The bill amends the distribution rates for sales and use taxes in Wyoming, specifically adjusting the percentages allocated to the state general fund and local governments. It reduces the percentage credited to the state general fund from 69% to 66% for revenues collected under W.S. 39-15-104 and W.S. 39-16-104. Additionally, the bill modifies the distribution of remaining revenues, increasing the percentage allocated to counties, cities, and towns from 31% to 34% for both sales and use taxes collected from out-of-state vendors.

The changes will take effect for distributions of sales and use taxes collected on or after July 1, 2024. The bill aims to provide a more favorable distribution of tax revenues to local governments, thereby potentially enhancing their financial resources.

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