SF0089

Official summary

Bill Summary - 24LSO-0538 Bill No.: SF0089 Effective: Multiple Dates LSO No.: 24LSO-0538 Enrolled Act No.: SEA No. 0061 Chapter No.: 101 Prime Sponsor: Cooper Catch Title: Veterans ad valorem exemption-amount. Has Report: No Subject: Increasing the exemption amount for the veterans' ad valorem exemption. Summary/Major Elements: Under current law, certain veterans who have been Wyoming residents for at least three (3) years are entitled to an ad valorem tax exemption. This exemption is limited to an annual exemption of three thousand dollars ($3,000.00) of assessed value. Beginning with the 2025 tax year, this act increases the maximum amount of the annual exemption to six thousand dollars ($6,000.00) of assessed value. The act appropriates funds from the general fund to the State Treasurer to provide reimbursements to county treasurers for the increase in the exemption as provided in this act. The act requires the Department of Revenue to promulgate rules to implement this act. Comments: This act has a split effective date. The act is effective January 1, 2025; the provisions authorizing rulemaking are effective immediately. The above summary is not an official publication of the Wyoming Legislature and is not an official statement of legislative intent. While the Legislative Service Office endeavored to provide accurate information in this summary, it should not be relied upon as a comprehensive abstract of the bill.