Highway and road funding-severance taxes. |
13LSO-0269.L3 |
|
|
FISCAL NOTE
Source of revenue increase (decrease):
Diversion of 50 percent of the current statutory severance tax distribution in W.S. 39-14-801(b) from the Permanent Wyoming Mineral Trust Fund to be distributed pursuant to the distribution formula for diesel fuel taxes in W.S. 39-17-211(d)(ii)
Assumptions:
The above estimates are based on severance tax projections from the October 2012 CREG Forecast.
Diesel fuel taxes are distributed 75 percent to the Highway Fund, 20 percent to County Road Funds, and 5 percent to Municipal Street Funds.
The bill states that the distributions made under this subsection shall be applied as directed by law and shall not be used as an offset to divert existing funding to other funding priorities.
This bill goes into effect on July 1, 2013, impacting severance tax distributions beginning in FY 2014.
Prepared by: Dean Temte, LSO Phone: 777-7881