WY
Wyoming House Bill HB0291

Wyoming 2025 Regular Session

Wyoming House Bill HB0291 Compare Versions

Only one version of the bill is available at this time.
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11 2025
22 STATE OF WYOMING
33 25LSO-03241HB0291
44 HOUSE BILL NO. HB0291
55 Financial institution discrimination.
66 Sponsored by: Representative(s) Bear, Allemand, Angelos,
77 Campbell, K, Haroldson, Pendergraft, Smith,
88 S and Webber and Senator(s) Ide, Laursen, D
99 and Smith, D
1010 A BILL
1111 for
1212 1 AN ACT relating to banks, banking and finance; authorizing
1313 2 the secretary of state to prepare and maintain a list of
1414 3 financial institutions engaged in discrimination against
1515 4 energy companies; authorizing the secretary of state to
1616 5 publish the list upon vote of the board of deposits;
1717 6 specifying requirements for the list; requiring notice to a
1818 7 financial institution before being included on the list;
1919 8 providing opportunity for a financial institution to be
2020 9 removed from the list; requiring the state treasurer and
2121 10 state auditor to refuse to enter into a banking contract
2222 11 with a financial institution on the list once published;
2323 12 providing definitions; amending a definition related to
2424 13 firearms discrimination; and providing for an effective
2525 14 date. 2025STATE OF WYOMING25LSO-03242HB0291
2626 1
2727 2
2828 3
2929 4. W.S. 13-10-401 through 13-10-405 are
3030 5 created to read:
3131 6
3232 7 ARTICLE 4
3333 8 RESTRICTED FINANCIAL INSTITUTION LIST
3434 9
3535 10
3636 11
3737 12 (a) As used in this article:
3838 13
3939 14 (i) "Banking contract" means a contract entered
4040 15 into by the state treasurer or the state auditor and a
4141 16 financial institution to provide banking services to the
4242 17 state or any political subdivision thereof;
4343 18
4444 19 (ii) "Boycott of energy companies" means a
4545 20 financial institution that, without a reasonable business
4646 21 or financial purpose, discriminates against an energy
4747 22 company because the company:
4848 23 2025STATE OF WYOMING25LSO-03243HB02911 (A) Engages in the exploration, production,
4949 2 use, transportation, sale or manufacturing of fossil
5050 3 fuel-based energy;
5151 4
5252 5 (B) Engages in the exploration, production,
5353 6 use, transportation, sale or manufacturing of fossil
5454 7 fuel-based energy and does not commit or pledge to meet
5555 8 environmental standards beyond applicable federal and state
5656 9 law; or
5757 10
5858 11 (C) Does business with a company that
5959 12 engages in the exploration, production, use,
6060 13 transportation, sale or manufacturing of fossil fuel-based
6161 14 energy.
6262 15
6363 16 (iii) "Company" means any sole proprietorship,
6464 17 organization, association, corporation, partnership, joint
6565 18 venture, limited partnership, limited liability
6666 19 partnership, limited liability company or other entity or
6767 20 business association, including all wholly owned
6868 21 subsidiaries, majority owned subsidiaries, parent companies
6969 22 or affiliates of those entities or business associations,
7070 23 which exist for the purpose of making profit; 2025STATE OF WYOMING25LSO-03244HB02911
7171 2 (iv) "Discriminate" means as defined in W.S.
7272 3 13-10-301(a)(ii);
7373 4
7474 5 (v) "Financial institution" means as defined in
7575 6 W.S. 13-10-301(a)(iii);
7676 7
7777 8 (vi) "Reasonable business purpose" includes any
7878 9 purpose directly related to:
7979 10
8080 11 (A) Promoting the financial success or
8181 12 stability of a financial institution;
8282 13
8383 14 (B) Mitigating risk to a financial
8484 15 institution;
8585 16
8686 17 (C) Complying with legal or regulatory
8787 18 requirements; or
8888 19
8989 20 (D) Limiting liability of a financial
9090 21 institution.
9191 22 2025STATE OF WYOMING25LSO-03245HB02911 (vii) "Restricted financial institution" means a
9292 2 financial institution included in the most recently updated
9393 3 and posted restricted financial institution list;
9494 4
9595 5 (viii) "Restricted financial institution list"
9696 6 means the list of financial institutions prepared,
9797 7 maintained and published pursuant to this article.
9898 8
9999 9
100100 10
101101 11 (a) The secretary of state shall prepare and maintain
102102 12 a list of financial institutions that are engaged in a
103103 13 boycott of energy companies. The list prepared under this
104104 14 subsection shall be known as the "restricted financial
105105 15 institution list."
106106 16
107107 17 (b) The secretary of state shall submit a copy of the
108108 18 restricted financial institution list to the board of
109109 19 deposits, the president of the senate and the speaker of
110110 20 the house of representatives. Upon an affirmative vote by
111111 21 the board of deposits the secretary of state shall publicly
112112 22 post the restricted financial institution list on the
113113 23 secretary of state's official website. 2025STATE OF WYOMING25LSO-03246HB02911
