summary
Introduced
02/15/2022
02/15/2022
In Committee
03/01/2022
03/01/2022
Crossed Over
02/28/2022
02/28/2022
Passed
Dead
03/08/2022
03/08/2022
Introduced Session
2022 General Session
Bill Summary
AN ACT relating to severance taxes; creating severance tax refunds for specified oil, gas and coal severance taxes based on increased federal royalty rates; authorizing the transfer of government royalty revenue as specified; providing for distribution of the state's share of specified federal mineral royalties; requiring rulemaking; and providing for effective dates.
AI Summary
This bill creates severance tax refunds for oil, gas, and coal producers in Wyoming based on any increases in federal mineral royalty rates since July 1, 2021. The refund amount is equal to the increase in the federal royalty rate multiplied by the state's share of the royalties, after accounting for reduced mineral values due to the higher royalties. The refunds are funded by a transfer from the state's general mineral royalty account to a separate severance tax distribution account. The Department of Revenue is required to promulgate rules to implement the refund program and report annually on the number and amount of refunds provided.
Committee Categories
Business and Industry
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Select Federal Natural Resource Management (Other)
Last Action
H:Died in Committee Returned Bill Pursuant to HR 5-4 (on 03/08/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.wyoleg.gov/Legislation/2022/SF0084 |
| BillText | https://www.wyoleg.gov/2022/Engross/SF0084.pdf |
| Senate Floor Amendment SF0084S2001 | https://wyoleg.gov/2022/Amends/SF0084S2001.pdf |
| Senate Committee Amendment SF0084SS001 | https://wyoleg.gov/2022/Amends/SF0084SS001.pdf |
| BillText | https://www.wyoleg.gov/2022/Introduced/SF0084.pdf |
| Fiscal Note | https://www.wyoleg.gov/2022/Fiscal/SF0084.pdf |
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