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.: HB0044 Drafter: MQ

LSO No.: 04LSO-0024.C1 Effective Date: 7/1/2004

Enrolled Act No.: HEA0020

Chapter No.: 27

Prime Sponsor: Joint Revenue Interim Committee

Catch Title: Sales and use tax exemption-manufacturing equipment.

Subject: Provides a sales and use tax exemption for machinery and machine tools used in manufacturing.

Summary/Major Elements:

· Grants a sales/use tax exemption for machinery and machine tools used in manufacturing.

· Applies only to manufacturing industry in the NAICS (Northern American Industry Classification System) code sector 31-33. This sector covers major manufacturing, but excludes the entire mineral industry.

Comments:

· Report Required – Wyoming business council and the department of revenue shall jointly report on or before December 1 each year to the joint minerals and revenue interim committees.

· Contains delayed repeal date – Exemption is only in effect until December 31, 2010.