114114 2 (c) A citation to this article and a brief summary of
115115 3 the purpose of the restricted financial institution list
116116 4 shall appear at the top of the restricted financial
117117 5 institution list, including a statement that inclusion on
118118 6 the restricted financial institution list is neither an
119119 7 indication of unsafe or unsound operating conditions of any
120120 8 financial institution nor an indication of any risk to
121121 9 consumer deposits.
122122 10
123123 11 (d) The secretary of state shall update the
124124 12 restricted financial institution list annually, or more
125125 13 often as the secretary considers necessary, and submit the
126126 14 updated restricted financial institution list for approval
127127 15 according to subsection (b) of this section.
128128 16
129129 17
130130 18
131131 19 (a) Not later than forty-five (45) days before
132132 20 including a financial institution on the restricted
133133 21 financial institution list, the secretary of state shall
134134 22 send a written notice to the institution containing the
135135 23 following information: 2025STATE OF WYOMING25LSO-03247HB02911
136136 2 (i) That the secretary of state has determined
137137 3 that the financial institution is a restricted financial
138138 4 institution;
139139 5
140140 6 (ii) That the financial institution will be
141141 7 placed on the restricted financial institution list in
142142 8 forty-five (45) days unless, within thirty (30) days after
143143 9 receipt of the written notice, the restricted financial
144144 10 institution demonstrates that it is not engaged in a
145145 11 boycott of energy companies;
146146 12
147147 13 (iii) That the restricted financial institution
148148 14 list is published on the secretary of state's official
149149 15 website;
150150 16
151151 17 (iv) That the institution's placement on the
152152 18 restricted financial institution list may render the
153153 19 institution ineligible to enter into, or renew, banking
154154 20 contracts with the state of Wyoming.
155155 21
156156 22 (b) After a restricted financial institution's
157157 23 inclusion on the restricted financial institution list, the 2025STATE OF WYOMING25LSO-03248HB0291
158158 1 secretary of state shall remove the institution from the
159159 2 restricted financial institution list if the institution
160160 3 demonstrates that it has ceased all activity that boycotts
161161 4 energy companies.
162162 5
163163 6
164164 7
165165 8 (a) In determining whether to include a financial
166166 9 institution on the restricted financial institution list,
167167 10 the secretary of state shall consider and may rely upon any
168168 11 of the following information:
169169 12
170170 13 (i) A financial institution's attestation that
171171 14 it is not engaged in a boycott of energy companies;
172172 15
173173 16 (ii) Publicly available statements or
174174 17 information made by a financial institution, including
175175 18 statements by a member of a financial institution's
176176 19 governing body, an executive director of a financial
177177 20 institution or any other officer or employee of a financial
178178 21 institution with the authority to issue policy statements
179179 22 on behalf of a financial institution;
180180 23 2025STATE OF WYOMING25LSO-03249HB02911 (iii) Information published by a state or
181181 2 federal government entity.
182182 3
183183 4 (b) In determining whether to include a financial
184184 5 institution on the restricted financial institution list,
185185 6 the secretary of state shall not rely solely on any of the
186186 7 following information:
187187 8
188188 9 (i) Statements or complaints by an energy
189189 10 company;
190190 11
191191 12 (ii) Media reports of a financial institution's
192192 13 boycott of energy companies.
193193 14
194194 15 (c) A financial institution shall not be compelled to
195195 16 produce or disclose any data or information deemed
196196 17 confidential, privileged or otherwise protected from
197197 18 disclosure by state or federal law.
198198 19
199199 20
200200 21
201201 22 (a) The state treasurer and the state auditor shall
202202 23 refuse to enter into a new banking contract or renew an 2025STATE OF WYOMING25LSO-032410HB0291
203203 1 existing banking contract with a restricted financial
204204 2 institution.
205205 3
206206 4 (b) The state treasurer and the state auditor shall
207207 5 require, as a term of any banking contract, an agreement by
208208 6 the financial institution not to engage in a boycott of
209209 7 energy companies for the duration of the contract.
210210 8
211211 9W.S. 13-10-301(a)(ii) by creating a new
212212 10 subparagraph (D) and by renumbering (D) as (E) is amended
213213 11 to read:
214214 12
215215 13
216216 14
217217 15 (a) As used in this article:
218218 16
219219 17 (ii) "Discriminate" means to:
220220 18
221221 19
222222 20
223223 21
224224 22 2025STATE OF WYOMING25LSO-032411HB02911 (E) Otherwise unlawfully discriminate
225225 2 against a person.
226226 3
227227 4. This act is effective July 1, 2025.
228228 5
229229 6 (END)