HB0112 - Mineral severance taxes-distribution.

 

2001

State of Wyoming

01LSO-0077

 

 

 

HOUSE BILL NO.  HB0112

 

 

Mineral severance taxes-distribution.

 

Sponsored by:  Representative(s) Landon and Osborn and
Senator(s) Kinnison

 

 

A BILL

 

for

 

 1  AN ACT relating to taxation and revenue; ending the
 2  diversion of certain mineral severance tax money as
 3  specified; amending diversions as specified; amending
 4  related provisions; and providing for an effective date.

 5 

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

 7 

 8         Section 1.  W.S. 39-14-111(a) and (k), 39-14-211(b),
 9  39-14-311(a), 39-14-511(a) and (d) and 39-14-801(c)(ii) are
10  amended to read:

11 

12         39-14-111.  Distribution.

13 

14         (a)  As provided by W.S. 39-14-104(a), the total
15  severance tax rate for surface coal shall be seven percent
16  (7%). As provided by W.S. 39-14-104(b), the total severance

 

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 1  tax rate for underground coal shall be three and three-
 2  quarters percent (3.75%). A two and one-half percent (2.5%)
 3  one and one-half percent (1.5%) tax imposed by W.S.
 4  39-14-104(a)(i), (ii) and (vi) and a one and one-half
 5  percent (1.5%) tax imposed by W.S. 39-14-104(b)(i) shall be
 6  deposited into the permanent Wyoming mineral trust fund.
 7  except for the period beginning March 15, 1988, and ending
 8  June 30, 2004, during which the proceeds of the tax imposed
 9  by W.S. 39-14-104(a)(ii) and (vi) shall be deposited into
10  the A one-half percent (.5%) tax imposed by W.S.
11  39-14-104(a)(ii) shall be deposited into the severance tax
12  distribution account.

13 

14         (k)  The state treasurer shall transfer revenue
15  collected under W.S. 39-14-104(a)(vi) to the permanent
16  Wyoming mineral trust fund, except for the period beginning
17  March 15, 1988, and ending June 30, 2004, the revenue shall
18  be transferred to the severance tax distribution account.

19 

20         39-14-211.  Distribution.

21 

22         (b)  The state treasurer shall transfer the revenue
23  collected from the severance tax imposed by W.S.
24  39-14-204(a)(ii) into the permanent Wyoming mineral trust

 

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 1  fund except for the period beginning March 15, 1988, and
 2  ending June 30, 2004, during which the proceeds shall be
 3  deposited into the severance tax distribution account.

 4 

 5         39-14-311.  Distribution.

 6 

 7         (a)  As provided by W.S. 39-14-304(a), the total
 8  severance tax rate for trona shall be four percent (4%). A
 9  two percent (2%) tax imposed by W.S. 39-14-304(a)(i) shall
10  be deposited into the permanent Wyoming mineral trust fund
11  except for the period beginning March 15, 1988, and ending
12  June 30, 2004, during which the proceeds shall be deposited
13  into the severance tax distribution account.

14 

15         39-14-511.  Distribution.

16 

17         (a)  As provided by W.S. 39-14-504(a), the total
18  severance tax rate for uranium shall be four percent (4%).
19  A two percent (2%) tax imposed by W.S. 39-14-504(a)(i)
20  shall be deposited into the permanent Wyoming mineral trust
21  fund except for the period beginning March 15, 1988, and
22  ending June 30, 2004, during which the proceeds shall be
23  deposited into the severance tax distribution account.

24 

 

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 1         (d)  For the period commencing after January 1, 1995,
 2  and ending before March 31, 2003, fifty percent (50%) of
 3  June 30, 2001, the taxes collected pursuant to W.S.
 4  39-14-505(b) shall be deposited into the budget reserve
 5  account and fifty percent (50%) into the general fund
 6  severance tax distribution account.

 7 

 8         39-14-801.  Severance tax distributions; distribution
 9  account created; formula.

10 

11         (c)  Deposits into the account created by subsection
12  (a) of this section shall be distributed as follows,
13  subject to subsection (b) of this section:

14 

15              (ii)  To the budget reserve account permanent
16  Wyoming mineral trust fund, nineteen and thirty-eight
17  hundredths percent (19.38%);

18 

19         Section 2.  This act is effective July 1, 2001.

20 

21                         (END)

 

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