Home owner's tax credit-3.

WORKING DRAFT
2006
STATE OF
WYOMING
06LSO-0423

HOUSE BILL
NO.
HB0122

Home owner's tax credit-3.

Sponsored by:
Task Force on Utility and Tax Relief

A BILL

for

AN ACT relating to taxation and revenue; providing for the home owner's tax credit as specified; providing amendments; amending related provisions; repealing conflicting provision; providing an appropriation; specifying applicability 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
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13
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109(d)(i)(D)(intro) and (E)(intro) is amended to read:

39
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13
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109.

Taxpayer remedies.

(d)

Credits. The following shall apply:

(i)

The following shall apply to the home owner's tax credit:

(D)

The tax credit under subparagraph (A) of this paragraph is
one thousand four hundred sixty dollars ($1,460.00)
two thousand dollars ($2,000.00) of assessed value, or the assessed value, whichever is less,
times the mill levy to be applied against the property if the dwelling and land, not to exceed two (2) acres on which the dwelling is located, have a combined assessed value of less than
three thousand nine hundred dollars ($3,900.00), or five hundred ninety dollars ($590.00) times the mill levy to be applied against the property if the dwelling
the median assessed value of dwellings
and land, not to exceed two (2) acres on which the dwelling is located,
have a combined assessed value of at least three thousand nine hundred dollars ($3,900.00) but less than five thousand eight hundred fifty dollars ($5,850.00)
of the county in which the property is located
and if:

(E)

The tax credit under subparagraph (A) of this paragraph is
five hundred ninety dollars ($590.00)
two thousand dollars ($2,000.00) of assessed value, or the assessed value, whichever is less,
times the mill levy to be applied against the property if
the dwelling and land, not to exceed two (2) acres on which the dwelling is located, have a combined assessed value of less than the median assessed value of dwellings and land, not to exceed two (2) acres on which the dwelling is located, of the county in which the property is located and if
:

Section 2.

W.S. 39
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13
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109(d)(i)(E)(I) is repealed.

Section 3.

There is appropriated to the department of revenue from the general fund eight million dollars ($8,000,000.00) for the purposes of providing tax credits authorized under W.S. 39
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13
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109(d)(i) as amended by this act, based upon property taxes imposed during the calendar year 2006.

Section 4.

This act is effective immediately upon co
m
pletion of all acts necessary for a bill to become law as provided by Article 4, Section 8 of the Wyoming Constit
u
tion.

(END)

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HB0122