Bill > HB0041

This bill modifies Wyoming state law to expand the types of financial institutions that can issue irrevocable letters of credit for environmental bonding purposes in coal and noncoal mining operations and solid waste management facilities. Specifically, the bill now allows credit unions (in addition to banks) to issue these letters of credit, provided they are insured by the National Credit Union Administration (NCUA) or the Federal Deposit Insurance Corporation (FDIC). The bill permits operators to deposit irrevocable letters of credit, along with other financial instruments like cash, certificates of deposit, and government securities, as a form of financial guarantee to the Wyoming Department of Environmental Quality. The changes apply to letters of credit issued on or after July 1, 2025, and the environmental quality council is authorized to create rules to implement these modifications. By broadening the range of acceptable financial institutions, the bill provides more flexibility for operators seeking to meet environmental bonding requirements.

Business and Industry

https://www.wyoleg.gov/Legislation/2025/HB0041