Wyoming Senate Bill SF0081

Wyoming 2023 Regular Session

• Introduced: 1/11/23
• Failed: 2/7/23

Caption

Monthly ad valorem tax revisions.

Impact

The revisions set forth by SF0081 are expected to streamline the ad valorem tax process, allowing for more predictable revenue flows to counties from mineral production taxes. Under the proposed frameworks, mineral and mine producers must report production monthly and make payments accordingly. This regularization aims to mitigate any discrepancies or delays that have historically impacted tax collection timelines, thereby enhancing local governmental financial stability.

Summary

Senate File 0081 (SF0081) introduces significant revisions to the monthly ad valorem tax process for mineral production in Wyoming. This bill aims to clarify the calculation of payment amounts based on mineral production and specifies the distribution process for the monthly ad valorem payments collected by county treasurers. The bill establishes deadlines for producers to report their mineral production and pay the corresponding taxes, ensuring transparency and efficiency in tax administration.

Contention

While the bill appears to have the support of those within the mining sector and local governments who benefit from timely tax revenue, some stakeholders may raise concerns about the administrative burden it places on small mining operations. The requirement for monthly reporting and payments may be viewed as onerous, potentially disadvantaging smaller producers who may lack the resources to comply with more frequent tax obligations. Such tensions underscore an ongoing debate about balancing regulatory oversight with support for local businesses within the state's mineral resource sector.