All Roll Calls
Yes: 89 • No: 42
WyomingSF 1432025 General SessionSenateWALLET
AN ACT relating to public funds; authorizing the deposit of public monies in credit unions; making conforming amendments; and providing for an effective date.
Sponsored By: Tara Nethercott (Republican)
Signed by Governor
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Bill Overview
Analyzed Economic Effects
4 provisions identified: 2 benefits, 0 costs, 2 mixed.
Credit unions can hold public funds
Beginning July 1, 2025, the state treasurer may deposit public money in approved banks or credit unions that do business in Wyoming. Institutions must be chartered under U.S. or state law and be approved by the board. To be designated, a bank or credit union must file a written application with a sworn financial statement and a certified board resolution.
Stronger safeguards for public deposits
Beginning July 1, 2025, public deposits are protected by federal insurance for the insured portion. Any uninsured amount must be secured by a depository bond or approved collateral. Acceptable collateral includes bonds and other treasurer‑eligible securities, letters of credit from a Federal Home Loan Bank, or first mortgages and notes pledged at 1.5 to 1. Pledged collateral must at least equal the deposit and be assigned to the state.
Interest and withdrawal rules for public funds
Beginning July 1, 2025, a time deposit open account cannot be withdrawn before maturity without at least 45 days’ written notice. Savings accounts remain withdrawable on demand, but Wyoming institutions may require 30 days’ written notice. The board sets a minimum interest rate each quarter, effective on April 1, July 1, October 1, and January 1 for three months. Depositories must pay interest to the state treasurer quarterly on the first business day of January, April, July, and October and keep accurate records. The treasurer or a deputy may withdraw funds, and the treasurer is not personally liable for a depository failure when required security was used, unless due to lack of reasonable care.
Local governments use qualified depositories, negotiate rates
Beginning July 1, 2025, local governments must deposit money not otherwise invested in banks or credit unions that qualify under state law. Institutions that want these deposits must apply to the proper governing board. The board must act promptly and negotiate the interest rate before any deposit. Treasurers may deposit only in institutions the board approves.
Sponsors & Cosponsors
Sponsor
Tara Nethercott
Republican • Senate
Cosponsors
Abby Angelos
Republican • House
John Bear
Republican • House
Scott Heiner
Republican • House
Christopher Knapp
Republican • House
Lloyd Larsen
Republican • House
Eric Barlow
Republican • Senate
Evie Brennan
Republican • Senate
Bob Ide
Republican • Senate
Stacy Jones
Republican • Senate
Jared Olsen
Republican • Senate
Tim Salazar
Republican • Senate
Wendy Schuler
Republican • Senate
Roll Call Votes
House vote • 2/24/2025
H 3rd Reading:Passed 46-14-2-0-0
Yes: 46 • No: 14
House vote • 2/14/2025
H09 - Minerals:Recommend Do Pass 8-0-1-0-0
Yes: 8 • No: 0
Senate vote • 2/5/2025
S 3rd Reading:Passed 19-8-4-0-0
Yes: 19 • No: 8
Senate vote • 2/4/2025
Amendment failed 12-19-0-0-0
Yes: 12 • No: 19
Senate vote • 1/29/2025
S09 - Minerals:Recommend Do Pass 4-1-0-0-0
Yes: 4 • No: 1
Actions Timeline
Governor Signed SEA No. 0028
2/27/2025GovernorAssigned Chapter Number 58
2/27/2025H 3rd Reading:Passed 46-14-2-0-0
2/24/2025HouseAssigned Number SEA No. 0028
2/24/2025S President Signed SEA No. 0028
2/24/2025SenateH Speaker Signed SEA No. 0028
2/24/2025HouseH 2nd Reading:Passed
2/21/2025HouseH COW:Passed
2/20/2025HouseH09 - Minerals:Recommend Do Pass 8-0-1-0-0
2/14/2025HouseH Placed on General File
2/14/2025HouseH Introduced and Referred to H09 - Minerals
2/11/2025HouseS 3rd Reading:Passed 19-8-4-0-0
2/5/2025SenateH Received for Introduction
2/5/2025HouseS 2nd Reading:Passed
2/4/2025SenateS COW:Passed
2/3/2025SenateS09 - Minerals:Recommend Do Pass 4-1-0-0-0
1/29/2025SenateS Placed on General File
1/29/2025SenateS Introduced and Referred to S09 - Minerals
1/24/2025SenateBill Number Assigned
1/20/2025S Received for Introduction
1/20/2025Senate
Bill Text
Enrolled
Introduced
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