Bill > SF0191

This bill establishes new requirements for how Wyoming's state treasurer and Wyoming retirement board must manage and invest state funds, focusing primarily on ensuring that investments are made solely based on financial considerations (called "pecuniary factors") and not on environmental, social, governance (ESG), political, or ideological interests. The bill requires investment entities to make decisions exclusively to maximize financial returns, with a prudent investor standard, and mandates that all investment partners and vendors adhere to this approach. Investment entities must provide management oversight for proxy voting, ensuring votes are cast in the financial interests of Wyoming's investments, and must make these proxy vote details publicly available on the state treasurer's website for at least five years. The bill allows investment entities to take actions like requesting policy changes, voting proxies to force change, or divesting from investments that do not meet pecuniary criteria. Additionally, the bill authorizes two new full-time positions in the state treasurer's investments division and provides funding for these positions, with the bill taking effect on July 1, 2025. The legislation aims to ensure that state investment decisions are made purely on financial merits, without consideration of broader social or political goals.

Budget and Finance

https://www.wyoleg.gov/Legislation/2025/SF0191