Wyoming business council-promotion of low taxes.

21LSO-0210
2021
STATE OF WYOMING
21LSO-0210
Numbered
2.0

HOUSE BILL NO. HB0110

Wyoming business council-promotion of low taxes.

Sponsored by: Representative(s) Gray, Bear, Fortner, Haroldson, Jennings, Knapp, Laursen and Winter and Senator(s) Bouchard, Hutchings, Kolb and McKeown

A BILL

for

AN ACT relating to the administration of government; providing legislative findings; amending the duties and obligation of the Wyoming business council; requiring the Wyoming business council to promote Wyoming's competitive tax rates as specified; requiring reporting; and providing for an effective date.

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

Section 1.

(a)

The legislature finds that:

(i)

The state of Wyoming has strived to create the most friendly tax environment for both businesses and individuals in order to solidify the state as the preeminent destination for establishing or relocating a business and for raising a family;

(ii)

The state's efforts to create a low tax environment competitively position the state in attracting new businesses and generating economic and employment growth;

(iii)

That the state has been recognized many times for its efforts in creating a low tax environment;

(iv)

Since 2010, the Tax Foundation has recognized the state of Wyoming as having the best business tax climate in the nation as evidenced by the Tax Foundation's annual State Business Tax Climate Index.

(b)

In order for the state of Wyoming to better capitalize on being a leader for creating and maintaining a low tax environment, the legislature finds that the state,
through the Wyoming business council, must be proactive in promoting Wyoming's low tax rates and as the best place for people seeking the greatest competitive advantage.

Section 2
.

W.S. 9
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12
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104 by creating a new subsection (c) and 9
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12
‑
106(a)(i) are amended to read:

9
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12
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104.

General powers and duties of the council.

(c)

It shall be the duty of the council to promote the state's low tax rates imposed upon i
ndividuals and private businesses in Wyoming in comparison to other state, national and regional tax rates. In meeting its obligations under this section the council shall:

(i)

Assemble and distribute information
concerning
the economic advantages of the state's
low tax rates
for individuals and private businesses;

(ii)

Implement, as part of or in addition to the duties and responsibilities specified under W.S.
9
‑
12
‑
105(a)(i) through (iii) and (v) and 9
‑
12
‑
106(a)(i), programs to promote the state's
low tax rates;

(iii)

Take such further action as the council deems advisable to promote the state's low tax rates.

9
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12
‑
106.

Planning and research.

(a)

It shall also be the duty of the council to:

(i)

Develop a comprehensive economic development strategy for the state,
starting
which shall include strategies for promoting the state's low tax rates imposed upon individuals and private businesses in comparison to other state, national and regional rates. The development of a comprehensive economic strategy shall start
the first year of each new gubernatorial administration, consistent with the provisions of this act; and

Section 3.

Not later than October 15, 2021 and October 15, 2022, the Wyoming business council shall report to the joint minerals, business and economic development
interim committee concerning the programs implemented and all other actions taken as required by this act.

Section 4.

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)

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HB0110