This bill amends the distribution of severance tax revenues in Wyoming, specifically altering how these funds are allocated to the highway fund. It introduces a new provision that stipulates for fiscal year 2026 and beyond, severance tax funds will be directed to the highway fund. Additionally, the bill modifies the existing allocation for fiscal year 2023 through fiscal year 2025, specifying that two-thirds of the tax collected will be equally divided between the permanent Wyoming mineral trust fund and the common school account within the permanent land fund.

Furthermore, the bill repeals a previous provision that allowed for the distribution of severance tax in the general appropriations bill, streamlining the process for allocating these funds. The effective date for this act is set for July 1, 2025.

Statutes affected:
Introduced: 39-14-801