the American Rescue Plan Act of 2021 for the state small business credit initiative. The bill stipulates that any federal funds received by the council must undergo legislative review and appropriation, and it prohibits the revision or redistribution of these funds without legislative approval. Additionally, the council is required to detail all related financial activities in its annual report and budget, and it is explicitly stated that no state general funds can be used for administrative expenses related to these federal funds unless specifically appropriated by the legislature.

The bill also clarifies that it will not affect any existing contracts or obligations of the Wyoming Business Council that were established prior to the bill's effective date. The effective date for this legislation is set for July 1, 2027.

Statutes affected:
27LSO-0045 v0.4: 9-12-104