Severance tax distribution amendments.

2015
STATE OF WYOMING
15LSO-0174
Numbered
2.1

HOUSE BILL

NO.

HB0244

Severance tax distribution amendments.

Sponsored by:
Representative(s) Throne and Connolly

A BILL

for

AN ACT relating to severance taxes; increasing the amount of severance taxes available for distribution as specified; providing for future adjustment to the amount of severance taxes available for distribution based on the Wyoming cost-of-living index; 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)(intro) 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)
two hundred five million dollars ($205,000,000.00)
in any fiscal year
, except that the maximum distribution under subsection (e) of this section shall be adjusted in fiscal year 2020 and every five (5) fiscal years thereafter by the cumulative, compounded state average Wyoming cost
‑
of
‑
living index published by the economic analysis division of the department of administration and information for the prior five (5) most recent calendar years for which an index has been published
. To the extent that distributions under subsection (e) of this section would exceed that amount in any fiscal year, the excess shall be credited:

Section
2
.

This
act is effective July 1,
2015
.

(END)

1