Local governments-investments in equities.
What changed between versions
Added explicit authorization for local governments, including political subdivisions, municipalities, special districts, and county boards to invest in equities.
Requires local governments to establish investment advisory boards to provide advice and expertise on equity investments.
Mandates that all risks associated with equity investments be assumed by the governmental entity making the investment.
Added requirement that investment policy statements for local government equity investments be adopted by the state loan and investment board, with conditions comparable to existing public fund investment requirements.
Clarifies that equity investments under this new provision are exempt from certain existing investment restrictions (paragraph xxviii and W.S. 9-1-419).
Establishes that local governments cannot make equity investments until the state loan and investment board adopts applicable investment policy statements, with Section 1 effective July 1, 2025.
