Severance tax distribution.

WORKING DRAFT
2009
STATE OF
WYOMING
09LSO-0079

HOUSE BILL
NO.
HB0045

Severance tax distribution.

Sponsored by:
Joint Transportation, Highways and Military Affairs Interim Committee

A BILL

for

AN ACT relating to taxation and revenue; providing for the distribution of certain severance tax revenues
for highway purposes
as specified; 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)(ii) 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) 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:

(ii)

Two-thirds (2/3) to the budget reserve account
,
.

except for the period beginni
ng July 1, 2009
and ending June 30, 2016,
during which time
the revenue under this paragraph shall be distributed as follows:

(A
)

Fifty percent (50%)
to the budget reserve account;

(B)

Forty percent (40%) to the highway fund;
and

(
C
)

Ten percent (1
0%)
to
the multi-lane highway funding account created by
W.S. 39
‑
17
‑
211
(g)
.

Section 2
.

This act
is effective July 1, 2009
.

(END)

1
HB0045