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SF 145

Local governments-investments in equities.

2025 Regular Session Introduced by Elissa Campbell and 7 co-sponsors

Local governments in Wyoming can invest public funds in equities under state-adopted policies, with risk borne by the investing entity and new advisory oversight.

Assigned Chapter Number 96
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Bill Summary · SF 145

Summary — SF 145 (Enrolled Act No. 56, Chapter 96, 2025)

Status: Enacted (Governor signed; Chapter No. 96)
Introduced: January 28, 2025 — Effective: generally on enactment; Section 1 effective July 1, 2025.
Fiscal note: Impact not determinable (LSO).

Purpose

Authorize specified local governments and political subdivisions in Wyoming to invest public funds in equities (including corporate stocks) and establish requirements, oversight, and conditions for those investments.

Key provisions

  • Amends W.S. 9-4-831(a) by adding paragraph (xxix) to authorize the state treasurer and the treasurers of political subdivisions, municipalities, special districts, and various county boards/commissions (e.g., county hospitals, airports, fairs) to invest public funds in equities (including corporate stocks).
  • Requires that investments comply with “investment policy statements applicable to local government investing adopted by the state loan and investment board.”
  • All risks associated with equity investments under this paragraph are to be assumed by the governmental entity making the investment.
  • A political subdivision shall establish an investment advisory board to provide advice and expertise on equity investments.
  • Investments under paragraph (xxix) are explicitly not subject to paragraph (xxviii) of W.S. 9-4-831(a) nor to W.S. 9-1-419 (i.e., certain existing statutory constraints do not apply to these equity investments).
  • Directs the state loan and investment board to adopt investment policy statements for these local-government equity investments and to include requirements and conditions comparable to those in W.S. 9-4-715 and 9-4-716 (statutes governing investment of public funds).
  • Preserves the state treasurer’s existing authority to invest state funds in equities under current law.
  • Prohibits local political subdivisions from making equity investments authorized by this section until the state loan and investment board has adopted the required investment policy statements.
  • Directs the state treasurer and the state loan and investment board to take all actions necessary to implement the act.

Who is affected

  • Treasurers and governing bodies of Wyoming political subdivisions, municipalities, special districts, and specified county boards and commissions (they may invest public funds in equities subject to the new conditions).
  • State loan and investment board (must adopt policy statements and oversight conditions).
  • Local governments will bear the financial risk of equity investments they undertake.

Implementation & timing

  • Section 1 (authorizing local equity investments and related requirements) effective July 1, 2025.
  • Remaining sections effective on enactment (Act signed and assigned Chapter No. 96 in the 2025 session).
  • Local entities may not commence equity investments under this authorization until the state loan and investment board adopts the specified investment policy statements.

Fiscal impact

  • Legislative Service Office fiscal note states the fiscal or personnel impact is not determinable due to insufficient time to complete the fiscal note process.

Legislative history & sponsors

  • Sponsors: Senators Nethercott, Cooper, Crum, Dockstader, Landen; Representatives Campbell (E), Kelly, Wylie. (Primary sponsors listed include McClintock and Nethercott.)
  • Passed both chambers (Senate and House) and enrolled as SEA No. 0056; companion bill HF 651 noted.

Note: Readers seeking operational detail should consult the final enacted language (W.S. 9-4-831 and referenced statutes W.S. 9-4-715, 9-4-716, 9-1-419) and forthcoming investment policy statements to understand precise investment limits, governance, reporting, and risk-management requirements.

Compiled from official sources — confirm details with the bill’s official record.

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