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Wyoming could lose $5 billion from Freedom Caucus’ investments bill. It advanced again Tuesday. – WyoFile

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Wyoming could lose  billion from Freedom Caucus’ investments bill. It advanced again Tuesday. – WyoFile


Despite estimates of billions in investment losses, Freedom Caucus lawmakers again advanced a bill Tuesday that would punish contracted financiers who invest Wyoming’s money in funds with environmental, social and governance goals. 

The faction, newly in control of the House, is dead set against seeing public investments put into such funds, which it sees as antithetical to Wyoming’s fossil fuel industries. 

Blocking investments based on such goals has broad support in the Capitol, and is already reflected in state policies, according to state agency testimony in recent days. But the state’s money managers say a piece of the bill that brings steep financial penalties against financiers who violate the rules against ESG investing would make Wyoming’s combined $40 billion in investments toxic to major firms and thus slow returns.

On the House floor Tuesday, Rep. Bob Nicholas, the former head of the House Appropriations Committee and a veteran of a separate committee that oversees the state’s investments, said Wyoming’s financiers estimate losses approaching $5 billion in lost returns over the next three years. 

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State retirement system officials have estimated a loss of more than $1.2 billion in returns over the next three years from more than $8 billion in pension funds if managers drop Wyoming as a client. Separately, Wyoming’s Chief Investment Officer Patrick Fleming estimated lost revenue at around $3.5 billion from the more than $30 billion his office manages. 

The conflict is fueling fierce debate in the House. Lawmakers long-familiar with the state’s investment funds like Nicholas, R-Cheyenne, and Rep. Steve Harshman, R-Casper, spoke passionately against the bill, saying the House was ignoring people Wyoming had both hired, and in State Treasurer Curt Meier’s case elected, to manage the public’s money. 

“We’re debating whether or not the investment professionals that we hire are wrong or right,” Nicholas said. “They’ve got the biggest flashing red light up that you can see.” 

During Harshman’s tenure as House speaker, from 2016-2020, he leveraged returns from the state’s trust funds to protect public education through lean budget years. On Tuesday, he sought to defend those assets. The state’s investment pools, built up with mineral royalties, were a “tremendous gift from our forefathers and our energy companies,” that should not be risked, he said. “This is about Wyoming’s future.” 

But Harshman and Nicholas’ camp of traditional Republicans no longer command a voting majority on the House floor. The Freedom Caucus does, and its members pushed the bill through its first chamber vote, 34-26. The caucus accounts for 34 House members, according to public membership lists and campaign endorsements. 

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By a similar margin, 33-25, House members voted down an amendment brought by Nicholas that would have struck the penalty for financiers from the bill. That penalty is driving most of the consternation, and even Nicholas said he might back the bill were it taken out. 

But Freedom Caucus lawmakers voiced skepticism of the losses estimated by the state treasurer and managers of the retirement pool, and even some antipathy to those officials. 

“Since when do employees of the state tell us what they will and won’t do for us?” Freedom Caucus member Rep. Pepper Ottman, R-Riverton, said. 

“These financial teams of the state they’re making a lot of money,” she said, referencing the investment team’s compensation. “If they want to go somewhere else … other states are doing the same thing and it’s not going to be that tough.” 

Rep. Christopher Knapp, R-Gillette, chairs the House Corporations, Elections and Political Subdivisions Committee at the start of the 2025 Legislative session. (Mike Vanata/WyoFile)

The bill’s primary sponsor, Gillette Republican Rep. Christopher Knapp, offered a more measured defense of the bill. Knapp amended the legislation in response to oppositional testimony during a Friday committee hearing. 

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But Knapp stuck by the penalty. “All I’m trying to do is codify what those investment managers follow today,” Knapp said during Tuesday’s debate. “Yes that should be written into a contract,” with fund managers, he said. “Yes, [a contract] that will hold people accountable.”

After Nicholas’ amendment failed, lawmakers passed a second one, cosponsored by Knapp. That tweak exempted state employees, but not outside money managers, from the penalties. 

“I don’t understand why we are rushing this across an imaginary goal line.”

Rep. Martha Lawley, R-Worland

Monday, after adopting Knapp’s previous amendment, the House Minerals, Business and Economic Development Committee sent the bill to the House floor without taking further public testimony. The committee’s Freedom Caucus members overruled two of their Republican colleagues who sought to reopen testimony and gauge how state officials viewed the change. 

Treasurer Meier warned last week that “the better half of my staff are all going to walk out the door,” if the bill passes. He has not since publicly weighed in on the measure’s impacts in the wake of Knapp’s changes. 

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But Nicholas told his colleagues both Fleming, the chief investment officer, and officials managing the pension fund are sticking by their estimates of dire losses. 

Other lawmakers told their colleagues that the news of potential pension fund losses has spawned waves of concerned calls from retired state employees. 

The bill is part of the Freedom Caucus’ “five and dime” plan — a package of legislation the bloc has pledged to pass by next week to demonstrate its ability to lead the House. 

