The Wyoming State Legislature has referred a constitutional amendment to the 2022 ballot that would allow the legislature to provide by law for local governments (county, city, township, town, school district, or other political subdivision) to invest funds in stocks and equities.
Legislation establishing or increasing the percentage of funds a local government could invest would require a two-thirds supermajority vote of the state legislature. Currently, the state constitution allows the state legislature to authorize certain state funds to be invested in stocks.
To put a legislatively referred constitutional amendment before voters, a two-thirds (66.67 percent) supermajority vote is required in both the Wyoming State Senate and the Wyoming House of Representatives.
The measure was introduced as House Joint Resolution 9 on March 4, 2021. It was approved in the House on March 23, 2021, by a vote of 43-16. The Senate approved an amended version of the measure on April 1, 2021, in a vote of 25-5, which was sent to the House for concurrence. The House concurred with the Senate's amendments on April 1, 2021, in a vote of 46-13.
Between 2000 and 2020, the Wyoming State Legislature referred 20 constitutional amendments to the ballot, of which, 12 were approved (60%) and eight (40%) were defeated.
The legislature was set to adjourn the 2021 legislative session on April 7, 2021. The legislature can also refer measures to the 2022 ballot during the 2022 legislative session.
As of April 2, 2021, 15 statewide ballot measures had been certified for the 2022 ballot in 10 states.