SF0044 • 2022

Severance tax distribution-jobs and education.

AN ACT relating to taxation and revenue; changing distribution of a percentage of severance tax from the permanent Wyoming mineral trust fund and common school account to the highway fund and the community college commission; and providing for an effective date.

Education Energy Land Taxes

Did Not Pass

The latest official action shows that this bill did not move forward in that session.

Sponsor: Transportation
Last action: 2022-02-16
Official status: inactive
Effective date: 3/1/2022

Plain English Breakdown

The bill did not pass and was not signed into law, so it does not have a current impact on how severance tax money is distributed.

Severance Tax Distribution for Jobs and Education

The bill proposes to change how a portion of severance tax money is distributed from the permanent Wyoming mineral trust fund and common school account to the highway fund and community college commission.

What This Bill Does

Proposes changing where some of the severance tax money goes starting in fiscal year 2023.
Sends seventy percent (70%) of this tax money to the highway fund for road building.
Gives thirty percent (30%) of the tax money to a special account for community colleges.
Does not change how much total severance tax is collected.

Who It Names or Affects

People who pay severance taxes in Wyoming
The state government, especially departments dealing with roads and education

Terms To Know

Severance Tax: A tax that companies pay when they take natural resources like oil or gas out of the ground.
Permanent Wyoming Mineral Trust Fund: A fund where some severance tax money is kept to help the state in the future.

Limits and Unknowns

The bill did not pass and was not signed into law.
It only affects how the money is split after it's collected, not how much is collected overall.

Bill History

2022-02-16 Senate
S Failed Introduction 14-16-0-0-0
2022-02-07 Senate
S Received for Introduction
2022-01-25 LSO
Bill Number Assigned

Current Bill Text

Read the full stored bill text

22LSO-0208
2022
STATE OF WYOMING
22LSO-0208
Numbered
2.0

SENATE FILE NO. SF0044

Severance tax distribution-jobs and education.

Sponsored by: Joint Transportation, Highways & Military Affairs Interim Committee

A BILL

for

AN ACT relating to taxation and revenue; changing distribution of a percentage of severance tax from the permanent Wyoming mineral trust fund and common school account to the highway fund and the community college commission; 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)(v) is amended to read:

39
‑
14
‑
801.

Severance tax distributions; distribution account created; formula.

(b)

Before 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
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14
‑
204(a)(i) for the same period shall be deposited as follows:

(v)

For fiscal year 2023
through fiscal year 2028
and thereafter,
these funds shall be deposited
equally to the permanent Wyoming mineral trust fund and to the common school account within the permanent land fund;
seventy percent (70%) to the highway fund and thirty percent (30%) to a separate account that is continuously appropriated for and may be expended by the community college commission in accordance with and in addition to appropriations available under W.S. 21
‑
18
‑
205(c).

Section 2.

W.S. 39
‑
14
‑
801(b)(vi) and (f) is repealed.

Section
3.

This act is effective July 1, 2022.

(END)

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SF0044