Please Note: The following summaries of legislation enacted during the 2004 Legislative Session were prepared by the Legal Services Division Staff for internal use by the Legislative Service Office.

This report is not an official publication of the Wyoming Legislature and does not purport to be an official statement of legislative intent concerning any measure enacted by the Legislature.

The bill summaries contained in this report were prepared as an aid to locating enacted legislation and as a brief recap of the major provisions of each bill. While the information provided in these summaries is accurate, the summaries are not intended as a detailed abstract and reference should be made to the enacted bills for more complete information.

Bill No.: HB0034 Drafter: MQ

LSO No.: 04LSO-0192.E2 Effective Date: 1/1/2004

Enrolled Act No.: HEA0064

Chapter No.: 121

Prime Sponsor: Joint Revenue Interim Committee

Catch Title: Property tax relief program amendments.

Subject: Amends the property tax relief program.

Summary/Major Elements:

· Main thrust of bill: Requires the Dept. of Revenue to fund property tax refunds to qualifying applicants (change from the counties having to pay for the refunds).

· Requires a person to be a resident for at least 10 years in order to qualify for a property tax refund.

· Applicant must also meet asset limitations (less than $5,000) which excludes the value of the home, 1 personal vehicle, household furnishings and property, assets under a pension plan or IRA, or the cash value of any life insurance policies.

· Property tax refund is limited to ½ of the applicant's prior year's property tax.

Comments:

· Dept. of Revenue must report to the joint revenue interim committee on or before December 1, 2004 including an itemization for the refunds provided.

· Repealed on January 1, 2008.