Property tax exemption-organizations funded by the WCDA.

Plain English Breakdown

The bill summary and text do not provide additional details beyond what was already stated in the candidate explanation.

Property Tax Exemption for Housing Organizations

The bill extends a property tax exemption to nonprofit organizations that provide affordable housing and receive funding from the Wyoming Community Development Authority.

What This Bill Does

• Extends a property tax exemption to private, nonprofit community housing development organizations.
• Limits the exemption to real property owned by these organizations until they sell or lease it.

Who It Names or Affects

• Nonprofit community housing development organizations in Wyoming that receive funding from the WCDA and provide affordable housing.

Terms To Know

Community Housing Development Organization

A nonprofit organization that provides affordable housing for communities it serves.

Wyoming Community Development Authority (WCDA)

An authority in Wyoming that funds community development projects, including housing.

Limits and Unknowns

• The bill did not pass and was not considered by the Committee of the Whole.
• It only applies to organizations receiving funding from the WCDA.
• The exemption ends when property is sold or leased by these organizations.

Current Bill Text

22LSO-0321
2022
STATE OF WYOMING
22LSO-0321
Numbered
2.0

SENATE FILE NO. SF0113

Property tax exemption-organizations funded by the WCDA.

Sponsored by: Senator(s) Nethercott, Baldwin, Furphy, Landen and Schuler and Representative(s) Banks, Henderson, Olsen and Zwonitzer

A BILL

for

AN ACT relating to taxation and revenue; extending a property tax exemption to community housing development organizations; and providing for an effective date.

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

Section 1.

W.S. 39
‑
11
‑
105(a)(xviii) is amended to read:

39
‑
11
‑
105.

Exemptions.

(a)

The following property is exempt from property taxation:

(xviii)

Property owned by
:

(A)

T
he Wyoming community development authority excluding assessments for local improvements;

(B)

A private, nonprofit community housing development organization organized to provide affordable housing for the community it serves that receives funding from the Wyoming community development authority. This exemption shall cease to apply to real property from and after the date the real property is sold or leased by the community housing development organization.

Section 2
.

This act is effective July 1, 2022
.

(END)

1
SF0113