This amendment deletes multiple prior amendments, modifies the homeowner property tax exemption framework by adjusting exemption percentages and compensation caps, adds new permanent fund reserve account provisions, and establishes a pro-rata distribution mechanism when appropriations are insufficient.
- Deletes twelve previously adopted amendments to SF0069, clearing the way for this comprehensive replacement amendment. (Page 1, lines 1-12)
- Expands the bill's purposes to include fund transfers, reporting requirements, rulemaking, and an appropriation. (Page 1, line 3)
- Adds references to new statutory provisions for the permanent Wyoming mineral trust fund reserve account and creates a new paragraph (iii) for fund transfers to the legislative stabilization reserve account. (Page 1, lines 7-20)
- Corrects grammar by changing 'is' to 'are' to match plural antecedent. (Page 1, line 8)
- Establishes a new permanent Wyoming mineral trust fund reserve account with investment authority, quarterly pro-rata transfer mechanisms to the general fund (2.5% of five-year average market value), annual reconciliation procedures, and transfers to the legislative stabilization reserve account. (Page 1, lines 24-31)
- Reduces the homeowner property tax exemption from 50% to 25% of fair market value. (Page 2, lines 5, 33-34)
- Reduces the fair market value cap for the exemption from $2,000,000 to $1,000,000. (Page 2, lines 8, 36-38)
- Modifies compensation provisions by removing 'fully compensate' language, establishing a cap of $220,000,000 (increased from $100,000,000) on legislative stabilization reserve account appropriations, clarifying that compensation comes from legislative appropriations first with stabilization reserve account as backup, and mandating pro-rata distribution when funds are insufficient. (Page 3, lines 40-3 (new section E, lines 1-27))
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