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 bill sets limits on the number of properties that can be designated based on the population of the city or town. Property owners who demolish or bring these properties into compliance with applicable codes within two years of designation can apply for a tax credit of up to 50% of their expenditures. Additionally, new owners of such properties can also qualify for the tax credit if they meet the same conditions within five years of acquisition.

Furthermore, the bill amends existing laws to enable cities and towns to assess fees for the costs associated with abating nuisances or repairing dangerous properties. It introduces new legal language that allows governing bodies to create liens for abatement costs, which will have priority from the date of filing. The tax credit provisions are detailed, specifying that property owners must document their expenditures and receive approval from the governing body before claiming the credit. The act is set to take effect on July 1, 2025.

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