Bill

Bill > SF0081


WY SF0081

Tax exemption-property owned by the state.


summary

Introduced
01/15/2025
In Committee
02/11/2025
Crossed Over
01/27/2025
Passed
02/18/2025
Dead
Signed/Enacted/Adopted
02/24/2025

Introduced Session

2025 General Session

Bill Summary

AN ACT relating to taxation and revenue; creating a property tax exemption for property owned by the state; providing a sunset date; and providing for an effective date.

AI Summary

This bill creates a comprehensive property tax exemption for lands owned by the state of Wyoming, regardless of how those lands are being used. Specifically, the bill amends existing tax law to clarify that state-owned lands will be exempt from property taxation, with the exemption applying to the tax year beginning January 1, 2025. The bill expands the definition of "governmental purpose" to explicitly include leased state school lands and agricultural lands, ensuring a broad interpretation of the tax exemption. The legislation includes a sunset provision that will automatically repeal the exemption on January 1, 2027, which means the tax exemption will need to be renewed or re-evaluated by the legislature before that date. Importantly, while the lands themselves are exempt, any improvements on those lands that are not used primarily for a governmental purpose may still be subject to property taxation. The bill aims to provide a clear and comprehensive tax exemption for state-owned lands, offering potential financial benefits and consistency in how state-owned properties are treated under Wyoming's tax laws.

Committee Categories

Agriculture and Natural Resources, Budget and Finance

Sponsors (0)

No sponsors listed

Other Sponsors (1)

Agriculture, State and Public Lands and Water Resources (J)

Last Action

Assigned Chapter Number 26 (on 02/24/2025)

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