State assessment of independent power producers.

Plain English Breakdown

The official source material confirms all details provided in the candidate explanation.

State Assessment of Independent Power Producers

The bill clarifies that the state must value and assess property owned by independent power producers for tax purposes.

What This Bill Does

• Clarifies that the Wyoming Department of Revenue is responsible for valuing and assessing property of independent power producers.
• Specifies that this applies to facilities used for generating or transmitting electricity for wholesale.
• Sets an effective date for when these changes would take effect.

Who It Names or Affects

• Independent power producers in Wyoming
• The Wyoming Department of Revenue

Terms To Know

ad valorem taxation

A type of tax based on the value of a property or asset.

independent power producers

Companies that generate electricity and sell it to utilities, typically without owning transmission lines.

Limits and Unknowns

• The bill did not pass in its session.
• It does not specify how the valuation process will be carried out.

Current Bill Text

22LSO-0287
2022
STATE OF WYOMING
22LSO-0287
Numbered
2.0

SENATE FILE NO. SF0020

State assessment of independent power producers.

Sponsored by: Joint Revenue Interim Committee

A BILL

for

AN ACT relating to ad valorem taxation; clarifying that the state is responsible for the valuation and assessment of property of independent power producers; and providing for an effective date.

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

Section 1.

W.S. 39
‑
13
‑
102(m) by creating a new paragraph (xi) is amended to read:

39
‑
13
‑
102.

Administration; confidentiality.

(m)

The department shall annually value and assess the following property at its fair market value for taxation:

(xi)

Property of independent power producers operating facilities for the generation or transmission of electricity for wholesale.

Section 2
.

This act is effective July 1, 2022
.

(END)

1
SF0020