HB0291

Failed

Financial institution discrimination.

Authorize the state to maintain and publish a list of financial institutions that discriminate against energy companies and restrict state banking contracts with them.

Full legal title

AN ACT relating to banks, banking and finance; authorizing the secretary of state to prepare and maintain a list of financial institutions engaged in discrimination against energy companies; authorizing the secretary of state to publish the list upon vote of the board of deposits; specifying requirements for the list; requiring notice to a financial institution before being included on the list; providing opportunity for a financial institution to be removed from the list; requiring the state treasurer and state auditor to refuse to enter into a banking contract with a financial institution on the list once published; providing definitions; amending a definition related to firearms discrimination; and providing for an effective date.

Business Energy

Sponsor:

Co-sponsors: Representative(s) Allemand, Angelos, Campbell, K, Haroldson, Pendergraft, Smith, S, Webber, Senator(s) Ide, Laursen, D, Smith, D

View on wyoleg.gov Introduced Text (PDF)Digest (PDF)Fiscal Note (PDF)

What does this bill do?

Creates a restricted financial institution list for banks that discriminate against energy companies and prohibits state banking contracts with listed institutions.

Defines "boycott of energy companies" as a financial institution discriminating against companies engaged in fossil fuel exploration, production, use, transportation, sale or manufacturing, or companies doing business with such energy companies, without a reasonable business or financial purpose. (W.S. 13-10-401(a)(ii))
Authorizes the secretary of state to prepare, maintain, and publicly post a restricted financial institution list on the state website following approval by the board of deposits. (W.S. 13-10-402(a), W.S. 13-10-402(b))
Requires the list to include a citation to the article and brief statement clarifying that inclusion does not indicate unsafe operating conditions or risk to consumer deposits. (W.S. 13-10-402(c))
Mandates the secretary of state to update the restricted financial institution list annually or more frequently and resubmit for board approval. (W.S. 13-10-402(d))
Requires the secretary of state to provide a financial institution 45 days' written notice before adding it to the list, giving the institution 30 days to demonstrate it is not engaged in energy company boycotts. (W.S. 13-10-403(a))
Allows removal of a financial institution from the restricted list if it demonstrates it has ceased all activity that boycotts energy companies. (W.S. 13-10-403(b))
Permits the secretary of state to consider the financial institution's attestation, publicly available statements by officials, and government publications when determining boycott status, but prohibits relying solely on energy company complaints or media reports. (W.S. 13-10-404(a), W.S. 13-10-404(b))
Prohibits the state treasurer and state auditor from entering into new or renewing existing banking contracts with restricted financial institutions. (W.S. 13-10-405(a))
Requires all banking contracts to include an agreement that the financial institution will not engage in energy company boycotts during the contract term.

Actions (5)

3/3/2025(House)

H:Died in Committee Returned Bill Pursuant to HR 5-4

2/7/2025(House)

H No report prior to CoW Cutoff

2/3/2025(House)

H Introduced and Referred to H02 - Appropriations

1/28/2025(House)

H Received for Introduction

1/27/2025(LSO)

Bill Number Assigned