House Appropriations committee backs bill allowing local governments to invest in equities

The Wyoming House Approations Committee voted to advance Senate File 145 on a 7-0 roll call Thursday, adopting an amendment that changes an advisory committee requirement from "may" to "shall" and sending the bill to the floor with amendments.

Proponents told the committee the measure would let counties, cities and certain local districts invest some reserve funds in equities under parameters set by the State Loan and Investment Board (SLIB) and managed by professionals. "The governor does support the ability of local governments to invest in equities," Betsy Anderson, deputy chief of staff and general counsel for Governor Gordon, told the committee, adding that SLIB already sets conditions for state funds and uses an investment consultant.

Supporters said local governments need tools to protect reserves from inflation and to smooth volatile revenues tied to mineral production. "We think that this is a great way for us to utilize revenues that we may be in possession of currently," Converse County Commissioner Robert Short said, describing how mineral producers' prepayments created long-term obligations the county treats like a 13-year revenue stream. Campbell County Commissioner Jim Ford said local governments face sharp year‑to‑year swings in assessed valuation tied to minerals and need options to "attenuate that volatility" so services and employees remain stable.

Why it matters: The bill would change what local governments are allowed to do with some reserve funds, potentially affecting how counties and municipalities manage…