The bill establishes a framework for cities and towns in Wyoming to address abandoned and nuisance buildings through a tax credit incentive. It allows local governing bodies to designate properties as abandoned or nuisances if they have been vacant for at least six months or are significantly deteriorated. The number of properties that can be designated varies based on the population of the city or town. Owners of designated properties can receive tax credits for expenditures made to demolish the building or bring it into compliance with applicable codes, provided they submit proof of these expenditures to the governing body for approval.

Additionally, the bill authorizes cities and towns to assess fees for the costs associated with abating nuisances or repairing dangerous buildings. It includes new legal language that allows governing bodies to assess abatement costs similarly to special assessments and establishes a tax credit process for property owners who improve designated properties. The tax credit can be applied against future tax payments for up to ten years, with specific limitations on the amount and eligibility for credits. The act is set to take effect on July 1, 2024.

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