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 number of properties that can be designated concurrently is limited based on the population of the city or town, with specific caps set for different population ranges. Additionally, the bill outlines the criteria for determining whether a property is considered abandoned or a nuisance, emphasizing the need to assess potential harm to neighboring properties and the community.

Furthermore, the bill introduces provisions for tax credits for property owners who invest in the demolition or rehabilitation of designated buildings. Owners can receive a credit of up to 50% of their expenditures for demolition or for bringing the building into compliance with applicable codes, provided they submit proof of these expenditures to the local governing body. The bill also allows for the assessment of fees to cover the costs of abating nuisances or repairing dangerous buildings. The act is set to take effect on July 1, 2025.

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