Tax Exemption for New Coal Gasification and Liquefaction Equipment
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HB0061 Bill Summary Bill No.: HB0061 Drafter: MRW LSO No.: 06LSO-0186 Effective Date: 3/9/2006 Enrolled Act No.: HEA0005 Chapter No.: 14 Prime Sponsor: Joint Minerals, Business and Economic Development Interim Committee Catch Title: Coal value added facilities-tax exemptions. Subject: Sales and use tax exemption for value added facilities. Summary/Major Elements: This bill creates a sales and use tax exemption for equipment purchased to make new coal gasification or coal liquefaction facilities operational. Comments: Report Required The Wyoming business council and the department of revenue are required to jointly report to the Joint Minerals, Business and Economic Development Interim Committee and the Joint Revenue Interim Committee on or before December 1 of each year evaluating the cumulative effects of the exemption from initiation of the exemption.
Public statements
Last checked Aug 8, 9:02 PM
Why they voted this way
The lawmaker argues against the bill by citing Wyoming's unique tax structure compared to other states and emphasizing that non-renewable resources should be utilized before they are depleted.
H50
Why they voted this way
The lawmaker supports the bill because large coal facilities are expensive to build and already pay significant taxes, so a sales tax exemption is necessary to bring revenue into the state.
H18
Why they voted this way
The lawmaker supports the exemption because coal gasification plants are a huge asset, and this specific tax break is limited to construction rather than ongoing operations.
Why they voted this way
The lawmaker supports the bill to encourage production and recovery of coal within Wyoming, arguing that technology will pass the industry by if value is not extracted now.
Why they voted this way
The lawmaker supports the bill because it targets new facilities and construction, which helps bring industry to Wyoming so residents can find jobs locally instead of leaving.
H58
Why they voted this way
The lawmaker opposes the bill because providing a $62 million tax break to one specific industry is too large an amount that could be better used for broad-based tax breaks.
Why they voted this way
The lawmaker supports the bill by comparing it to wind generation incentives, arguing that without this tax exemption, competitors will take Wyoming's coal resources.
Wyoming roll calls
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Changes
1 stored
Withdrawn 3rd reading by JORGENSEN