Home owner's tax credit.

WORKING DRAFT
2007
STATE OF
WYOMING
07LSO-0273

HOUSE BILL
NO.
HB0060

Home

owner's tax credit.

Sponsored by:
Representative(s) Olsen

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
‑
13
‑
109(d)(i)(D)(intro) and (E)(intro) is amended to read:

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109(d)(i)(E)(I) is repealed.

Section 3.

Beginning with the effective date of this act and ending June 30, 2008, t
here is appropriated to the department of revenue from the general fund
five
million
three hundred thousand
dollars ($
5,3
00,000.00) for the purposes of this act.

Section 4.

This act shall apply to the property taxes imposed during the calendar year 2007.

Section 5.
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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HB0060