The bill amends the property tax refund program in Wyoming by expanding eligibility and clarifying the application process. It allows any person who occupies a property as their principal residence to apply for a refund, regardless of ownership or who pays the property tax. The application must be submitted by the first Monday in June, and applicants must demonstrate residency in Wyoming for at least five years and occupy the property for at least nine months of the tax year. The bill also revises the income threshold for eligibility, increasing it from three-fourths (3/4) to one hundred twenty-five percent (125%) of the median gross household income for the applicant's county or the state.

Additionally, the bill specifies that the maximum refund amount will not exceed half of the property tax paid in the prior year, with a minimum refund of $250 for applicants who do not own their principal residence. The Department of Revenue is tasked with defining gross income and household assets through rules and regulations, and it will issue refunds by September 30 of the application year. The act is set to take effect on January 1, 2024.

Statutes affected:
Introduced: 39-13-109