The proposed bill establishes an excise tax on the production and sale of electricity in Wyoming, effective January 1, 2026. The tax rate is set at 3.5% of the annual gross energy earnings from electricity produced in the state. The bill outlines specific exemptions, including electricity produced by federal or state-owned facilities and for personal consumption up to 500 kilowatt hours per day. Additionally, it provides for tax credits against the excise tax for other taxes paid by the electricity producer, including severance taxes on minerals used in the production process.

The bill also includes provisions for the administration and enforcement of the tax by the Department of Revenue, which will be responsible for rulemaking and collection procedures. Penalties for non-compliance are established, including interest on delinquent taxes and potential liens on property. Furthermore, the bill creates an electrical generation account to manage the proceeds from the tax, with the intent to support local governments through payments that would have been collected as sales taxes on electricity. Amendments to existing tax definitions and exemptions are also included to align with the new excise tax framework.

Statutes affected:
Introduced: 39-11-101, 39-15-103, 39-15-105