The bill establishes the Wyoming Homestead Opportunity Program, aimed at addressing housing supply constraints in the state by facilitating the disposal of nonessential state lands for single-family residential use. It prohibits ownership of lots by business entities and mandates that the lots be used exclusively for single-family homes. The program will allow eligible purchasers, defined as U.S. citizens domiciled in Wyoming for at least twelve consecutive months, to acquire lots at a nominal price of one dollar per acre, with strict covenants to ensure compliance with residential use. The bill outlines the administration of the program, including the identification of eligible parcels, the establishment of homestead clusters, and the allocation of lots through a random procedure.

Additionally, the bill includes provisions for the reversion of lots if the covenants are violated, and it requires the eligible purchasers to occupy the lots as their primary residence for a minimum of five years. The legislation also mandates the board to create rules for the program's implementation, ensuring that the integrity of the residential purpose is maintained. An appropriation of $250,000 is allocated for the study and initial administration of the program, which is set to take effect on July 1, 2026.

Statutes affected:
Introduced: 36-1-101, 36-9-102