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Wyoming2006Enacted

SF0042

Wyoming Public Fund Investment Changes

Last scannedOct 18, 2026, 2:19 AM

In one sentence

This law removes the requirement for local public funds to stay in Wyoming banks and allows officials to invest in certificates of deposit that may be held in banks across the United States.

What it does

  • Removes the rule that local government funds must be kept on deposit in Wyoming at all times.
  • Allows the State Treasurer and local treasurers to invest in certificates of deposit from banks and savings associations.
  • Permits banks to arrange for public funds to be deposited in other banks across the United States.
  • Requires that any new investments be insured by the Federal Deposit Insurance Corporation (FDIC).
  • Allows banks to act as custodians for public funds when they are invested in other institutions.

Who it affects

  • Treasurers of political subdivisions, municipalities, and special districts.
  • Boards of trustees and directors of county hospitals, airports, and fairs.
  • Banks, savings and loan associations, and federal savings banks doing business in Wyoming.

Limits and unknowns

  • The law does not specify which exact banks or savings associations are selected to participate.
  • The text does not detail the specific interest rates or returns these investments will generate.
  • The source does not explain how this change affects the total amount of money available for local government spending.

Plain language

Terms to know

Certificate of Deposit
A bank product that pays interest on a fixed amount of money for a set time.
Federal Deposit Insurance Corporation (FDIC)
A U.S. agency that insures deposits in banks and savings associations.
Custodian
A bank or institution that holds and manages assets for another party.

Official record

Sources

Source checked
Official bill pageIntroduced textOfficial digestOfficial summaryCurrent bill text
Read the official summary

SF0042 Bill Summary Bill No.: SF0042 Drafter: MRW LSO No.: 06LSO-0304 Effective Date: 3/10/2006 Enrolled Act No.: SEA0011 Chapter No.: 38 Prime Sponsor: Joint Minerals, Business and Economic Development Interim Committee Catch Title: Public funds-investments. Subject: Eliminates the requirement to keep funds on deposit in Wyoming. Summary/Major Elements: Allows banks to participate in national investment pools by eliminating the requirement that funds be kept on deposit in Wyoming. Provides for additional investments of public funds by the State Treasurer or any treasurer of any political subdivision, municipality or special district, and various boards of trustees and boards of directors of county hospitals, airports, fairs and other duly constituted county boards and commissions. Affects banks, savings and loan associations or federal savings banks.

Public statements

Why lawmakers voted

Last checked Sep 12, 11:05 AM

Voted Yes

Why they voted this way

The lawmaker supports the bill because it allows public funds to remain in Wyoming, increasing bank liquidity and supporting local lending while maintaining FDIC insurance coverage.

Public statementFloor statement at 1:14:19 Watch the statement

Wyoming roll calls

Recorded votes

5 roll calls

H Passed 3rd Reading 57-0-3-0-02006-03-06 · House57 yes 0 no
Yes
57
No
0
Absent
0
Excused
3
Conflict
0

Yes 57

Alan C JonesH25Ann RobinsonH58Becket HinckleyH41Bill ThompsonH60Bruce BarnardH49Colin SimpsonH24David R EdwardsH06Debbie HammonsH27Deborah AldenH03Del McOmieH54Douglas OsbornH40Doug SamuelsonH07Edward BuchananH04Elaine HarveyH26Erin E Mrs. MercerH53EsquibelFrank PhilpH34George BagbyH15Gerald GayH36Jack D Landon Jr.H30James C HagemanH05Jane WarrenH13Jeff WasserburgerH32Jerry IekelH29Jim SlaterH46John HastertH39Kathleen DavisonH20Keith M GingeryH23Kermit C BrownH14Kevin A WhiteH45Larry MeuliH08Layton D MorganH12Lorraine K QuarbergH28Mark SemlekH01Marty A MartinH48Mary GilmoreH59Mick PowersH18Monte OlsenH22Owen PetersenH19Pat ChildersH50Pete JorgensenH16Peter S IllowayH42Randall B LuthiH21Robert A BrechtelH38Rodney "Pete" AndersonH10Rosie M BergerH51Ross DiercksH02Roy CoheeH35Stephen D WattH17Steve HarshmanR · H37Thomas A LockhartH57Tom Lubnau IIH31Tom WalshH56Wayne ReeseH11W. Patrick P GogglesH33Zwonitzer, DK.Zwonitzer, DL.

