Homestead exemption-2.

WORKING DRAFT
2009
STATE OF
WYOMING
09LSO-0371

SENATE FILE
NO.
SF0081

Homestead exemption-2.

Sponsored by:
Senator(s) Cooper, Dockstader, Larson and Martin and Representative(s) Davison

A BILL

for

AN ACT relating to
taxation and revenue; providing for a homestead tax exemption as specified; amending related provisions; repealing conflicting provisions; providing an appropriation;
and providing for an effective date.

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

Section 1
.

W.S. 39
‑
11
‑
105(a) by creating a new paragraph (xxxviii), 39
‑
11
‑
109(c)(ii) and (viii) and 39
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13
‑
109(d) by creating a new paragraph (ii) are amended to read:

39
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11
‑
105.

Exemptions.

(a)

The following property is exempt from property taxation:

(xxxviii)

Property used as a homestead to the extent provided by W.S. 39
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13
‑
109(d)(ii).

39
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11
‑
109.

Taxpayer remedies.

(c)

Refunds. The following shall apply:

(ii)

Wyoming residents meeting asset eligibility requirements under paragraph (vii) of this subsection who are sixty-five (65) years of age and older or who are eighteen (18) years of age and older and are totally disabled during the one (1) year period immediately preceding the date of application for a refund under this subsection and are not residents of any state funded institution, are qualified for an exemption and refund of state taxes as provided in this subsection. The application shall indicate whether the applicant has applied for or received any refund under this section, a property tax exemption under W.S. 39
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13
‑
105

or 39
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13
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109(d)(ii)
,
or
a property tax refund under W.S. 39
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13
‑
109(c)(iii)
or a property tax credit under W.S. 39
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13
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109(d)

for the same calendar year. A qualified single person whose actual income is less than seventeen thousand five hundred dollars ($17,500.00) shall receive eight hundred dollars ($800.00) reduced by the percentage that his actual income exceeds ten thousand dollars ($10,000.00) per year and qualified married persons, at least one (1) of whom is at least sixty-five (65) years of age or totally disabled, whose actual income is less than twenty-eight thousand five hundred dollars ($28,500.00) shall receive nine hundred dollars ($900.00) reduced by the percentage that their actual income exceeds sixteen thousand dollars ($16,000.00) per year. Until remarriage a person sixty (60) years or older once qualified through marriage remains eligible individually for single person benefits, subject to income limitations, after the death of his spouse;

(viii)

Any refund provided by this subsection shall be reduced by the dollar amount received by the applicant for the preceding calendar year from any exemption under W.S. 39
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13
‑
105
, any homeowner's tax credit under W.S. 39
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13
‑
109(d)(i)

or 39
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13
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109(d)(ii),

or any tax refund under W.S. 39
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13
‑
109(c)(iii).

39
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13
‑
109.

Taxpayer remedies.

(d)

Credits. The following shall apply:

(ii)

The following shall apply to the homestead exemption:

(A)

Subject to subparagraph (F) of this paragraph, a person who has been domiciled in
Wyoming
for at least three (3) years and who occupies a specified dwelling is entitled to a tax exemption as provided by subparagraph (D) of this paragraph. Not more than one (1) tax exemption shall be allowed on the same pi
ece of property during any year;

(B)

A person who wishes to claim a homestead exemption shall file an annual sworn statement on or before the fourth Monday in May on the form provided by the department of revenue and mailed to the applicant by the county assessor with an annual assessment of the property for tax purposes. False claims by an applicant are punishable as provided in W.S. 6
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5
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303. The applicant shall swear or affirm that:

(I)

He is currently domiciled in
Wyoming
and has been domiciled in
Wyoming
for at least the immediately preceding three (3) years;

(II)

At the time of claiming the exemption he is the owner of the dwelling and it is his primary residence; and

(III)

He has not claimed a homestead exemption in any other state or in any other county in
Wyoming
for that calendar year.

(C)

The county
treasurer
shall collect from the property owner the amount of the tax due less any tax exemption under this
paragraph
. On or before September 1 of each year, county assessors shall certify the exemptions granted pursuant to this
paragraph
to the department. On or before October 1 of each year the state treasurer shall reimburse each county treasurer for the amount of taxes which would have been collected if the homestead
exemption had not been granted;

(D)

The exemption under subparagraph (A) of this paragraph is
the lesser of the amount of the tax assessed or
three hundred dollars ($300.00)
of the
tax assessed
if the dwelling

h
as
been occupied by the applicant since the
beginning of the calendar year;

(E)

Every person holding an escrow for the payment of taxes on property owned by another shall notify the owner of the property of the amount of the homestead exemption allowed to the owner under this
paragraph
on o
r before October 1 of each year;

(F)

The homestead exemption authoriz
ed by this paragraph shall not be applicable for
each tax year
unless
:

(I)

T
he legislature has appropriated monies
to
the department
to reimburse
local governments for tax losses c
aused
by
the exemption for the applicable tax year. If the
department
determines that the monies appropriated are insufficient to fully reimburse all such tax revenues lost, the
department
shall calculate a reduced exemption amount
funded
by the appropriation and the exemption shall be reduced accordingly. The monies appropriated shall be prorated among the counties according to the exemption amounts allowed
;

or

(
II)

On the last day of the immediately
preceding

budget biennium:

(1)

The combined unappropriated balance of the general fund and the budget reserve account will meet or exceed five percent (5%) of the general fund revenue projection for the current budget biennium; and

(2)

The unappropriated balance of the school foundation program account will meet or exceed one hundred million dollars ($100,000,000.00).

(G)

The
determination
s

required by subdivision
(F)
(II) of this paragraph shall be made by the governor not later than April 1 of the year preceding the tax year in which the exemption would be authorized.

T
he governor shall use actual
revenues received during the current
fiscal
biennium
, revenue estimates of the consensus revenue estimating group (CREG) and any
actual appropriations and expenditure estimates
f
or
the
foundation program
. If the determination
s
made by the governor
under this
subparagraph
results in the authorization of the homestead exemption under
subdivision (II) of subparagraph (F) of this paragraph
:

(I)

T
he governor shall so certify to the
legislature, the state treasurer, the
department
of revenue and the county
treasurers
;
and

(II)

There is appropriated to the department of revenue from the general fund, or as necessary from the budget reserve account, the amount necessary to fund the exemption. The de
partment shall expend the funds to reimburse
local governments for tax losses c
aused
by
the exemption for the applicable tax year.

(H
)

As used in this paragraph:

(I)

"Applicant" means:

(1)

A person who occupies and owns a homestead either solely or jointly with his spouse;

(2)

A person who occupies a homestead as a vendee in possession under a contract of sale;

(3)

A person who occupies a homestead owned by a corporation primarily formed for the purpose of farming or ranching if the person is a shareholder or is related to a shareholder of the corporation; or

(4)

A person who occupies a homestead owned by a partnership primarily formed for the purpose of farming or ranching if the person is a partner or is related to a partner in the partnership.

(II)

"Dwelling" means a house, trailer house, mobile home, transportable home or other dwelling place.

Section
2
.

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

Section
3
.

There is appropriated
forty million dollars ($40,000,000.00)
from the general fund to the
department of revenue
to be
expended
only as provided in W.S. 39
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13
‑
109(d)(ii) created under section 1 of this act.

Section 4.

This act shall apply to any property tax assessed on or after January 1, 2009.

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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SF0081