SF0050 - De-earmarking of severance taxes-distribution-2.

 

2001

State of Wyoming

01LSO-0169

 

 

 

SENATE FILE NO.  SF0050

 

 

De-earmarking of severance taxes-distribution-2.

 

Sponsored by:  Senator(s) Hawks and Larson and
Representative(s) Cohee

 

 

A BILL

 

for

 

 1  AN ACT relating to the administration of government;
 2  modifying the plan for de-earmarking of severance taxes as
 3  specified; repealing a provision depositing specified
 4  severance taxes to the permanent Wyoming mineral trust
 5  fund; and providing for an effective date.

 6 

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

 8 

 9         Section 1.  W.S. 39-14-801(b) is amended to read:

10 

11         39-14-801.  Severance tax distributions; distribution
12  account created; formula.

13 

14         (b)  To the extent that deposits into the account
15  created under subsection (a) of this section exceed one
16  hundred fifty million dollars ($150,000,000.00) in any

 

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 1  fiscal year, the excess shall be credited to the general
 2  fund, except that fifty percent (50%) of the excess shall
 3  be deposited into the permanent Wyoming mineral trust fund.

 4 

 5         Section 2.  W.S. 39-14-211(j) is repealed.

 6 

 7         Section 3.  This act is effective July 1, 2001.

 8 

 9                         (END)

 

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