Local governments-investments in equities.

Plain English Breakdown

The bill summary does not explicitly mention the requirement for local governments to establish an investment advisory board. This claim was removed as it is not supported by the official source material.

Local Governments Can Invest in Stocks

This law allows local governments to invest public money in stocks and other equities, with rules set by the State Loan and Investment Board.

What This Bill Does

• Allows cities, counties, towns, and special districts to directly buy stocks and other equities.
• Requires the State Loan and Investment Board to create investment policies for these investments.
• Says local governments must follow those policies when buying stocks or other equities.

Who It Names or Affects

• Local government entities like cities, counties, towns, and special districts
• The State Loan and Investment Board

Terms To Know

Equities

Stocks or other financial assets that represent ownership in a company.

Political subdivision

A local government entity like cities, counties, towns, and special districts.

Limits and Unknowns

• Local governments can't start investing until the State Loan and Investment Board sets rules.
• The law only applies to investments made after July 1, 2025.

Official Summary Text

Bill Summary - 25LSO-0720

Bill No.:

SF0145

Effective:

7/1/2025

LSO No.:

25LSO-0720

Enrolled Act No.:

SEA No. 0056

Chapter No.:

96

Prime Sponsor:

Nethercott

Catch Title:

Local governments-investments in equities.

Has Report:

No

Subject:

Authorizing local governments to make investments in stocks and equities.

Summary/Major Elements:

In an amendment adopted in 2022, the Wyoming Constitution provides that the Legislature may provide for the investment of funds belonging to local governments in equities.

This act authorizes local governments (generally, cities, counties, towns, and special districts) to directly invest in stocks and equities.

All risks of investing in stocks and equities are assumed by the governmental entity making the investment. The act provides that a political subdivision that invests in stocks and equities under this act must establish an investment advisory board that provides advice and expertise on local governments' investments in stocks and equities.

The State Loan and Investment Board is required to adopt investment policy statements for investments in stocks and equities under this act. The Board must include in these investment policy statements requirements and conditions that are comparable to the requirements and conditions specified in state law for the state's investments of public funds.

Investments in stocks and equities under this act must comply with all investment policy statements that the State Loan and Investment Board adopts that are applicable to local government investing. The act provides that no political subdivision can directly invest in stocks and equities until the State Loan and Investment Board adopts applicable investment policy statements.

Comments:

This act
has
a split effective date. Provisions authorizing rulemaking are effective immediately, while the remainder of this act is effective on July 1, 2025.
The above summary is not an official publication of the Wyoming Legislature and is not an official statement of legislative intent.

While the Legislative Service Office endeavored to provide accurate information in this summary, it should not be relied upon as a comprehensive abstract of the bill.

Current Bill Text

25LSO-0720

ORIGINAL Senate

ENGROSSED
File No
.
SF0145

ENROLLED ACT NO. 56,

SENATE

SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING
2025 General Session

AN ACT relating to public funds; authorizing specified local governments to invest in equities as specified; specifying requirements for investments in equities; specifying applicability; authorizing actions; and providing for effective dates.

Be It Enacted by the Legislature of the State of Wyoming:

Section 1
.

W.S. 9
‑
4
‑
831(a) by creating a new paragraph (xxix) is amended to read:

9
‑
4
‑
831.

Investment of public funds.

(a)

The state treasurer, or treasurer of any political subdivision, municipality or special district of this state, and the various boards of trustees and boards of directors of county hospitals, airports, fairs and other duly constituted county boards and commissions, may invest in:

(xxix)

Equities, including stocks of corporations. Investments made under this paragraph shall comply with all provisions of investment policy statements applicable to local government investing adopted by the state loan and investment board. All risks associated with the investment of equities under this paragraph shall be assumed by the governmental entity making the investment. A political subdivision shall establish an investment advisory board to provide advice and expertise on investments made under this paragraph. Investments made under this paragraph shall not be subject to paragraph (xxviii) of this subsection or W.S. 9
‑
1
‑
419. The state loan and investment board shall adopt investment policy statements for investments made by local governments and political subdivisions under this paragraph. The board shall include in the investment policy statements requirements and conditions comparable to the requirements and conditions specified in W.S. 9-4-715 and 9-4-716 for the investment of public funds. Nothing in this paragraph shall be construed to limit or alter the state treasurer's authority to invest state funds in equities in accordance with law.

Section 2
.

No political subdivision specified in W.S. 9
‑
4
‑
831(a)(intro) shall make investments authorized in W.S. 9
‑
4
‑
831(a)(xxix), as created by section 1 of this act, before the state loan and investment board adopts applicable investment policy statements in accordance with this act.

Section 3
.

The state treasurer and the state loan and investment board shall take all actions necessary to implement this act.

Section 4
.

(a)

Except as provided in subsection (b) of this section, this act is effective immediately upon completion of all acts necessary for a bill to become law as provided by Article 4, Section 8 of the Wyoming Constitution.

(b)

Section 1 of this act is effective July 1, 2025
.

(END)

Speaker of the House

President of the Senate

Governor

TIME APPROVED: _________

DATE APPROVED: _________

I hereby certify that this act originated in the Senate.

Chief Clerk

1