The main purpose of this legislation is to update and improve the way public land in Wyoming can be sold or used for educational purposes. Specifically, it aims to modernize the language and provisions from an older law established in 1890, ensuring that the financial benefits from these lands are more clearly defined and beneficial for education. Key provisions of this legislation include changes to the terminology used in the original 1890 law. The bill replaces the term "interest of" with "earnings on" in multiple sections.