The bill amends the existing law regarding ad valorem taxation of mineral production in Wyoming, specifically focusing on the calculation and distribution of payments. It establishes that the tax year for mineral production will be the calendar year in which the production occurs. Additionally, it clarifies that mineral and mine producers must report their production and pay the associated taxes on a monthly basis, with the payment amount calculated using the most recent mill levy rate established by the county, rather than the rate from the immediately preceding year.

Furthermore, the bill outlines the responsibilities of the county treasurer in sending annual statements to taxpayers regarding their tax dues or overpayments, and it mandates that the department collect and distribute the monthly and annual payments to the county treasurer. The county treasurer is then required to proportionally distribute the received funds to each taxing entity authorized to receive a tax levy for that production year. The act is set to take effect on July 1, 2023.

Statutes affected:
Introduced: 39-13-113