For-profit trade schools-property tax exemption.

25LSO-0735
2025
STATE OF WYOMING
25LSO-0735
Numbered
2.0

SENATE FILE NO. SF0150

For-profit trade schools-property tax exemption.

Sponsored by: Senator(s) McKeown, French, Hicks, Hutchings, Ide, Laursen, D, Pearson, Salazar, Schuler and Smith, D and Representative(s) Allemand and Brown, G

A BILL

for

AN ACT relating to taxation and revenue; providing a property tax exemption for the real and tangible personal property of for-profit trade schools; specifying eligibility and requirements for the exemption; making conforming amendments; specifying legislative purposes; and providing for effective dates.

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

Section 1
.

W.S. 39
‑
11
‑
105(a)(xxv), by creating a new paragraph (xlvi) and by creating a new subsection (c) is amended to read:

39
‑
11
‑
105.

Exemptions.

(a)

The following property is exempt from property taxation:

(xxv)

Property used for schools, museums, orphan asylums or hospitals to the extent they are not used for private profit
, except as provided in paragraph (xlvi) of this subsection
.

As used in this paragraph, "museum" means as defined in W.S. 34
‑
23
‑
101(a)(iv);

(xlvi)

Tangible personal property and real property of for
‑
profit trade schools, in accordance with subsection (c) of this section.

(c)

Real property and tangible personal property owned by a for
‑
profit trade school is exempt from taxation under paragraph (a)(xlvi) of this section, in accordance with all of the following:

(i)

As used in this subsection, "for
‑
profit trade school" means a vocational, technical or trade school located in Wyoming that is operated for profit;

(ii)

To qualify for the exemption under this subsection, the for
‑
profit trade school shall:

(A)

Be a registered business entity in Wyoming and in good standing with the secretary of state;

(B)

Be physically located in Wyoming;

(C)

Be operated for the primary purpose of providing postsecondary technical, vocational or career
‑
technical education;

(D)

Offer programs or certifications aligned with workforce development needs, as determined by the department of workforce services;

(E)

Maintain accreditation by a nationally or regionally recognized accrediting body or meet equivalent standards established by the Wyoming department of education.

(iii)

The exemption shall apply only to all tangible personal property and real property of the for
‑
profit trade school physically located in Wyoming and that is used exclusively for educational purposes by the for
‑
profit trade school;

(iv)

Tangible personal property and real property used by the for
‑
profit trade school for commercial purposes unrelated to education and instruction shall not qualify for the exemption;

(v)

To qualify for the exemption under this subsection, a for
‑
profit trade school shall apply for the exemption on a form and in a manner determined by the department. The application shall include, at a minimum, accreditation documentation, a description of the property for which the exemption is sought and its primary use and proof of qualification under paragraph (ii) of this subsection;

(vi)

If the department concludes that the for
‑
profit trade school is eligible for the exemption under this subsection, the exemption shall apply for five (5) tax years, subject to paragraph (viii) of this subsection. Each for
‑
profit trade school shall provide annual updates to the department and the applicable county assessor on the property that qualifies for the exemption;

(vii)

To continue or renew an exemption under this subsection, a for
‑
profit trade school granted an exemption under this subsection shall apply to renew the exemption not less than six (6) months before the exemption expires;

(viii)

The appropriate county assessor or the department may audit for
‑
profit trade schools qualifying for the exemption under this subsection. Any for
‑
profit trade school that has received the exemption in violation of this subsection shall be subject to enforcement available under this act.

Section 2.

The legislature finds that for
‑
profit trade schools play a vital role in preparing Wyoming residents for careers in high
‑
demand industries, supporting workforce development and contributing to the state's economic growth. The purpose of this act is to encourage the operation and expansion of for
‑
profit trade schools in Wyoming for purposes of economic development, which constitutes a valid public purpose that is of primary benefit to all citizens of the state of Wyoming.

Section 3.

The department of revenue shall promulgate all rules necessary to implement this act.

Section 4.

(a)

Except as provided in subsection (b) of this section, this act is effective January 1, 2026.

(b)

Sections 3 and 4 of this act are 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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SF0150