Stripper well tax exemption.

Plain English Breakdown

The bill did not pass and was not considered for introduction, which means its provisions are not currently in effect.

Stripper Well Tax Exemption

The bill proposes to exempt oil production from stripper wells in Wyoming from ad valorem taxes starting January 1, 2022.

What This Bill Does

• Creates an exemption from ad valorem taxes for oil produced by stripper wells.
• Sets the new tax rule to start on January 1, 2022.

Who It Names or Affects

• Oil producers who operate stripper wells.
• The state of Wyoming's revenue from ad valorem taxes.

Terms To Know

Ad Valorem Tax

A tax based on the value of a property or asset, such as land or oil production.

Stripper Well

An oil well that produces less than 10 barrels of oil per day.

Limits and Unknowns

• The bill did not pass and was not considered for introduction.
• It is unclear how many oil producers will be affected by this exemption.

Current Bill Text

21LSO-0409
2021
STATE OF WYOMING
21LSO-0409
Numbered
2.0

HOUSE BILL NO. HB0145

Stripper well tax exemption.

Sponsored by: Representative(s) Fortner, Bear, Burt, Haroldson, Jennings, Neiman, Ottman and Winter

A BILL

for

AN ACT relating to taxes; creating an exemption from ad valorem taxes for oil production from stripper wells; and providing for an effective date.

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

Section 1
.

W.S. 39
‑
13
‑
105 by creating a new subsection (n) is amended to read:

39
‑
13
‑
105.

Exemptions.

(n)

Stripper production in Wyoming is exempt from the mill levies imposed by W.S. 39
‑
13
‑
104(a). As used in this
subsection, "stripper production" means as defined by W.S. 39
‑
14
‑
201(a)(xxiv).

Section 2
.

This act is effective January 1, 2022
.

(END)

1
HB0145