Property tax refund program.

WORKING DRAFT

ORIGINAL HOUSE

BILL

NO.
0138

ENROLLED ACT NO. 56, HOUSE OF REPRESENTATIVES

SIXTIETH LEGISLATURE OF THE STATE OF
WYOMING
2009 GENERAL SESSION

AN ACT relating to
taxation and revenue; providing amendments to the property tax refund program; repeal
ing the
provision
requiring a reduction of the refund by amounts received from certain programs; providing applicability
;
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)(iv)
(A), (B)(intro), (IV) and by
creating
a new subdivision (VI)
is amended to read:

39
‑
13
‑
109.

Taxpayer remedies.

(c)

Refunds. The following shall apply:

(iv)

The following shall apply to the property tax refund 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
with any
applicable interest and penalties

on
or before the first Monday in June

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 refund 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 refund 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)

three-fourths (3/4)

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 ($50,000.00)

one hundred thousand dollars ($100,000.00)

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:

(IV)

Assets held
under a

in an individual retirement account (IRA) or other

bona fide pension plan
;

or individual retirement account (IRA)
;

(VI)

Assets held in a medical savings account.

Section 2.

W.S. 39
‑
13
‑
109(c)(iv)(F) is repealed.

Section 3
.

This act shall apply to property taxes assessed on or after January 1, 200
8
.

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)

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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