2025
STATE OF WYOMING
25LSO-06261HB0290
HOUSE BILL NO. HB0290
Property tax reduction and replacement act.
Sponsored by: Representative(s) Harshman, Larsen, L and
Nicholas and Senator(s) Barlow
A BILL
for
1 AN ACT relating to taxation and revenue; establishing a
2 property tax exemption for single family residential
3 properties; providing a sales and use tax to provide
4 funding to local governments due to the decrease in revenue
5 from property tax exemptions; providing an exemption to the
6 additional sales and use tax as specified; providing for
7 the distribution of the sales and use tax; making
8 conforming amendments; providing rulemaking authority;
9 specifying applicability; authorizing reimbursement for
10 other tax reductions; requiring a report; and providing for
11 an effective date.
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14 2025STATE OF WYOMING25LSO-06262HB02901. W.S. 39-11-105(a) by creating a new
2 paragraph (xlvi), 39-15-104 by creating a new subsection
3 (j), 39-15-111(b)(intro) and by creating a new subsection
4 (r), 39-16-104 by creating a new subsection (g) and
5 39-16-111(b)(intro) are amended to read:
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9 (a) The following property is exempt from property
10 taxation:
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17 (b) Revenues earned under W.S. 39-15-104 during each
18 fiscal year shall be recognized as revenue during that
19 fiscal year for accounting purposes. Except as otherwise
20 provided in (p) of this
21 section, for all revenue collected by the department under
22 W.S. 39-15-104 the department shall:
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23 2025STATE OF WYOMING25LSO-06268HB0290
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12 (b) Revenues earned under this article during each
13 fiscal year shall be recognized as revenue during that
14 fiscal year for accounting purposes.
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16evenue collected by the department from
17 the taxes imposed by this article shall be transferred to
18 the state treasurer who shall, as specified by the
19 department:
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21. The department of revenue shall adopt
22 rules necessary to implement this act not later than July
23 1, 2025. 2025STATE OF WYOMING25LSO-062610HB02901
2The property tax exemption provided by
3 W.S. 39-11-105(a)(xlvi), as created by section 1 of this
4 act, shall first apply to the tax year beginning January 1,
5 2025.
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9 (a) If 2025 Senate File 48, 2025 Senate file 49 or
10 both are enacted into law, the department of revenue shall:
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12 (i) In consultation with the county treasurers,
13 determine, to the extent practicable, the reduction in
14 revenues to local governments as a result of the tax
15 exemption that is amended in 2025 Senate File 48 and the
16 revision to the valuation of personal property in 2025
17 Senate File 49. Any reduction in revenues determined under
18 this paragraph shall, to the extent funds are available, be
19 reimbursed to counties in the same manner as provided in
20 W.S. 39-15-111(r)(i), as created by section 1 of this act;
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22 (ii) Report to the joint revenue interim
23 committee any recommended statutory changes necessary to 2025STATE OF WYOMING25LSO-062611HB0290
1 include any revenue reductions as a result of 2025 Senate
2 File 48 or 2025 Senate File 49 in the reimbursement to
3 counties under W.S. 39-15-111(r)(i). The recommendations
4 shall include any necessary reporting requirements from
5 counties or taxpayers to enable the calculation of revenue
6 reductions. The report under this paragraph shall be
7 provided not later than August 1, 2025.
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9This act is effective immediately upon
10 completion of all acts necessary for a bill to become law
11 as provided by Article 4, Section 8 of the Wyoming
12 Constitution.
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14 (END)