SF0143 - Sales & use tax distribution-2.

 

2001

State of Wyoming

01LSO-0532.E1

ENGROSSED

 

 

 

SENATE FILE NO.  SF0143

 

 

Sales & use tax distribution-2.

 

Sponsored by:

 

 

A BILL

 

for

 

 1  AN ACT relating to taxation and revenue; providing for
 2  distribution of sales and use tax distribution as
 3  specified; and providing for an effective date.

 4 

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

 6 

 7         Section 1.  W.S. 39-15-111(b)(i) and (g) and
 8  39-16-111(b)(i) are amended to read:

 9 

10         39-15-111.  Distribution.

11 

12         (b)  Revenues earned under W.S. 39-15-104 during each
13  fiscal year shall be recognized as revenue during that
14  fiscal year for accounting purposes. Revenue collected by
15  the department under W.S. 39-15-104 shall be transferred to
16  the state treasurer who shall:

 

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 1 

 2              (i)  Until June 30, 1993, Credit sixty-five
 3  percent (65%) and thereafter, subject to subsection (g) of
 4  this section, credit seventy-two percent (72%) sixty-seven
 5  percent (67%) to the state general fund except as provided
 6  by subsections (c) and (d) of this section and subject to
 7  subsection (g) of this section;

 8 

 9         (g)  If the tax imposed under W.S. 39-15-104(b) is
10  reduced to one-half of one percent (.5%) under W.S.
11  39-15-104(d), on and after September 1 of the year in which
12  the reduction occurs, the distributions to the state
13  general fund under paragraph (b)(i) of this section shall
14  be reduced from seventy-two percent (72%) to sixty-eight
15  percent (68%) sixty-seven percent (67%) to sixty-four
16  percent (64%).

17 

18         39-16-111.  Distribution.

19 

20         (b)  Revenues earned under this article during each
21  fiscal year shall be recognized as revenue during that
22  fiscal year for accounting purposes. Revenue collected by
23  the department from the taxes imposed by this article shall
24  be transferred to the state treasurer who shall:

 

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 1 

 2              (i)  Until June 30, 1993, Credit sixty-five
 3  percent (65%) and thereafter, subject to subsection (g) of
 4  this section, credit seventy-two percent (72%) sixty-seven
 5  percent (67%) to the general fund except as provided by
 6  subsections (d) and (e) of this section and subject to
 7  subsection (g) of this section;

 8 

 9         Section 2.  This act is effective July 1, 2004.

10 

11                         (END)

 

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