All Roll Calls
Yes: 259 • No: 108
WyomingSF 1912025 General SessionSenate
AN ACT relating to state funds; requiring the state treasurer and the Wyoming retirement board to provide for proxy voting associated with the investment of state funds; specifying investment criteria to ensure investments are made only on pecuniary factors; providing definitions; authorizing contracts and the use of investment earnings; making conforming amendments; specifying applicability; authorizing full‑time positions; and providing for an effective date.
Sponsored By: Bo Biteman (Republican)
Signed by Governor
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 2 benefits, 0 costs, 1 mixed.
Wyoming makes state shareholder votes public
Beginning July 1, 2025, Wyoming’s state treasurer and retirement board must oversee proxy votes—shareholder votes tied to their investments. Votes must follow their investment policies and financial interests. Either entity may hire a proxy manager, but must oversee that manager and receive reports at least twice yearly. Subject to state and federal law, the treasurer must post vote dates, issues, and explanations online for inspection and download. These records must remain available for at least five years.
Wyoming state investments face financial-only rules
Beginning July 1, 2025, Wyoming’s state treasurer and retirement board must invest prudently, using only financial factors. Those factors must reasonably be expected to improve returns after accounting for risk over the investment’s time frame. Environmental, social, governance, political, and ideological interests cannot serve as independent reasons for investment decisions. Retirement program investment policies must include these rules and receive at least annual reviews. Providers’ contracts must acknowledge legal duties; providers must follow applicable investment policies, and outside managers must confirm compliance annually in writing. After a final finding that a provider used nonfinancial factors, the treasurer or board must respond in writing. They may seek policy changes, use shareholder votes to prompt changes, sell investments, or replace providers with competitive alternatives. The law preserves protections against altering pre-existing contracts.
Wyoming funds new investment oversight jobs
Each investment entity may use annual investment earnings equal to 0.01% of assets under management to carry out the law. This funding is automatically available each year. The law authorizes two full-time treasurer investment-division jobs, with up to $652,940 for July 1, 2025, through June 30, 2026. Enactment of 2025 Senate File 0001 or House Bill 0001 triggers dollar-for-dollar and job-for-job reductions for corresponding investment-division funding and positions. The law expects these jobs to enter the regular budget for the following two-year budget period.
Sponsors & Cosponsors
Sponsor
Bo Biteman
Republican • Senate
Cosponsors
Eric Barlow
Republican • Senate
Tim French
Republican • Senate
Bob Ide
Republican • Senate
Dan Laursen
Republican • Senate
Troy McKeown
Republican • Senate
Tara Nethercott
Republican • Senate
Tim Salazar
Republican • Senate
Senator Smith, D
Affiliation unavailable
Roll Call Votes
Senate vote • 3/6/2025
S Concur:Passed 24-2-5-0-0
Yes: 24 • No: 2
House vote • 3/4/2025
H 3rd Reading:Passed 60-0-2-0-0
Yes: 60 • No: 0
House vote • 3/4/2025
H 3rd Reading:Passed 60-0-2-0-0
Yes: 60 • No: 0
House vote • 3/4/2025
Amendment adopted 36-23-3-0-0
Yes: 36 • No: 23
House vote • 3/3/2025
Amendment failed 22-37-3-0-0
Yes: 22 • No: 37
House vote • 3/3/2025
Amendment failed 17-44-1-0-0
Yes: 17 • No: 44
House vote • 2/19/2025
H02 - Appropriations:Recommend Amend and Do Pass 6-1-0-0-0
Yes: 6 • No: 1
Senate vote • 2/10/2025
S 3rd Reading:Passed 29-1-1-0-0
Yes: 29 • No: 1
Senate vote • 2/3/2025
S02 - Appropriations:Recommend Do Pass 5-0-0-0-0
Yes: 5 • No: 0
Actions Timeline
Assigned Chapter Number 151
3/17/2025Governor Signed SEA No. 0096
3/17/2025GovernorH Speaker Signed SEA No. 0096
3/6/2025HouseS President Signed SEA No. 0096
3/6/2025SenateAssigned Number SEA No. 0096
3/6/2025S Concur:Passed 24-2-5-0-0
3/6/2025SenateS Received for Concurrence
3/4/2025SenateH 3rd Reading:Passed 60-0-2-0-0
3/4/2025HouseH 3rd Reading:Passed 60-0-2-0-0
3/4/2025HouseH 2nd Reading:Passed
3/3/2025HouseH 2nd Reading:Laid Back
2/28/2025HouseH COW:Passed
2/27/2025HouseH Placed on General File
2/19/2025HouseH02 - Appropriations:Recommend Amend and Do Pass 6-1-0-0-0
2/19/2025HouseH Introduced and Referred to H02 - Appropriations
2/12/2025HouseH Received for Introduction
2/10/2025HouseS 3rd Reading:Passed 29-1-1-0-0
2/10/2025SenateS 2nd Reading:Passed
2/7/2025SenateS COW:Passed
2/6/2025SenateS Placed on General File
2/3/2025SenateS02 - Appropriations:Recommend Do Pass 5-0-0-0-0
2/3/2025SenateS Introduced and Referred to S02 - Appropriations
1/29/2025SenateS Received for Introduction
1/28/2025SenateBill Number Assigned
1/27/2025
Bill Text
Enrolled
Introduced
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