The Office of State Lands and Investments (OSLI) joined attendees during the Wyoming Farm Bureau Federation Legislative Meeting, where agency leaders walked Farm Bureau members through trust land management, grazing lease structure, field services support and loan programs.

Director Stacia Berry said she wanted attendees to leave with a clearer understanding of what the office does and how it intersects with agriculture.

“We can spend a little bit of time talking about what state lands are, what they do,” Berry said, adding her team would also cover grazing administration, field services and available funding opportunities.

Berry explained OSLI serves as the administrative arm of the State Board of Land Commissioners and the State Loan and Investment Board. The boards are comprised of the governor, secretary of state, auditor, treasurer and superintendent of public instruction.

“We have a really great mission, and this is to effectively manage natural resources and funds for current and future generations,” Berry said.

She emphasized state trust lands differ from federal public lands in both purpose and management framework.

“You see a lot of talk about public lands versus state lands, and most times people talk about them interchangeably. And they’re different,” Berry said. “State trust lands were given to the state… with that specific purpose of generating revenue for the common school account.”

OSLI manages approximately 3.4 million surface acres and 3.9 million mineral acres. About 86 percent of the surface acreage is classified as common school trust land, with the remaining acreage supporting other beneficiaries such as the University of Wyoming and the Wyoming Veterans Home.

Grazing remains the most widespread surface use. Berry noted just over 4,000 grazing leases cover roughly 99 percent of the trust surface estate.

“You are our partners out in the field,” Berry told the farmers and ranchers in attendance. “Without our partners that are being stewards of the land, these lands wouldn’t look like they’re supposed to.”

Grazing lease qualifications and rental rates

Assistant Director Cody Booth said the Trust Land Management Division administers leases, easements and permits across both the surface and subsurface estates.

He also reminded members that comments on proposed rule changes affecting special use leases are due by March 20, 2026.

Grazing and Agricultural Leasing Program Manager Tori Thacker said nearly every trust parcel carries a grazing lease.

“Ninety-nine percent of our state trust lands have a grazing lease on them,” Thacker said.

To qualify, lessees must be at least 18 years old, meet citizenship requirements, comply with state law and demonstrate agricultural use of the land.

“We’re just wanting to make sure our lessees are utilizing their grazing lease for grazing and agricultural purposes,” Thacker said.

Annual rental rates for native rangeland are calculated using a formula adopted by the Board of Land Commissioners. Thacker said the formula uses a five-year average of Wyoming private lease rates and a five-year weighted average parity ratio for beef cattle. A 20 percent reduction is then applied to reflect lessee improvements and stewardship.

“We take the average of the five previous years’ private land lease rate… multiply that by the five-year weighted average parity ratio for beef cattle, and then we subtract 20 percent,” Thacker said.

For 2026, the grazing rental rate is $6.44 per AUM. Hay production is converted to AUMs and charged at that rate. Dryland crop leases are based on productivity, while irrigated cultivated cropland leases are charged at four percent of appraised value, also with the 20 percent reduction.

In fiscal year 2025, grazing leases generated more than $6 million for trust beneficiaries.

“In the fiscal year of 2025, we generated $6,055,467.40,” Thacker said.

Renewals and conflicting applications

Grazing leases renew on a staggered schedule, and invoices are mailed roughly 60 days before payment is due. Thacker noted Wyoming statute allows OSLI to accept the postmark date as the filing date for payments and renewal applications.

“That has been a super big help for both us and our lessees,” she said.

Approximately 10 percent of grazing leases renew annually. Renewal materials are mailed about 120 days before expiration. If an application is not received by the 60-day mark, OSLI must send a second notice and allow additional time to cure deficiencies.

Thacker also explained the conflicting application process, which allows another qualified applicant to submit a bid during a limited renewal window. Conflicting bids are capped at 120 percent of market value. If a bid is submitted, the current lessee is notified and may be eligible to match the higher offer if qualified and in compliance.

Subleases, improvements and wildfire policy

Land Management Specialist Cameron Ross reminded attendees that subleases require approval before they are implemented.

“When you’re applying for the sublease, the lessee must apply and also receive approval before those subleases are considered to be put in place,” Ross said.

In 2025, subleasing generated more than $250,000 across 410 subleases.

Patrick Bonine, who works on grazing improvements, said projects exceeding $4,000 require director approval. Eligible improvement categories include fencing, water developments, livestock handling facilities and range enhancements.

“Anything that is over $4,000 needs to be approved by our director,” Bonine said.

In the event of wildfire damage, lessees must submit a written request outlining impacts. OSLI conducts an inspection and works with the lessee to develop a stewardship plan. Affected parcels are typically rested, with reduced rental rates during recovery.

Surface impact payments and coordination

Surface Leasing Supervisor Erica Jensen highlighted vacant lease opportunities and encouraged farmers and rancehrs ranchersto monitor the agency’s website.

“Currently, we have 18 vacant leases,” Jensen said.

She also emphasized the importance of surface impact payments when additional uses occur on land already under a grazing lease.

“Surface impact payments are very important to our grazing lessees,” Jensen said. “Please call us if you have any questions about how to negotiate these surface impact payments.”

When a new easement, temporary use permit or special use lease is proposed on a parcel already under a grazing lease, the lessee must be notified. Jensen said consent forms indicate an activity will not substantially impact the operation, while comment forms allow lessees to outline concerns that must be addressed.

Field services and recreation rules

Field Services Assistant Director Ben Bump said the Field Services Division provides on-the-ground support across the state’s trust lands.

“We’re really here to be the boots on the ground and help folks out,” Bump said.

Five field inspectors cover the statewide portfolio, conducting compliance inspections and responding to issues such as recreation conflicts and reclamation concerns tied to other surface uses.

Bump said public recreation on state trust lands is governed by rules adopted by the Board of Land Commissioners in 1988. Recreation is a privilege, not a right, and is limited to legally accessible lands. Off-road motorized travel, camping and open fires are prohibited, as are activities that damage land or improvements.

When conflicts arise, OSLI works with lessees, local law enforcement and the Wyoming Game and Fish Department to mitigate issues. If necessary, restrictions can be considered through a public notice process and board approval.

Loan programs for producers

Assistant Director of Administrative Services Jennifer Doering outlined financing programs administered through the State Loan and Investment Board.

“We handle all the money,” Evans said. “What I want to talk about today is two loan programs.”

The farm loan program, established in 1921, provides long-term real estate loans to Wyoming agricultural operators. A beginning producer component is available for producers who meet acreage ownership thresholds.

“This program is not for investors,” Doering said.

Eligible uses include purchasing land, livestock and equipment to increase earning capacity. Farm loans are capped at 60 percent of appraised value, while beginning producer loans may reach 70 percent. Interest rates are tied to U.S. Treasury yields.

Doering also highlighted a small business emergency bridge loan program created in 2025 to assist eligible small businesses affected by governor-declared natural disasters. The program allows loans up to $750,000 for up to three years and is administered through approved financial institutions.

As the presentation concluded, Berry encouraged attendees to reach out with questions.

“When folks start to learn about what happens at state lands, it’s so diverse that they have very specific questions,” Berry said.