2000 State of Wyoming 00LSO-0169
SENATE FILE NO. SF0013
Mineral tax study.
Sponsored by: Joint Revenue Interim Committee
A BILL
for
1 AN ACT relating to mineral taxation; creating a mineral
2 taxation committee as specified; creating membership;
3 providing duties and responsibilities, requiring a report;
4 providing an appropriation; and providing for an effective
5 date.
6
7 Be It Enacted by the Legislature of the State of Wyoming:
8
9 Section 1.
10
11 (a) There is created the mineral taxation committee
12 consisting of eleven (11) members as follows:
13
14 (i) Five (5) members appointed by the governor,
15 one (1) of whom shall be employed by the state attorney
16 general's office;
17
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1 (ii) Three (3) members of the senate appointed by
2 the president of the senate, one (1) of whom shall be a
3 member of the minority party;
4
5 (iii) Three (3) members of the house of
6 representatives appointed by the speaker of the house of
7 representatives, one (1) of whom shall be a member of the
8 minority party.
9
10 (b) The mission of the committee shall be to recommend
11 standards and options for developing a fair, viable and
12 economically competitive state and local tax structure for
13 mineral taxation. In developing the standards and options
14 in fulfilling its mission the committee shall:
15
16 (i) Establish criteria for determining and
17 evaluating state and local mineral taxation options;
18
19 (ii) Analyze the current state and local mineral
20 taxation system including:
21
22 (A) The composition, dependability and
23 flexibility of Wyoming's current mineral taxation system and
24 its adequacy to meet the state's long term needs;
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1 (B) The relative burden imposed by the
2 mineral taxation system on taxpayers and the relative equity
3 of that burden;
4
5 (C) The relationship between mineral taxes
6 and the overall revenue needs of state and local governments
7 in this state;
8
9 (D) The impact of the state and local
10 mineral taxation system on economic development;
11
12 (E) The relative simplicity of the mineral
13 taxation system both in terms of government administration
14 and taxpayer compliance.
15
16 (iii) Review and evaluate forecasts of the most
17 likely range of state and local revenue needs and the impact
18 of the mineral taxation system on those needs;
19
20 (iv) Identify and analyze the mineral taxation
21 options available to Wyoming state and local governments by:
22
23 (A) Examining the revenue potential of each
24 option;
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1 (B) Analyzing how each option compares to
2 the evaluation criteria established and its impact on the
3 various segments of the mineral industry;
4
5 (C) Assessing the administrative difficulty
6 of each option.
7
8 (v) Make recommendations that fulfill the overall
9 mission of the committee.
10
11 (c) The committee may engage the services of research
12 firms or consulting expertise as necessary to carry out the
13 purposes of this act. The governor's office or any agency
14 of the executive branch as directed by the governor, shall
15 provide necessary administrative and technical assistance to
16 the committee in carrying out the purposes of this act.
17
18 (d) The committee shall report its findings with any
19 recommendation to the governor and the legislature on or
20 before July 1, 2002. The committee shall cease to exist on
21 December 31, 2002.
22
23 Section 2. There is appropriated from the general fund
24 one hundred thousand dollars ($100,000.00), or as much
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1 thereof as may be necessary to the governor to carry out the
2 purposes of this act.
3
4 Section 3. This act is effective July 1, 2000.
5
6 (END)
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