This bill establishes a framework for cities and towns in Wyoming to incentivize the improvement of abandoned and nuisance buildings through a tax credit system. 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 bill sets limits on the number of properties that can be designated based on the population of the city or town, with specific caps for municipalities of different sizes. Additionally, it outlines the criteria for determining whether a property is abandoned or a nuisance, emphasizing the need to consider potential harm to neighboring properties and the community.

Furthermore, the bill introduces provisions for tax credits for property owners who invest in demolishing or bringing these designated buildings into compliance with applicable codes. Owners can receive a credit of up to 50% of their expenditures for demolition or compliance efforts, provided they submit proof of these expenditures to the local governing body. The bill also allows cities and towns to assess fees for the costs associated with abating nuisances or repairing dangerous buildings. The effective date for this act is set for July 1, 2025.

Statutes affected:
Draft 25LSO-0011: 15-1-103, 39-13-109