On the floor Tuesday, one of the Minerals Committee members, Rep. Martha Lawley of Worland, reiterated her frustrations with the committee’s choice not to work on the bill further before sending it to the House floor. 

“It’s not a small matter at all,” she said. “We owe [voters] to get it right. I don’t understand why we are rushing this across an imaginary goal line. In their view, we are not authorized to play politics with their retirement fund.” 

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Outdoor Fun Awaits At Local Parks With Izaak Walton League’s Hiking Series From April To September

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Outdoor Fun Awaits At Local Parks With Izaak Walton League’s Hiking Series From April To September


Hiking can be an activity that you enjoy doing on your own, but sometimes you need a little extra inspiration, and a group hike is exactly what you need. If you’re looking for a group to explore the outdoors with, the Charles E. Piersall chapter of the Izaak Walton League of America hiking group may be what you’re looking for.

The mission of the IWLA:

To engage the community in the conservation, restoration, and promotion of environmental protection, we focus on the sustainable use and enjoyment of our natural resources, including soil, air, woods, waters, and wildlife. This commitment is essential for a sustainable future, and activities like hiking help foster a connection with nature

The group is open to all ages, and even your pup can join in on the fun if they’re on a leash. There is a series of hikes planned beginning on April 1. Nope, this isn’t a prank; it is a real chance to meet other outdoor lovers and take in some of the area’s best hiking trails. The hikes are scheduled on the odd Wednesdays from April to September, weather permitting.

Join us to connect with others who appreciate the beauty of outdoor hiking and environmental advocacy hiking. Remember to bring drinking water, snacks, good walking shoes or boots, and a jacket. A walking stick or hiking poles can also be helpful.

Here are the hikes they have planned for this summer.

April 2026

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  • Wednesday, April 1, 6 pm, Morad Park to Paradise Valley:
  • Wednesday, April 15, 6 pm, Edness K. Wilkins State Park:
  • Wednesday, April 29, 6 pm, Tate Pumphouse, Golf Course loop:

May 2026

June 2026

July 2026

  • Wednesday, July 1, 6 pm, Muddy Mountain, North Face:
  • Wednesday, July 15, 6 pm, Muddy Mountain, Beaver Ponds:
  • Wednesday, July 29, 6 pm, Casper Mountain, Biathlon:

August 2026

September 2026

16 Types Of Hikes Explained

7 Trails To Hike In Central Wyoming

There’s no doubt about it, the entire state of Wyoming is covered in amazing hiking trails. If you’re visiting central Wyoming here are 7 trails that you should check out. I’ve organized them from easier to harder, ending with Laramie Peak.

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Wyoming Reporter Now Facing An Additional 10 Felony Charges

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Wyoming Reporter Now Facing An Additional 10 Felony Charges


The Platte County Attorney’s Office has nearly doubled the possible penalties for a Wyoming reporter accused of forging exhibits in an environmental case tied to her staunch opposition to a wind farm.

The 10 new counts against April Marie Morganroth, also known as the Wyoming-based reporter Marie Hamilton, allege that she convinced her landlords that she’d been approved for a home loan to buy their property, and grants to upgrade it.

Hamilton was already facing 10 felony charges in a March 9 Wheatland Circuit Court case, as she’s accused of submitting forged documents and lying under oath before the Wyoming Industrial Siting Council.

That’s an environmental permitting panel that granted a permit to a NextEra Resources wind farm, which Hamilton has long opposed. She’s also reported on NextEra’s efforts and the community controversies surrounding those.

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Then on Wednesday, Platte County Attorney Douglas Weaver filed 10 more felony charges: five alleging possession of forged writing, and five more alleging forgery.

The former is punishable by up to five years in prison and $5,000 in fines; the latter by up to 10 years in prison and up to $10,000 in fines.

Hamilton faces up to 65 years in prison if convicted of all charges in her March 9 case. The March 25 case would add up to 75 years more to that.

Both cases are ongoing.

Hamilton did not immediately respond to a voicemail request for comment left Thursday afternoon on her cellphone. She bonded out of jail earlier this month. The Platte County Detention Center said Thursday it does “not have her here.” 

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The Investigative Efforts Of Benjamin Peech

Converse County Sheriff’s Lt. Benjamin Peech investigated both cases at the request of Platte County authorities, court documents say.

When he was investigating evidence that Hamilton submitted forged documents and lied under oath for Industrial Siting Council proceedings, Peech also pursued Hamilton’s claim that she owned property on JJ Road, and that she’d bought it with a U.S. Department of Agriculture loan.

The property, however, is registered under Platte County’s mapping system to a couple surnamed Gillis, says a new affidavit Peech signed March 19, which was filed Wednesday.

Peech spoke with both husband and wife, and they said they had the home on the market to sell it, and Hamilton contacted them in about July of 2025.

