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HB0019 • 2006

Severance tax cap-increase.

AN ACT relating to taxation and revenue; providing for the distribution of severance taxes as specified; providing for the funding of multi-lane highways as specified; conforming related provisions; providing for application of the act; and providing for an effective date.

Taxes
Inactive

Wyoming marks this bill as inactive, which usually means it is no longer moving in the current session.

Sponsor
Revenue
Last action
2006-03-11
Official status
inactive
Effective date
Not listed

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Bill History

  1. 2006-03-11 House

    H Committee Returned Bill Pursuant to HR 4-3(b)

  2. 2006-02-17 House

    H Introduced and Referred to H03; No Report Prior to CoW Cutoff

  3. 2006-02-13 House

    H Received for Introduction

  4. 2005-12-07 LSO

    Bill Number Assigned

Current Bill Text

Read the full stored bill text 
WORKING DRAFT
2006
STATE OF
WYOMING
06LSO-0225

HOUSE BILL
NO.
HB0019

Severance tax cap-increase.

Sponsored by:
Joint Revenue Interim Committee

A BILL

for

AN ACT relating to taxation and revenue; providing for the distribution of severance taxes as specified; providing for the funding of multi-lane highways as specified; conforming related provisions; providing for application of the act; and providing for an effective date.

Be It Enacted by the Legislature of the State of
Wyoming
:

Section 1.

W.S. 39
‑
14
‑
801(d)(intro)
,
(e)(i) and by creating a new paragraph (xi) is amended to read:

39
‑
14
‑
801.

Severance tax distributions; distribution account created; formula.

(d)

After making distributions under subsections (b) and (c) of this section, distributions under subsection (e) of this section shall be made from the severance tax distribution account. The amount of distributions under subsection (e) of this section shall not exceed
one hundred fifty-five million dollars ($155,000,000.00)
two hundred million dollars ($200,000,000.00)
in any fiscal year. To the extent that distributions under subsection (e) of this section would exceed that amount in any fiscal year, the excess shall be credited:

(e)

Deposits into the account created by subsection (a) of this section shall be distributed as follows, subject to subsections (b) through (d) of this section:

(i)

To the general fund,
sixty-two and twenty-six hundredths percent (62.26%)
forty-eight and twenty-five hundredths percent (48.25%)
;

(xi)

To an account within the highway fund to be designated as the multi-lane highway funding account, fourteen and one hundredth percent (14.01%), to be expended for the purposes of constructing and maintaining multi-lane highways in this state, enhancing safety and mobility and facilitating economic and population growth.

Section 2.

This act shall apply to distributions of revenues
earned on and after July, 2006
, and thereafter.

Section 3.

This act is effective July 1, 2006.

(END)

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HB0019