HB0139 • 2021

Rolling stock tax exemption-sunset.

AN ACT relating to taxation; repealing the sunset dates for sales and use tax exemptions for purchases and sales related to railroad rolling stock; and providing for an effective date.

Taxes

Inactive

Wyoming marks this bill as inactive, which usually means it is no longer moving in the current session.

Sponsor: Representative Wharff
Last action: 2021-04-07
Official status: inactive
Effective date: 3/1/2021

Plain English Breakdown

The candidate explanation included claims that were not supported by the official source material, such as keeping the exemptions ongoing and updating state laws. These statements have been removed or modified accordingly.

Removing End Date for Railroad Tax Exemptions

This act removes specific end dates for tax exemptions on purchases and sales related to railroad rolling stock repairs, assembly, alteration or improvement.

What This Bill Does

Removes the expiration dates for tax exemptions on services and tangible personal property used in repairing, assembling, altering, or improving railroad rolling stock.

Who It Names or Affects

Railroad companies that purchase parts or services for their equipment.
Businesses that sell parts or provide services to repair, assemble, alter, or improve railroad rolling stock.

Terms To Know

Rolling Stock: The vehicles used on a railway, such as trains and locomotives.
Sunset Date: A specific date when a law or tax exemption expires and is no longer in effect.

Limits and Unknowns

This bill did not pass and was marked inactive, meaning it will not become law.
The exact impact on railroad companies and related businesses cannot be determined without the bill becoming active.

Bill History

2021-04-07 House
H:Died in Committee Returned Bill Pursuant to HR 5-4
2021-03-23 House
H No report prior to CoW Cutoff
2021-03-02 House
H Introduced and Referred to H03 - Revenue
2021-03-01 House
H Received for Introduction
2021-02-24 LSO
Bill Number Assigned

Current Bill Text

Read the full stored bill text

21LSO-0287
2021
STATE OF WYOMING
21LSO-0287
Numbered
2.0

HOUSE BILL NO. HB0139

Rolling stock tax exemption-sunset.

Sponsored by: Representative(s) Wharff, Eyre and Laursen and Senator(s) James

A BILL

for

AN ACT relating to taxation; repealing the sunset dates for sales and use tax exemptions for purchases and sales related to railroad rolling stock; and providing for an effective date.

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

Section 1
.

W.S. 39
‑
15
‑
105(a)(viii)(Q) and 39
‑
16
‑
105(a)(viii)(F) are amended to read:

39
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15
‑
105.

Exemptions.

(a)

The following sales or leases are exempt from the excise tax imposed by this article:

(viii)

For the purpose of exempting sales of services and tangible personal property as an economic incentive, the following are exempt:

(Q)

Sales of tangible personal property or services performed for the repair, assembly, alteration or improvement of railroad rolling stock
;
. This subparagraph is repealed effective July 1, 2021;

39
‑
16
‑
105.

Exemptions.

(a)

The following purchases or leases are exempt from the excise tax imposed by this article:

(viii)

For the purpose of exempting sales of services and tangible personal property as an economic incentive, the following are exempt:

(F)

Purchases of tangible personal property or services performed for the repair, assembly, alteration or improvement of railroad rolling stock
;
. This subparagraph is repealed effective July 1, 2021;

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)

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HB0139