Bill > HB0012

This bill provides a property tax deferral for industrial production equipment stored in Wyoming before its first installation, offering a two-reporting-period exemption for qualifying equipment. The bill defines key terms such as "industrial production" (which includes manufacturing, mineral extraction, and property transformation), "industrial production equipment" (specialized equipment for industrial or energy production), and "commercial storage facility" (a temporary storage location approved by the state department). To qualify for the tax exemption, the equipment must be valued at $50,000 or more, stored in an approved commercial storage facility, have Wyoming sales or use tax paid upon removal from storage, and not be mobile machinery or raw materials. The bill requires taxpayers to notify the department and county assessor about the purchase, storage, and installation of qualifying equipment, and empowers the state department to establish rules for implementing the exemption. The tax deferral is designed to provide flexibility for businesses in managing and staging industrial equipment before its first use in the state, with the exemption becoming effective on July 1, 2025.

Business and Industry

Minerals, Business and Economic Development (Joint)

https://www.wyoleg.gov/Legislation/2025/HB0012