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HB0291

Wyoming Small Business Investment Credit Program

Last scannedOct 18, 2026, 2:19 AM

In one sentence

This bill proposed a program allowing insurance companies to receive tax credits for investing in small Wyoming businesses through certified investment companies.

What it does

  • Creates a new law called the Wyoming Small Business Investment Credit Program.
  • Sets rules for companies to become certified as a Wyoming small business investment company.
  • Requires certified companies to invest in qualified businesses that are headquartered in Wyoming.
  • Allows insurance companies to get a credit against their state premium taxes for investing in these certified companies.
  • Requires the state business council to review applications and issue certifications or refusals within 45 days.
  • Sets a deadline for the council to start accepting applications by September 1, 2009.

Who it affects

  • Insurance companies that pay state premium taxes.
  • Small businesses in Wyoming with 100 or fewer employees.
  • Investment companies seeking certification to manage funds for this program.
  • The Wyoming business council, which handles applications and certifications.

Limits and unknowns

  • The bill did not pass in the 2009 session, so these rules were not enacted into law.
  • The provided text is a working draft and may contain changes that were not finalized in the final version.
  • Specific details about how the tax credit amount is calculated are not fully detailed in the provided excerpt.

Plain language

Terms to know

Participating investor
An insurer with a tax liability under state law (W.S. 26-4-103) that invests in a certified small business investment company.
Qualified business
A business that is independently owned, headquartered in Wyoming, has 100 or fewer employees, and is not primarily engaged in banking, insurance, gambling, or professional services like law or medicine.
Designated capital
Money invested by a participating investor that fully funds the purchase price of a qualified debt instrument issued by the investment company.
Premium tax credit
A reduction in the state premium tax that an insurance company owes, based on their investment in the program.

Official record

Sources

Source checked

Public statements

Why lawmakers voted

Last checked Aug 8, 2:05 AM

Voted No

Why they voted this way

The lawmaker opposes the bill because it uses tax revenue for private investment rather than operating government, arguing that if a tax is not needed it should be eliminated and criticizing the lack of transparency in how funds are spent.

Public statementFloor statement at 1:35:32 Watch the statement
Voted No

Why they voted this way

The lawmaker opposes the bill due to concerns about losing tax revenue needed for future budgets given declining natural gas prices and questioning whether businesses need special incentives if they are viable.

Public statementFloor statement at 1:45:12 Watch the statement

Cale Case

R · S25

Voted No

Why they voted this way

The lawmaker opposes the bill because it violates constitutional prohibitions against state donations to private corporations and argues that government should not compete with private credit markets.

Public statementFloor statement at 1:52:00 Watch the statement
Voted Yes

Why they voted this way

The lawmaker opposes the bill because it borrows against future revenues instead of paying for programs with current funds, arguing that a good program should be paid for immediately.

Public statementFloor statement at 1:55:17 Watch the statement
Voted Yes

Why they voted this way

The lawmaker supports the bill to diversify the economy and reduce dependence on the declining mineral industry, arguing that future economic growth will offset revenue losses.

Public statementFloor statement at 1:58:25 Watch the statement

If a lawmaker is not listed, we couldn't find a published reason.

Wyoming roll calls

Recorded votes

5 roll calls

S Failed 3rd 15-14-1; Failed Reconsideration 11-18-1-0-02009-02-25 · Senate11 yes 18 no
S Failed 3rd Reading 15-14-1-0-02009-02-25 · Senate15 yes 14 no
S09 Recommended Amend and Do Pass 5-0-0-0-02009-02-17 · Senate5 yes 0 no
H Passed 3rd Reading 56-4-0-0-02009-02-09 · House56 yes 4 no
H03 Recommended Do Pass 9-0-0-0-02009-02-02 · House9 yes 0 no

Official activity

Bill history

  1. S Failed 3rd 15-14-1; Failed ReconsiderationSenate
  2. S Failed 3rd ReadingSenate
  3. S Passed 2nd ReadingSenate
  4. Amendment AdoptedSenate
  5. Amendment AdoptedSenate
  6. Amendment AdoptedSenate
  7. S Passed CoWSenate
  8. Amendment AdoptedSenate
  9. Amendment AdoptedSenate
  10. S Amendments AdoptedSenate
  11. Amendment AdoptedSenate
  12. S Placed on General FileSenate
  13. S09 Recommended Amend and Do PassSenate
  14. S Introduced and Referred to S09Senate
  15. S Received for IntroductionSenate
  16. H Passed 3rd ReadingHouse
  17. H Passed 2nd ReadingHouse
  18. Amendment AdoptedHouse
  19. H Passed CoWHouse
  20. Amendment AdoptedHouse

Changes

Amendments

8 stored

HB0291H2001

Adopted 2nd reading by PEDERSEN

HB0291HW001

Adopted Committee of the Whole by PEDERSEN

HB0291S2001

Adopted 2nd reading by SCHIFFER

HB0291S2002

Adopted 2nd reading by DOCKSTADER

HB0291S2003

Adopted 2nd reading by SCOTT

HB0291SW001

Adopted Committee of the Whole by ROSS

HB0291SW002

Adopted Committee of the Whole by COOPER

HB0291SS001

Adopted Standing Committee by LARSON