Fuel tax bonds.

WORKING DRAFT

ORIGINAL SENATE

FILE

NO.
0056

ENROLLED ACT NO. 32, SENATE

SIXTIETH LEGISLATURE OF THE STATE OF
WYOMING
2010 BUDGET SESSION

AN ACT relating to
fuel taxes; authorizing certificates of deposit
to secure taxes due from licensees;

specifying
requirements
;
and providing for an effective date.

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

Section 1.
W.S. 39
‑
17
‑
106(e)(
intro
)
, (v)
and by creating a new paragraph (vi), 39
‑
17
‑
108(c)(iii), 39
‑
17
‑
206(k)(
intro
)
, (v)
and by creating a new paragraph (vi) and 39
‑
17
‑
208(c)(iii) are amended to read:

39
‑
17
‑
106.

Licenses; permits.

(e)

The department may require bonds
, or accept in lieu of a bond
a
certificate of deposit meeting the requirements of paragraph (vi) of this subsection,
under this article as follows:

(v)

Failure to post the required bond
or certificate of deposit
under this subsection shall result in the denial of a license
;
.

(vi)

In lieu of a surety or cash bond the department may accept a certificate of deposit
under
the following requirements:

(A)

The certificate
of deposit
:

(I)

S
hall be issued by a financial institution authorized to do business in
Wyoming
and qualified by law to act as a depository of public funds in this state
;

(II)

Shall be payable not more than one (1) year after being deposited with the department.

(
B
)

The department shall be given a
first priority security interest in the certificate of deposit
.

The certificate
of
deposit shall not be subject to attachment or execution unless the attachment or execution arises out of a suit for delinquent taxes, penalties and interest due under this article and the return of the license issued under this article
. The entire amount of the certificate of deposit shall be forfeited to the state if the licensee
practic
es
any fraud, mak
es
any fraudulent representation or violat
es
any law relating to the conduct of the business for which he is licensed under this article
;

(C)

The certificate of deposit and
related documents providing for the
security interest
and forfeiture
shall be a
pproved as to form by the
Wyoming
attorney general;

(D)

The licensee shall pay all cost incurred by the department to perfect its security interest;

(
E
)

Any interest earned on a
certificate
of deposit
shall accrue to the licensee
.

39
‑
17
‑
108.

Enforcement.

(c)

Penalties. The following shall apply:

(iii)

Any person who fails to furnish any report or remit any license tax to the department as required by this article is guilty of a misdemeanor. Each offense is punishable as provided in paragraph (vii) of this subsection. In addition, the department may suspend or revoke any license held by the offender and may require the offender, as a condition of any future licensing under this article, to provide a surety bond
, cash bond or certificate of deposit
as provided by W.S. 39
‑
17
‑
106(e);

39
‑
17
‑
206.

Licenses; permits.

(k)

The department may require bonds
, or accept in lieu of a bond a certificate of deposit meeting the requirements of paragraph (vi) of this subsection,

under this article as follows:

(v)

Failure to post the required bond
or certificate of deposit
under this subsection shall result in the denial of a license
;
.

(vi)

In lieu of a surety or cash bond the department may accept a certificate of deposit under the following requirements:

(A)

The certificate
of deposit:

(I)

S
hall be issued by a financial institution authorized to do business in
Wyoming
and qualified by law to act as a depository of public funds in this state
;

(II)

Shall be payable not more than one (1) year after being deposited with the department.

(
B
)

The department shall be given a
first priority security interest in the certificate of deposit
.

The certificate of
deposit shall not be subject to attachment or execution unless the attachment or execution arises out of a suit for delinquent taxes, penalties and interest due under this article and the return of the license issued under this article
. The entire amount of the certificate of deposit shall be forfeited to the state if the licensee
practic
es
any fraud, mak
es
any fraudulent representation or violat
es
any law relating to the conduct of the business for which he is licensed under this article
;

(C)

The certificate of deposit and related documents providing for the security interest and forfeiture shall be a
pproved as to form by the
Wyoming
attorney general;

(D)

The licensee shall pay all cost incurred by the department to perfect its security interest;

(
E
)

Any interest earned on a
certificate
of deposit
shall accrue to the licensee
.

39
‑
17
‑
208.

Enforcement.

(c)

Penalties. The following shall apply:

(iii)

Any person who fails to furnish any report or remit any license tax to the department as required by this article is guilty of a misdemeanor. Each offense is punishable as provided in paragraph (vii) of this subsection. In addition, the department may suspend or revoke any license held by the offender and may require the offender, as a condition of any future licensing under this article, to provide a surety bond
, cash bond or certificate of deposit
as provided in W.S. 39
‑
17
‑
206(k);

Section 2.
This act is effective July 1, 2010.

(END)

Speaker of the House

President of the Senate

Governor

TIME APPROVED: _________

DATE APPROVED: _________

I hereby certify that this act originated in the Senate.

Chief Clerk

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