SF0110 • 2023

Personal property-tax exemption.

AN ACT relating to property taxes; providing a property tax exemption for tangible personal property; making conforming amendments; repealing provisions related to the reporting and valuation of personal property; specifying applicability; and providing for an effective date.

Taxes

Did Not Pass

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

Sponsor: Senator McKeown
Last action: 2023-02-06
Official status: inactive
Effective date: 3/1/2023

Plain English Breakdown

The candidate explanation included a claim about removing penalties which was not supported in the official source material.

Personal Property Tax Exemption

The bill proposes to exempt tangible personal property with a fair market value of up to $2,400 from property taxes.

What This Bill Does

Exempts tangible personal property with a fair market value of up to $2,400 from property taxes.
Repeals certain provisions related to the reporting and valuation of personal property.

Who It Names or Affects

Business owners with tangible personal property valued at up to $2,400 in one county.
County assessors responsible for valuing and taxing personal property.

Terms To Know

Tangible Personal Property: Physical items that can be touched or moved, such as equipment or inventory, but does not include real estate.
De Minimis Business Property: Business property with a very low value ($2,400 or less) in one county that is exempt from taxes.

Limits and Unknowns

The bill does not apply to any property tax assessments imposed before January 1, 2024.
It is unclear how the exemption will affect local government budgets and services funded by personal property taxes.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

SF0110SS001

Standing Committee • Senate Revenue Committee

Adopted

Plain English: The amendment to SF0110 involves technical corrections related to punctuation and specific wording in the bill text.

Reinserts a comma that was previously stricken from page 1 line 15 of the bill.
Reinserts language that was previously stricken from page 2 lines 1 through 4 of the bill.
Changes 'any' to 'real' on page 2 line 3.

The amendment text is focused on technical corrections and does not provide clear information about the substantive changes to the bill's content or intent.

Bill History

2023-02-06 Senate
S 3rd Reading:Failed 14-17-0-0-0
2023-02-03 Senate
S 2nd Reading:Passed
2023-02-02 Senate
S COW:Passed
2023-01-27 Senate
S Placed on General File
2023-01-27 Senate
S03 - Revenue:Recommend Amend and Do Pass 5-0-0-0-0
2023-01-16 Senate
S Introduced and Referred to S03 - Revenue
2023-01-16 Senate
S Received for Introduction
2023-01-12 LSO
Bill Number Assigned

Current Bill Text

Read the full stored bill text

23LSO-0477
2023
STATE OF WYOMING
23LSO-0477
Introduced
2.0

SENATE FILE NO. SF0110

Personal property-tax exemption.

Sponsored by: Senator(s) McKeown, Biteman, French, Hutchings, Ide, Laursen, D and Salazar and Representative(s) Neiman

A BILL

for

AN ACT relating to property taxes; providing a property tax exemption for tangible personal property; making conforming amendments; repealing provisions related to the reporting and valuation of personal property; specifying applicability; and providing for an effective date.

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

Section 1.

W.S. 18
‑
3
‑
205(a), 39
‑
11
‑
105(a)(xlii) and 39
‑
13
‑
108(d)(i) are amended to read:

18
‑
3
‑
205.

Interfering with assessor; penalties.

(a)

Any person interfering with the county assessor or deputy county assessor in the discharge of his duties
, or any person refusing to allow the county assessor, deputy county assessor or representative of the department of revenue to examine any property pursuant to W.S. 39
‑
13
‑
103(b)(v),
is guilty of a misdemeanor, and upon conviction shall be fined not more than seven hundred fifty dollars ($750.00), or imprisoned for not more than six (6) months in jail, or both.

39
‑
11
‑
105.

Exemptions.

(a)

The following property is exempt from property taxation:

(xlii)

If a person owns two thousand four hundred dollars ($2,400.00) or less in fair market value of business property in one (1) county, the business property shall be exempt as de minimis business property. As used in this paragraph, "business property" means taxable
All tangible
personal property
,
excluding any property that is exempt under W.S. 39
‑
11
‑
105(a)(xi) as personal property held for personal or family use.

39
‑
13
‑
108.

Enforcement.

(d)

Liens.

The following shall apply:

(i)

Taxes upon real property are a perpetual lien thereon against all persons excluding the United States and the state of Wyoming
;
. Taxes upon personal property are a lien upon all real property owned by the person against whom the tax was assessed subject to all prior existing valid liens. Taxes upon personal property are a lien upon the personal property until paid but if the personal property is transferred before payment the tax shall be collected from other real or personal property of the transferor but if the transferor has no other property from which the taxes can be collected then payment shall be enforced from the transferred property;

Section 2.

W.S. 18
‑
3
‑
205(b), 39
‑
13
‑
102(q)(ii)(E), 39
‑
13
‑
103(b)(i)(B) and (v) and 39
‑
13
‑
107(a)(i) are repealed.

Section 3.

This act shall not apply to any property tax assessment imposed before January 1, 2024.

Section 4
.

This act is effective January 1, 2024
.

(END)

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SF0110