The bill establishes a framework for cities and towns in Wyoming to address abandoned and nuisance properties through a tax credit incentive. 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 varies based on the population of the city or town. Property owners who demolish or bring these properties into compliance with applicable codes within specified timeframes can apply for a tax credit, which is capped at 50% of their expenditures for demolition or compliance efforts.

Additionally, the bill amends existing laws to authorize cities and towns to assess fees for the costs associated with abating nuisances or repairing dangerous properties. It creates a new provision for assessing abatement costs and establishing liens against real property for such actions. The tax credit provisions are detailed, including eligibility requirements and limitations on the number of credits a property can receive within a ten-year period. The act is set to take effect on July 1, 2025.

Statutes affected:
Introduced: 15-1-103, 39-13-109