Property tax refund program-extension.

ORIGINAL
House
Bill No
.
HB0005

ENROLLED ACT NO.

21
,

HOUSE OF REPRESENTATIVES

SIXTY-THIRD
LEGISLATURE OF THE STATE OF WYOMING
2015 General Session

AN ACT relating to taxation and revenue; reinstituting the property tax refund program; amending related provisions; and providing for an effective date.

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

Section 1
.

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

39
‑
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
‑
13
‑
105, a property tax refund under W.S.
39
‑
13
‑
109(c)(iv)
39
‑
13
‑
109(c)(v)
or a property tax credit under W.S. 39
‑
13
‑
109(d) for the same calendar year. Subject to legislative appropriation for the program, 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
‑
13
‑
105, any homeowner's tax credit under W.S. 39
‑
13
‑
109(d)(i) or any tax refund under W.S.
39
‑
13
‑
109(c)(iv)
39
‑
13
‑
109(c)
(v)
. Refunds provided by this subsection shall be calculated and may be reduced based upon legislative appropriation for the program in accordance with the following:

39
‑
13
‑
109
.

Taxpayer remedies.

(c)

Refunds. The following shall apply:

(v)

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 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 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 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:

(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 in an individual retirement account (IRA) or other bona fide pension plan;

(V)

The cash value of any life insurance policies held;

(VI)

Assets held in a medical savings account.

(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.

Section
2
.

This
act is effective
immediately upon completion of all acts necessary
for a bill to become law as provided by Article 4, Section 8 of the Wyoming Constitution.

(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

1