The proposed bill introduces a new excise tax on electricity generation in Wyoming, establishing a tax rate of 2.25% based on the purchaser sales price of electricity generated within the state. It defines key terms such as "electric generation facility" and "electric public utility," and outlines exemptions for electricity produced by government entities and for personal consumption not exceeding 500 kilowatt hours in a 24-hour period. The Department of Revenue is tasked with enforcing the provisions, including rulemaking and maintaining taxpayer confidentiality. Additionally, the bill repeals existing generation taxes on wind and nuclear energy and provides a sales and use tax exemption on electricity, while also implementing penalties for non-compliance and a revenue distribution mechanism favoring the state general fund and counties based on population.

Furthermore, the bill amends several sections of Wyoming Statutes to clarify the treatment of electricity in relation to tangible personal property, specifically removing references to electricity as tangible personal property and introducing new exemptions for electricity transactions subject to the generation tax. It also repeals W.S. 39-22-101 through 39-23-111, indicating a broader restructuring of the tax code. The effective date for these changes is set for January 1, 2025, with the overall aim of refining the legal framework surrounding electricity taxation in Wyoming.

Statutes affected:
Introduced: 39-11-101, 39-15-101, 39-15-103, 39-15-105, 39-16-101, 39-16-105, 39-22-101, 39-23-111