Catch Title: SF0065 Wyoming Business Council Repeal

Sponsor: Joint Appropriations Committee

Effective Date: July 1, 2026 (Sections 1-3 and 9 effective immediately)

Bill URL: https://www.wyoleg.gov/Legislation/2026/SF0065

Overview:

SF0065 mandates the complete dismantling of the Wyoming Business Council (WBC), terminating its existence as a state agency by July 1, 2026 . Rather than a standard reorganization, the bill repeals the Wyoming Economic Development Act and terminates the majority of the Council’s existing functions . While a small number of core programs (Broadband, Energy, Tourism) are transferred to other state entities, the remaining assets, liabilities, and outstanding obligations are shifted to the State Budget Department for a final wind-up phase .

Key Provisions:

• Immediate Cessation of Activity: Upon the bill’s effective date, the WBC is prohibited from accepting or processing new applications for grants, loans, bonds, or other financial aid .
• Programmatic Transfers:
  • Broadband Development: Transferred to the State Loan and Investment Board (SLIB) .
  • Energy Conservation & Minerals to Value Added: Transferred to the Wyoming Energy Authority .
  • Tourism: Transferred to the Office of Tourism .
• Asset & Liability Transfer: On July 1, 2026, the State Budget Department assumes all duties and ownership interests regarding existing loans, grants, and investments .
• Mandatory Forensic Audit: The Department of Audit is required to conduct a comprehensive forensic audit of the WBC to verify legal compliance and accounting conformity .
• Disposition of Private/Local Funds: The WBC must contact all private and local governmental donors to receive directives on the return or transfer of unexpended donations .
• Position Termination: All current full-time, part-time, and contract positions at the WBC are terminated as of July 1, 2026 .
• Transition Funding: Authorizes two (2) new full-time positions in the State Budget Department and appropriates $2,000,000 for the implementation of this act .

Implications:

• Agency Dismantling vs. Reorganization: Unlike typical state transfers, this bill represents a dismantling of the state’s primary economic development infrastructure, with most functions slated for termination rather than relocation .
• Administrative and Fiscal Uncertainty:
  • The creation of only two (2) new positions to manage the entire remaining WBC portfolio represents a significant decrease in oversight capacity compared to the existing staff .
  • There was no prior consultation with the State Budget Department before the bill was drafted; consequently, the full administrative and fiscal impact on that department remains [Ambiguous].
• Perception of Forensic Audit: Although the bill establishes a mandatory forensic audit, there is no prior indication of misconduct or misuse of funds. The inclusion of a forensic audit may create a perception of financial impropriety where none has been established .
• Research Deficit on Private Funds: The requirements for handling private and local donations were drafted without research into the volume of donors, the total amount of funds, or existing legal restrictions on fund usage, potentially leading to significant logistical and legal hurdles during the wind-up process .
• Loss of Economic Development Continuity: The immediate freeze on new applications and the repeal of the Economic Development Act could result in a significant gap in the state’s ability to respond to market opportunities or support local business growth during the transition .