This amendment adds exemption amount details, defines primary residence, clarifies applicability conditions, and modifies the statutory reference in the long-term homeowner tax exemption bill.
- Expands the bill's purpose statement to include revision of the exemption amount in addition to the application deadline. (Page 1, line 1)
- Adds 'amending definitions' to the bill's stated purposes. (Page 1, line 4)
- Changes the statutory section reference from only subsection (B) to include subsections (A), (B), and (C)(II), indicating broader scope of amendments. (Page 1, lines 7-8)
- Establishes a new subsection (A) specifying the exemption amount as 50% of fair market value for eligible long-term homeowners age 65 or older, with a cap of the first $3,000,000 of fair market value. (Page 2, after line 3)
- Modifies subsection (B) to make its provisions subject to the conditions in the new subsection (C)(II), clarifying the hierarchy of exemption rules. (Page 2, line 5)
- Adds a new subsection (C) defining 'primary residence' as residential property in Wyoming where the claimant resides for at least eight months per year, with a provision allowing months in multiple owner-occupied residences to count if a property is sold and another is purchased within the state. (Page 2, after line 22)
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