The bill introduces a new exemption from property taxation for energy production equipment that is temporarily stored as inventory in Wyoming before its first installation. Specifically, it adds a new paragraph (xliii) to W.S. 39-11-105(a), which states that such property will be exempt if Wyoming sales or use tax has been paid at the applicable county rate. The county assessor or department may require documentation to verify eligibility for this exemption. The bill defines "energy production equipment" as specialized equipment used for producing energy from various sources, excluding items like storage or transport equipment, mobile energy products, standard building materials, and construction equipment.

The effective date for this act is set for July 1, 2023. This legislation aims to encourage the storage and eventual installation of energy production equipment in Wyoming by alleviating the tax burden during the interim period before installation.

Statutes affected:
Introduced: 39-11-105