Excused 3

Burke JacksonH52David R MillerH55Kurt BucholzH47
H09 Recommended Do Pass 9-0-0-0-02006-02-24 · House9 yes 0 no
Yes
9
No
0
Absent
0
Excused
0
Conflict
0

Yes 9

Becket HinckleyH41Debbie HammonsH27Doug SamuelsonH07Elaine HarveyH26Erin E Mrs. MercerH53EsquibelLorraine K QuarbergH28Robert A BrechtelH38Thomas A LockhartH57
S Passed 3rd Reading 30-0-0-0-02006-02-20 · Senate30 yes 0 no
Yes
30
No
0
Absent
0
Excused
0
Conflict
0

Yes 30

Austin "Kit" JenningsS28Bill HawksS29Bill Mr. VaseyS11Bruce Burns Jr.S21Cale CaseR · S25Charles ScottR · S30Chuck TownsendS01Curtis MeierS03E. Jayne MocklerS08Gerald E GeisS20Grant C LarsonS17Henry R CoeS18Jim AndersonS02John BarrassoS27John C SchifferS22John G HanesS05John J HinesS23Kathryn L SessionsS07Kenneth J DecariaS15Michael J Mr. Von FlaternS24Mike MassieS09Patricia L AullmanS16Phil A NicholasS10Rae L JobS12Ray R PetersonS19Robert A PeckS26Stan CooperS14Tex BoggsS13Tony RossS04Wayne H JohnsonS06
S09 Recommended Do Pass 4-0-0-0-12006-02-15 · Senate4 yes 0 no
Yes
4
No
0
Absent
0
Excused
0
Conflict
1

Yes 4

Austin "Kit" JenningsS28Bill HawksS29Bill Mr. VaseyS11Chuck TownsendS01

Conflict 1

Henry R CoeS18
S Introduced and Referred to S09 30-0-0-0-02006-02-13 · Senate30 yes 0 no
Yes
30
No
0
Absent
0
Excused
0
Conflict
0

Yes 30

Austin "Kit" JenningsS28Bill HawksS29Bill Mr. VaseyS11Bruce Burns Jr.S21Cale CaseR · S25Charles ScottR · S30Chuck TownsendS01Curtis MeierS03E. Jayne MocklerS08Gerald E GeisS20Grant C LarsonS17Henry R CoeS18Jim AndersonS02John BarrassoS27John C SchifferS22John G HanesS05John J HinesS23Kathryn L SessionsS07Kenneth J DecariaS15Michael J Mr. Von FlaternS24Mike MassieS09Patricia L AullmanS16Phil A NicholasS10Rae L JobS12Ray R PetersonS19Robert A PeckS26Stan CooperS14Tex BoggsS13Tony RossS04Wayne H JohnsonS06

Official activity

Bill history

  1. Assigned Chapter Number - 38LSO
  2. Governor Signed SEA No. 0011Governor
  3. H Speaker Signed SEA No. 0011House
  4. S President Signed SEA No. 0011Senate
  5. Assigned Number SEA0011LSO
  6. H Passed 3rd ReadingHouse
  7. H Passed 2nd ReadingHouse
  8. H Passed CoWHouse
  9. H Placed on General FileHouse
  10. H09 Recommended Do PassHouse
  11. H Introduced and Referred to H09House
  12. H Received for IntroductionHouse
  13. S Passed 3rd ReadingSenate
  14. S Passed 2nd ReadingSenate
  15. S Passed CoWSenate
  16. S Placed on General FileSenate
  17. S09 Recommended Do PassSenate
  18. S Introduced and Referred to S09Senate
  19. S Received for IntroductionSenate
  20. Bill Number AssignedLSO