HB0256 Property tax holiday. | Wyoming Bill

Plain English Breakdown

The bill's status as 'Inactive' means it did not pass during the current legislative session and has no further action expected.

Property Tax Holiday

This act provides temporary property tax reductions in Wyoming for industrial and other properties during the year 2023.

What This Bill Does

Reduces property taxes by 16.67% for industrial properties used for business purposes.

Reduces property taxes by 33.33% for all other types of property.

Limits these tax reductions to the year 2023 only, ending on June 30, 2024.

Requires that any overpaid taxes due to this reduction be reconciled as refunds.

Who It Names or Affects

Property owners in Wyoming who pay property taxes.

Businesses and industries with properties used for business purposes.

Terms To Know

Sunset date

The specific date when a law or provision expires, in this case June 30, 2024.

Industrial property

Property used for business purposes such as factories and warehouses.

Limits and Unknowns

The bill only applies to the tax year 2023.

This act has been marked as inactive, meaning it did not pass in its current session.

Bill History

2023-02-07 House

H:Died in Committee Returned Bill Pursuant to HR 5-4

2023-02-07 House

H No report prior to CoW Cutoff

2023-01-30 House

H Introduced and Referred to H03 - Revenue

2023-01-25 House

H Received for Introduction

2023-01-25 LSO

Bill Number Assigned

Current Bill Text

Read the full stored bill text

23LSO-0548
2023
STATE OF WYOMING
23LSO-0548
Numbered
2.0

HOUSE BILL NO. HB0256

Property tax holiday.

Sponsored by: Representative(s) Locke, Allemand, Haroldson, Jennings, Styvar and Ward

A BILL

for

AN ACT relating to property tax; providing a property tax reduction for tax year 2023; providing a sunset date; specifying applicability; and providing for an effective date.

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

Section 1.

W.S. 39
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13
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107(b)(i) by creating a new subparagraph (F) and 39
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13
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113 by creating a new subsection (h) are amended to read:

39
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13
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107.

Compliance; collection procedures.

(b)

The following provisions shall apply to the payment of taxes, distraint of property and deferral:

(i)

The following shall apply to the payment of taxes due:

(F)

For purposes of a tax holiday in tax year 2023, the amount of the tax due under this paragraph shall be reduced by sixteen and sixty
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seven hundredths percent (16.67%) for property used for industrial purposes as provided in W.S. 39
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11
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101(a)(xvii)(B) and thirty
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three and thirty
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three hundredths percent (33.33%) for all other property as provided in W.S. 39
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11
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101(a)(xvii)(C). This subparagraph is repealed on June 30, 2024.

39
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13
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113.

Monthly payment of ad valorem tax on gross product of mineral production.

(h)

For purposes of a tax holiday in tax year 2023, the amount of the tax due each month under subsection (b) of this section or due annually under subsection (d) of this section for production in calendar year 2023 shall be reduced by sixteen and sixty
‑
seven hundredths percent (16.67%). This subsection is repealed on June 30, 2024.

Section 2.

To the extent that taxes on mineral production in calendar year 2023 are paid prior to the effective date of this act, the amount of taxes paid that would have been reduced under this act shall be reconciled as an overpayment of taxes as provided in W.S. 39
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13
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113(b).

Section 3
.

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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HB0256