Hamilton told the pair that she and her husband wished to buy the property and were pre-qualified for a USDA loan through Neighbor’s Bank, wrote Peech.

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But the property didn’t meet the standard of the loan, Hamilton reportedly continued. Still, she’d been approved for a USDA grant to work on the problems with the property and bring it up to the standards to qualify for the loan, she allegedly told the homeowners.

Papers

Hamilton provided the couple and their realtor with letters from USDA showing her loan pre-approval and grant approvals, the affidavit says.

During the lease period that followed, Hamilton was late “often” with rent and didn’t provide the couple with work logs until pressed, Peech wrote.

In early 2026, the lieutenant continued, the homeowners became concerned and asked Hamilton about her progress improving the property.

Hamilton reportedly sent the homeowners two invoices from contractors, showing she’d paid for work to be done. She said the wind had delayed that work, wrote Peech.

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The affidavit says the Gillis couple sent Peech the documents Hamilton had reportedly given them, along with supporting emails showing those had come from one of Hamilton’s email addresses.

The Loan approval documents showed the respective logos for USDA Rural Development and Neighbor’s Bank at the top of each page, the lieutenant wrote, adding that the documents assert that Hamilton and her husband had been approved for the loan.

“There was then a list of items that needed to be completed — 14 items — prior to Final Loan Approval,” related Peech in the affidavit.

A signature at the bottom reportedly read, “Sincerely, USDA Rural Development Neighbors Bank Joshua Harris Homebuying Specialist.”

Grant Document

The documents purporting Hamilton had received a grant also showed the USDA Rural Development logo at the top of each page, with the names of Hamilton and her husband, other boilerplate language and a description of a $35,000 home buyer’s grant.

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The project was about 65% complete at the time of review, the document adds, according to Peech’s narrative.

Peech describes more documents: a January notice, an invoice bearing the logo and name of “Cowgirl Demolition and Excavation, LLC,” and another invoice bearing the logo and name of “Pete’s Builders Roofing and Restoration.”

Real Estate Agent

Peech spoke with the Gillises’ real estate agent, Kay Pope, and she said she’d tried to verify the USDA grant and pre-approval by calling Susan Allman, who was listed in the documents as the Casper-based USDA agent. Pope left several messages without response, the affidavit says.

Pope spoke with Hamilton’s real estate agent, and he said he’d spoken to Allman, and he gave Pope a phone number.

Cowboy State Daily has identified Hamilton’s real estate agent and tried to contact him for further clarification.

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Pope called that number and left messages without response, wrote Peech.

Peech then called a USDA Rural Development office and spoke with a Janice Blare, deputy state director, he wrote.

Peech sent the three USDA letters to Blare and gave her “all of Hamilton’s names and aliases,” he added.

The lieutenant wrote that Blare later told him the USDA investigated the letters and determined no evidence existed to show the USDA had issued them.

No records existed either, of Hamilton “using all her alias permutations” or her husband within either the USDA loan program or grant program, wrote Peech.

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The USDA didn’t have an office at the address listed in two of the letters. The address pertains, rather, to a dirt lot. The USDA Rural Development office didn’t have a program titled “Rural Communities Home Buyer Program” as listed on two of the letters.

On Nov. 6, 2025, the date of the first letter purporting Hamilton had been approved for the grant program, all U.S. government offices including USDA were on furlough, noted Peech from his discussion with Blare.

A person named Susan Allman didn’t appear in USDA’s employee records, Blare reportedly added.

The Phone Call

Peech called the cellphone number one of the letters listed for Allman, “and this was disconnected,” he wrote.

The number Hamilton’s real estate agent had given was a voice over internet protocol number that Bandwidth LLC operates but is assigned to Google, added Peech.

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Meanwhile, Converse County Investigator Amber Peterson spoke with the construction and roofing companies listed in the documents.

Chad Derenzo of Pete’s Roofing confirmed the logo and name listed on the documents were his company’s own — but said his company hadn’t issued the bid listed in those documents, according to the affidavit.

“Their company had never contracted to do work for Hamilton or at the… JJ Road address,” the document says.

The invoice also bore an address in Torrington, Wyoming, and his company doesn’t have a Torrington office, said Derenzo, reportedly.

Jessica Loge of Cowgirl Demolition and Excavation gave similar statements, saying the documents bore her logo, but her company hadn’t issued the bid or contracted with Hamilton.

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Clair McFarland can be reached at clair@cowboystatedaily.com.



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Wyoming State Parks announces pause on potential visitor center project at Sinks Canyon State Park

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Wyoming State Parks announces pause on potential visitor center project at Sinks Canyon State Park


(Lander, WY) – The Wyoming Department of State Parks and Cultural Resources (SPCR) is announcing a pause on a possible visitor center project at Sinks Canyon State Park following public engagement efforts conducted in late 2025. On Dec. 1, 2025, Wyoming State Parks, in partnership with Sinks Canyon WILD,  hosted a public forum and gathered […]



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