Committee hears proposal to let local governments invest in equities; WyoStar 3 and safeguards discussed

The House Appropriations Committee heard testimony on Senate File 145, a bill that would authorize political subdivisions to invest public funds in equities and require the State Loan and Investment Board (SLIB) to adopt investment policy statements and sideboards for those investments.

Why it matters: Backers said allowing local governments to allocate a portion of long‑term reserves to equities could increase returns for capital projects such as landfill closure and wastewater infrastructure. Treasury staff and the State Treasurer’s office emphasized safeguards — minimum holding periods, expense limits and SLIB oversight — intended to protect smaller local entities from excessive risk and fees.

The committee’s Majority Floor Leader introduced the bill, explaining it implements the 2022 constitutional amendment that allowed local governments to invest in equities. The sponsor said the measure authorizes political subdivisions to invest in equities while requiring compliance with investment policy statements adopted by the State Loan and Investment Board and makes clear…