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, and mandates that the Department of Revenue enforce the provisions of this chapter, including the collection of taxes and penalties for non-compliance.

The bill also includes amendments to existing laws, specifically regarding the imposition of sales tax on electricity. It creates an "electrical generation account" where the proceeds from the new excise tax will be deposited, with the intent that some funds will be allocated to local governments for sales taxes that would have been collected if electricity sales were subject to sales tax. The Department of Revenue is tasked with adopting necessary rules for implementation by July 1, 2025, while the overall act will take effect immediately upon passage, with the exception of the excise tax provisions which will commence on the specified date.

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