SF0049

Signed into Law

Tangible personal property-index and depreciation.

Establish valuation indexes and depreciation schedules for taxing tangible personal property under ad valorem taxation rules.

Full legal title

AN ACT relating to ad valorem taxation; requiring tangible personal property to be valued using valuation indexes and depreciation schedules as specified; requiring rulemaking; and providing for effective dates.

Taxes

Sponsor:

View on wyoleg.gov Introduced Text (PDF)Digest (PDF)Engrossed (PDF)Enrolled Act (PDF)Fiscal Note (PDF)

What does this bill do?

Requires tangible personal property to be valued for ad valorem taxation using valuation indexes and depreciation schedules, with a floor preventing values below 20% of acquisition value.

Amends the method for determining fair market value of tangible personal property by requiring the use of valuation indexes and depreciation schedules prescribed by the Department of Revenue through rule and regulation. (W.S. 39-13-103(b)(ii), Sec. 1)
Establishes a depreciation floor of 20% of the acquisition value, preventing valuation indexes or depreciation schedules from reducing the fair market value of fully depreciated property below this floor. (W.S. 39-13-103(b)(ii), Sec. 1)
Directs the Department of Revenue to promulgate all rules necessary to implement the act. (Sec. 2)

Effective: January 1, 2026

AI-generated summary · Verify against the official text (PDF) · Notice a problem? Let us know

Actions (22)

2/24/2025(LSO)

Assigned Chapter Number 20

2/24/2025(Governor)

Governor Signed SEA No. 0008

2/20/2025(House)

H Speaker Signed SEA No. 0008

2/19/2025(Senate)

S President Signed SEA No. 0008

2/19/2025(LSO)

Assigned Number SEA No. 0008

Amendments (3)

SF0049HS001Adopted

HouseStanding Committee

Sponsor: House Revenue Committee

SF0049S2001Adopted

Senate2nd Reading

Sponsor: Senator Pappas

SF0049SS001Failed

SenateStanding Committee

Sponsor: Senate Revenue Committee

Roll Call Votes (2)

H 3rd Reading:Passed 57-4-1-0-0

Key VotePassed

2/18/2025HouseYea 57Nay 4Excused 1

Show individual votes

Yea: Allemand, Andrew, Angelos, Banks, Bear, Brady, Bratten, G. Brown, L. Brown, Byron, E. Campbell, K. Campbell, Clouston, Connolly, Davis, Eklund, Erickson, Filer, Guggenmos, Geringer, Haroldson, Harshman, Heiner, Hoeft, Jarvis, Johnson, Kelly, Knapp, Lawley, Larson, Lien, Locke, Lucas, McCann, Nicholas, Ottman, Pendergraft, Posey, Rodriguez-Williams, Schmid, Sherwood, Singh, Smith, Strock, Styvar, Tarver, Thayer, Washut, Wasserburger, Webb, Webber, Wharff, Williams, Wylie, Winter, Yin, Neiman

Nay: Chestek, Larsen, Provenza, Storer

Excused: Riggins

View full vote →

This committee vote includes adoption of standing committee amendment SF0049HS001.

H03 - Revenue:Recommend Amend and Do Pass 7-1-1-0-0

Recommended

2/11/2025HouseYea 7Nay 1Excused 1

Show individual votes