The bill establishes a framework for cities and towns in Wyoming to address abandoned and nuisance buildings through a tax credit system. It allows local governing bodies to designate properties as abandoned or nuisances if they are vacant, neglected, or pose a danger to the community. Property owners who make expenditures to demolish or improve these designated buildings within specified timeframes can apply for a tax credit, which may cover up to 50% of their expenses. Additionally, the bill outlines the process for documenting and submitting these expenditures for approval to the governing body, ensuring that only approved costs directly benefiting the property are eligible for the tax credit.

Furthermore, the bill amends existing laws to grant cities and towns the authority to assess fees for the costs associated with abating nuisances or repairing dangerous buildings. It introduces new legal language that allows for the assessment of abatement costs as a special assessment against real property and establishes a lien for these costs. The tax credit provisions are also detailed, specifying that property owners can reserve credits for future tax payments, with limitations on the number of credits claimed within a ten-year period. The act is set to take effect on July 1, 2023.

Statutes affected:
Introduced: 15-1-103, 39-13-109