The bill amends existing laws regarding impact assistance payments related to the construction of industrial facilities in Wyoming. It allows the industrial siting council to increase the maximum allowable percentage of impact assistance payments beyond the previously established limits, which were set at 2.25% for facilities with estimated material costs of $350 million or less, 2% for costs between $350 million and $850 million, and 1.5% for costs exceeding $850 million. The new provision permits the council to raise this maximum percentage to a level determined by the council, not to exceed 2.76%, if it finds that the standard percentage is insufficient to address the identified impacts of the construction.

Additionally, the bill requires the council to submit a report to relevant legislative committees within ten business days of any increase in the maximum allowable percentage, detailing the justification for the increase. The act applies only to impact assistance payments for industrial facility permit applications submitted after its effective date, which is immediate upon completion of necessary legislative procedures. The bill aims to ensure that local governments receive adequate financial support to mitigate the impacts of industrial construction projects on their communities.

Statutes affected:
Introduced: 39-15-111, 39-16-111