This bill establishes a new excise tax on the production of electricity in Wyoming, set to take effect on January 1, 2027. The tax will be levied at a rate of 3.5% on the annual gross earnings from electricity produced in the state. It includes provisions for exemptions, such as electricity produced by federal or state-owned facilities and for personal consumption not exceeding 500 kilowatt hours in a 24-hour period. The bill also creates an electrical generation account to manage the proceeds from this tax, which will be used to support local governments and other purposes as determined by legislative appropriation.

Additionally, the bill repeals the existing tax on electricity produced from wind resources, suggesting that the new tax and its associated credits may render the previous tax unnecessary. It amends existing definitions and exemptions in the law to incorporate the new tax structure, including a provision that sales of electricity subject to the new tax will be exempt from other excise taxes. The Department of Revenue is tasked with implementing the necessary rules by the effective date of the tax.

Statutes affected:
26LSO-0189 v0.4: 39-11-101, 39-15-105, 39-22-101, 39-22-111