Severance tax distributions.

2016
State of Wyoming
16LSO-0093
Introduced
1.2

SENATE FILE

NO.
SF0013

Severance tax distributions.

Sponsored by:
Senator(s) Burns

A BILL

for

AN ACT relating to taxation; providing that a portion of the statutory severance tax shall not be deposited in the permanent mineral trust fund for a specified time period; providing for deposits of a portion of the statutory severance tax in the severance tax distribution account; repealing archaic provisions; and providing for an effective date.

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

Section 1
.

W.S. 39
‑
14
‑
801(
b)(intro) is amended to read:

39
‑
14
‑
801
.

Severance tax distributions; distribution account created; formula.

(b)

Except for the fiscal p
eriod beginning July 1, 2016 through the fiscal period
ending June 30, 2022, b
efore making distributions from the severance tax distribution account under subsections (c) through (e) of this section, an amount equal to two
‑
thirds (2/3) of the amount of tax collected under W.S. 39
‑
14
‑
104(a)(
i
) and (b)(
i
) and 39
‑
14
‑
204(a)(
i
) for the same period shall be deposited into the permanent Wyoming mineral trust fund
.
, except that for the fiscal year 2010 these funds shall be deposited as follows:

Section 2
.

W.S. 39
‑
14
‑
801(
b)(
i
) and (ii)
is
repealed.

Section
3
.

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)

1
SF0013