Wyoming 2025 Regular Session

Wyoming House Bill HB0290 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	2025
2	2	STATE OF WYOMING
3	3	25LSO-06261HB0290
4	4	HOUSE BILL NO. HB0290
5	5	Property tax reduction and replacement act.
6	6	Sponsored by: Representative(s) Harshman, Larsen, L and
7	7	Nicholas and Senator(s) Barlow
8	8	A BILL
9	9	for
10	10	1 AN ACT relating to taxation and revenue; establishing a
11	11	2 property tax exemption for single family residential
12	12	3 properties; providing a sales and use tax to provide
13	13	4 funding to local governments due to the decrease in revenue
14	14	5 from property tax exemptions; providing an exemption to the
15	15	6 additional sales and use tax as specified; providing for
16	16	7 the distribution of the sales and use tax; making
17	17	8 conforming amendments; providing rulemaking authority;
18	18	9 specifying applicability; authorizing reimbursement for
19	19	10 other tax reductions; requiring a report; and providing for
20	20	11 an effective date.
21	21	12
22	22	13
23	23	14 2025STATE OF WYOMING25LSO-06262HB02901. W.S. 39-11-105(a) by creating a new
24	24	2 paragraph (xlvi), 39-15-104 by creating a new subsection
25	25	3 (j), 39-15-111(b)(intro) and by creating a new subsection
26	26	4 (r), 39-16-104 by creating a new subsection (g) and
27	27	5 39-16-111(b)(intro) are amended to read:
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31	31	9 (a) The following property is exempt from property
32	32	10 taxation:
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104	104	17 (b) Revenues earned under W.S. 39-15-104 during each
105	105	18 fiscal year shall be recognized as revenue during that
106	106	19 fiscal year for accounting purposes. Except as otherwise
107	107	20 provided in (p) of this
108	108	21 section, for all revenue collected by the department under
109	109	22 W.S. 39-15-104 the department shall:
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189	189	12 (b) Revenues earned under this article during each
190	190	13 fiscal year shall be recognized as revenue during that
191	191	14 fiscal year for accounting purposes.
192	192	15
193	193	16evenue collected by the department from
194	194	17 the taxes imposed by this article shall be transferred to
195	195	18 the state treasurer who shall, as specified by the
196	196	19 department:
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198	198	21. The department of revenue shall adopt
199	199	22 rules necessary to implement this act not later than July
200	200	23 1, 2025. 2025STATE OF WYOMING25LSO-062610HB02901
201	201	2The property tax exemption provided by
202	202	3 W.S. 39-11-105(a)(xlvi), as created by section 1 of this
203	203	4 act, shall first apply to the tax year beginning January 1,
204	204	5 2025.
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208	208	9 (a) If 2025 Senate File 48, 2025 Senate file 49 or
209	209	10 both are enacted into law, the department of revenue shall:
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211	211	12 (i) In consultation with the county treasurers,
212	212	13 determine, to the extent practicable, the reduction in
213	213	14 revenues to local governments as a result of the tax
214	214	15 exemption that is amended in 2025 Senate File 48 and the
215	215	16 revision to the valuation of personal property in 2025
216	216	17 Senate File 49. Any reduction in revenues determined under
217	217	18 this paragraph shall, to the extent funds are available, be
218	218	19 reimbursed to counties in the same manner as provided in
219	219	20 W.S. 39-15-111(r)(i), as created by section 1 of this act;
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221	221	22 (ii) Report to the joint revenue interim
222	222	23 committee any recommended statutory changes necessary to 2025STATE OF WYOMING25LSO-062611HB0290
223	223	1 include any revenue reductions as a result of 2025 Senate
224	224	2 File 48 or 2025 Senate File 49 in the reimbursement to
225	225	3 counties under W.S. 39-15-111(r)(i). The recommendations
226	226	4 shall include any necessary reporting requirements from
227	227	5 counties or taxpayers to enable the calculation of revenue
228	228	6 reductions. The report under this paragraph shall be
229	229	7 provided not later than August 1, 2025.
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231	231	9This act is effective immediately upon
232	232	10 completion of all acts necessary for a bill to become law
233	233	11 as provided by Article 4, Section 8 of the Wyoming
234	234	12 Constitution.
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236	236	14 (END)