The proposed bill establishes the Energy Product Reclassification and Sovereignty Act, which aims to enhance the production of value-added manufactured products using natural gas in Wyoming. It mandates the Wyoming Energy Authority to create industrial sovereign zones where such production can occur, particularly in areas where natural gas prices are lower. The bill outlines the definitions of key terms, such as "value-added manufactured product" and "substantial molecular transformation," and provides for an expedited licensing and permit process for facilities within these zones. Additionally, it includes tax exemptions for machinery used in these facilities and for natural gas consumed in the production process.

Furthermore, the bill introduces a certification program for value-added manufactured products produced in Wyoming, promoting their unique attributes and ensuring they meet specific methane intensity standards. The authority is tasked with administering this certification program, which is voluntary for producers. The bill also includes various amendments to existing laws to facilitate the establishment of industrial sovereign zones and streamline the regulatory process for businesses involved in the production of value-added products. The act is set to take effect immediately upon its passage.

Statutes affected:
Introduced: 35-11-109, 37-5-503, 39-14-204, 39-14-205, 39-15-105, 39-16-105