Revenue

The Committee will continue its work related to property tax issues. This topic will include reviewing recent property tax relief bills that were considered by the legislature and considering additional property tax reform options; reviewing how fair market value is determined, including the collection of property purchase data and a review of the property tax appeal process; a discussion on the implementation of Amendment A; and a review of government property tax exemptions.

The Committee will consider issues related to sales and use taxes. This topic will include a review of the sales and use tax including how the taxes are distributed and a review of the existing exemptions. This subtopic will include a review of reporting requirements related to exemptions that are provided as economic incentives. The topic of sales tax distribution will be coordinated with the Joint Appropriations Committee to avoid overlap. This will also include a consideration of combining Chapter 15 (sales tax) and Chapter 16 (use tax) into one chapter in the Wyoming Statutes and a review of how sales tax is collected on ATV's and other vehicles.

The Committee will consider various issues related to Wyoming's tax structure and the administration of taxes in Wyoming. This topic will include an overview of the current tax and revenue structure in Wyoming, including a consideration of potential alternative revenue sources including a tax on electricity production and consideration of authorizing electronic notices to be provided by the Department of Revenue.