This bill amends the tax exemption provisions for locally owned property used for housing projects in Wyoming. It specifies that property owned by municipalities or counties is considered public property and is exempt from taxes and special assessments, provided it meets certain criteria. The amendments include that the property must be 100% owned by the municipality, county, or an entity under their control, and that the exemption does not apply to any portion of a project used for profit-making enterprises. Additionally, municipalities or counties may agree to make payments to public bodies in lieu of taxes to maintain the low-rent character of housing projects.

The bill will take effect on January 1, 2026, and applies to all taxpayers, cities, towns, and counties. It is designed to ensure that tax exemptions for housing projects are clearly defined and that municipalities retain some financial responsibility for public services provided to these properties. The bill is effective immediately upon completion of the necessary legislative processes.

Statutes affected:
Introduced: 15-10-107