Property tax refund program.

WORKING DRAFT

ORIGINAL HOUSE

BILL

NO.
0092

ENROLLED ACT NO. 55, HOUSE OF REPRESENTATIVES

FIFTY-NINTH LEGISLATURE OF THE STATE OF
WYOMING
2008 BUDGET SESSION

AN ACT relating to
taxation and revenue; providing for a property tax re
fund
program as specified;

providing for an appropriation;
and providing for an effective date.

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

Section 1.

W.S. 39
‑
13
‑
109(c) by creating a new paragraph (iv) is amended to read:

39
‑
13
‑
109.

Taxpayer remedies.

(c)

Refunds. The following shall apply:

(iv)

The following shall apply to the property tax re
fund
program:

(A)

On or before the first Monday in June, upon the filing of an affidavit demonstrating an adequate showing that he is qualified under subparagraph (B)
or (C)
of this paragraph, any person may apply to the county treasurer or department of revenue for a property tax refund from property taxes timely paid for the preceding calendar year upon his principal residence including the land upon which the residence is located. An applicant shall have been a resident of this state for not less than five (5) years prior to applying for a refund under this paragraph. Subject to legislative appropriation, the affidavit shall include information as required by rule and regulation on a form approved by the department of revenue. The tax re
fund
granted shall be as provided by subparagraph (C) of this paragraph;

(B)

Gross income as used in this subparagraph shall be defined by the department through rules and regulations. Such gross income shall be verified by federal income tax returns which shall accompany the application for refund, if federal income tax returns were required and filed, or whatever other means necessary as determined by the department through rules and regulations. The tax re
fund
for qualifying persons shall be in the form of a refund of any ad valorem tax due and timely paid upon the person's principal residence for the preceding calendar year in the amount specified in this paragraph. The department shall issue all refunds due under this paragraph on or before September 30 of the year in which application is made for the refund. Any person shall qualify for a refund in the amount specified under this paragraph if the person's gross income including the total household income of which the person is a member does not exceed the greater of
two-thirds (2/3)
of the median gross household income for the applicant's county of residence or the state, as determined annually by the economic analysis division of the department of administration and information. Additionally, no person shall qualify for a refund under this paragraph unless the person has total household assets as defined by the department of revenue through rules and regulations of not to exceed
fifty
thousand dollars ($
5
0
,000.00) per adult member of the household as adjusted annually by the statewide average Wyoming cost-of-living index published by the economic analysis division of the department of administration and information, excluding the following:

(I)

The value of the home for which the taxpayer is seeking
a tax refund
;

(II)

One (1) personal motor vehicle per adult in the household;

(III)

Household furnishings and personal property;

(IV)

Assets held under a bona fide pension plan or individual retirement account (IRA);

(V)

The cash value of any life insurance policies held.

(C)

A refund granted under this paragraph shall not exceed one-half (1/2) of the applicant's prior year's property tax, but in no instance shall the amount of refund exceed one-half (1/2) of the median residential property tax liability for the applicant's county of residence as determined annually by the department of revenue;

(D)

Nothing in this paragraph shall be construed to prohibit or affect requirements for property to be listed, valued and assessed by the county assessor pursuant to law. Each year the county shall publicize in a manner reasonably designed to notify all residents of the county the provisions of this paragraph and the method by which eligible persons may obtain a refund;

(E)

The department shall promulgate rules and regulations necessary to implement this paragraph;

(F)

Any refund as provided by this paragraph shall be reduced by the dollar amount received by the person applying for the refund for the preceding calendar year of any exemption received for veterans under W.S. 39
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13
‑
105, any home owner's tax credit under paragraph (d)(i) of this section, or any property tax deferral under W.S. 39
‑
13
‑
107(b)(iii);

(G)

This paragraph is repealed January 1,
2015
.

Section 2.

(a)

Notwithstanding W.S. 9
‑
2
‑
1008, 9
‑
2
‑
1012(e) and 9
‑
4
‑
207:

(
i
)

Two million dollars ($2,000,000.00) of the f
unds appropriated by 2004
Wyoming Session Laws
,
Chapter 121, Section 4 shall not revert and
are hereby reappropriated to
the department of revenue for the purposes of this act
; and

(
ii
)

F
unds appropriated under this section shall not lapse
or revert
until June 30, 2015.

Section
3
.

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)

Speaker of the House

President of the Senate

Governor

TIME APPROVED: _________

DATE APPROVED: _________

I hereby certify that this act originated in the House.

Chief Clerk

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