2000 State of Wyoming 00LSO-0169 SUBSTITUTE NO. 1




                             SENATE FILE NO.  SF0013
                                        
                                        
Mineral valuation and taxation study.

Sponsored by: Joint Revenue Interim Committee


                                     A BILL
                                        
                                       for

 1  AN ACT relating to mineral valuation and taxation; creating

 2  a mineral valuation and taxation committee as specified;

 3  creating membership; providing duties and responsibilities,

 4  requiring a report; providing an appropriation; and

 5  providing for an effective 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 valuation and

12  taxation committee consisting of eleven (11) members as

13  follows:

14

15            (i)  Five (5) members appointed by the governor,

16  one (1) of whom shall be employed by the state attorney

17  general's office;

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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 and two (2) of whom shall be

 4  members of the senate revenue committee;

 5

 6            (iii)  Three (3) members of the house of

 7  representatives appointed by the speaker of the house of

 8  representatives, one (1) of whom shall be a member of the

 9  minority party and two (2) of whom shall be members of the

10  house revenue committee.

11

12       (b)  The mission of the committee shall be to recommend

13  a fair, viable and simplified system of valuation and

14  taxation for minerals.  In developing the standards and

15  options in fulfilling its mission the committee shall:

16

17            (i)  Establish criteria for determining and

18  evaluating state and local mineral valuation and taxation

19  options;

20

21            (ii)  Establish a priority list for addressing the

22  valuation and taxation of each mineral with the highest

23  priority being minerals for which the administration of

24  valuation and taxation is the most complex;

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 1            (iii)  Develop a fair, understandable system which

 2  is as simple as possible to comply with and administer;

 3

 4            (iv)  Make recommendations that fulfill the

 5  overall mission of the committee.

 6

 7       (c)  The committee may engage the services of research

 8  firms or consulting expertise as necessary to carry out the

 9  purposes of this act.  The governor's office or any agency

10  of the executive branch as directed by the governor, shall

11  provide necessary administrative and technical assistance to

12  the committee in carrying out the purposes of this act.

13

14       (d)  The committee shall report its findings with any

15  recommendation to the governor and the legislature on or

16  before September 1, 2001.  The committee shall cease to

17  exist on December 31, 2001.

18

19       Section 2.  There is appropriated from the general fund

20  one hundred thousand dollars ($100,000.00), or as much

21  thereof as may be necessary to the governor to carry out the

22  purposes of this act.

23     

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 1       Section 3.  This act is effective immediately upon

 2  completion of all acts necessary for a bill to become law

 3  as provided by Article 4, Section 8 of the Wyoming

 4  Constitution.

 5

 6                                      (END)

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