Industrial production equipment-deferral.

25LSO-0044
2025
STATE OF WYOMING
25LSO-0044
Introduced
2.0

HOUSE BILL NO. HB0012

Industrial production equipment-deferral.

Sponsored by: Joint Minerals, Business & Economic Development Interim Committee

A BILL

for

AN ACT relating to taxation and revenue; providing an ad valorem tax deferral for the storage of industrial production equipment in the state; specifying conditions and requirements for the deferral; providing definitions; 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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11
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105(a) by creating a new paragraph (xlvi) and by creating a new subsection (c) is amended to read:

39
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11
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105.

Exemptions.

(a)

The following property is exempt from property taxation:

(xlvi)

Property that is stored by the purchaser in this state before the first installation of the property as industrial production equipment in this state, in accordance with the conditions and requirements of subsection (c) of this section.

(c)

Industrial production equipment that is stored in this state before the first installation of the property in this state shall be exempt from property taxation during the storage or inventory period for a period not to exceed two (2) reporting periods, in accordance with the following:

(i)

As used in this subsection:

(A)

"Commercial storage facility" means a facility operated by a person who is not the taxpayer where industrial production equipment is temporarily stored before installation and that has been approved by the department;

(B)

"Industrial production" means any of the following:

(I)

Manufacturing, milling, converting, producing, processing or fabricating materials;

(II)

The extraction or processing of minerals;

(III)

The mechanical, chemical or electronic transformation of property into energy or new products.

(C)

"Industrial production equipment" means any equipment designed specifically for use in industrial production or energy production, including pipes necessary for pipelines used for the transportation of minerals and excluding mobile machinery;

(D)

"Mobile machinery" means any equipment, machinery or vehicle that can move from place to place under its own power or that can be moved, transported or towed from place to place, including equipment, machinery or vehicles that are used to transport industrial production equipment.

(ii)

To qualify for the exemption under this subsection, Wyoming sales or use tax shall be paid on the property upon removal of the property from the commercial storage facility;

(iii)

The county assessor or the department may require any documentation necessary to verify that the industrial production equipment is eligible for the exemption under this subsection;

(iv)

To qualify for the exemption, the industrial production equipment shall be temporarily stored or placed in inventory at a commercial storage facility that has been approved by the department;

(v)

Industrial production equipment that qualifies for the exemption under this section may remain eligible for the exemption under this subsection if the equipment remains in temporary storage or inventory at a commercial storage facility, provided that the purchaser does not install or fix the equipment for use in industrial production;

(vi)

The exemption under this subsection shall not apply to:

(A)

Industrial production equipment with a sales price of less than fifty thousand dollars ($50,000.00);

(B)

Mobile machinery;

(C)

Raw materials used in industrial production.

(vii)

The department shall promulgate rules for the application of the exemption under this subsection, including rules to:

(A)

Require taxpayers to notify the department and the county assessor, as applicable, of the purchase, storage and installation of qualifying industrial production equipment;

(B)

Specify the requirements and qualifications for a facility or location to qualify as a commercial storage facility.

Section 2
.

This act is effective July 1, 2025
.

(END)

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HB0012