Following are the bills that remain and impact Wyoming REALTORS®, the real estate industry and private property rights for the 2020 Wyoming Budget legislative session. If you want to read the full text of the bill, you can click on the bill number. The deadline for bill introduction was Friday, February 14th. We expected and were not disappointed, that numerous bills were filed and died last week. This list reflects new bills that were filed and but did NOT die since the initial report. Both Corporate and Personal Income Tax bills died.
If you have any questions, please do not hesitate to contact me at L@wyoming.com or (307) 851-1191. During the session, I will have my phone on silent, so a text message may be the quickest way for me to receive your inquiries. If you want to read our public policy statements, you will find that document, which guides our position on specific legislation, you can find that document here.
Sponsored By: Joint Corporations, Elections & Political Subdivisions Interim Committee
AN ACT relating to counties, cities and towns; modifying authority to impose zoning assessments; specifying applicability; and providing for an effective date.
IMPACT: Wyoming statutes are silent regarding impact fees. This legislation establishes a statewide policy prohibiting impact fees being imposed by cities or counties.
STATUS: Failed the introduction vote. DEAD
Wyoming REALTOR® Position: SUPPORT
Sponsored By: Joint Revenue Interim Committee
AN ACT relating to agricultural land; increasing the production requirements for agricultural land qualification; and providing for an effective date.
IMPACT: The bill increases the amount of income for a rural property to be considered as agricultural for tax purposes. While the amount would be increased to only $3,000, it may hamper startup ag operations.
STATUS Failed the introduction vote. DEAD
Wyoming REALTOR® Position: MONITOR
Sponsored By: Joint Revenue Interim Committee
AN ACT relating to taxation; creating the National Corporate Tax Recapture Act; imposing a tax on businesses as specified; providing for administration of the Act; providing penalties; requiring rulemaking; requiring a report; and providing for effective dates.
IMPACT: The goal is to impose a corporate income tax on large corporations. The tax would be imposed on public traded corporations with over 100 shareholders. Our concern is how it would impact our franchise offices. We will offer an amendment to insert language adding a dollar profit level to eliminate the impact on any real estate franchise.
STATUS: Received for introduction.
Wyoming REALTOR® Position: MONITOR IF AMMENDED
Sponsored By: Joint Revenue Interim Committee
AN ACT relating to taxation and revenue; authorizing an election on the question of permanently imposing a portion of the local general purpose sales and use taxes; decreasing the number of local entities required to approve provisions related to specified local sales and use taxes; increasing the amount of time between elections for specified local sales and use taxes; authorizing the implementation of an optional municipal sales and use taxes as specified; providing procedures; amending related provisions; specifying applicability; and providing for an effective date.
IMPACT: The bill allows individual municipalities to impose an optional tax. The bill is the “Grand Compromise” between the cities and counties. Cities have tried for numerous years to find a way to allow put an optional “city only” tax on the ballot. While this bill requires substantial hoops, it is a path forward.
STATUS: Introduce, referred to the House Revenue committee, received a do pass. Passed Committee of the Whole, on 2nd Reading on February 14th it was laid back (temporarily delayed) due to a 2nd reading amendment that had not been distributed to the body.
Wyoming REALTOR® Position: SUPPORT
Sponsored By: Joint Revenue Interim Committee
AN ACT relating to taxation; creating the National Corporate Tax Recapture Act; imposing a tax on businesses as specified; providing for administration of the Act; providing penalties; requiring rulemaking; requiring a report; and providing for effective dates.
IMPACT: The goal is to impose a corporate income tax on large corporations. The tax would be imposed on public traded corporations with over 100 shareholders. Our concern is how it would impact our franchise offices. We will offer an amendment to insert language adding a dollar profit level to eliminate the impact on any real estate franchise.
STATUS: Failed the introduction vote. DEAD
Wyoming REALTOR® Position: MONITOR IF AMMENDED
Sponsored By: Representative(s) Clausen, Barlow and Kirkbride and Senator(s) Boner and Wasserburger
AN ACT relating to oil and gas; amending provisions related to surface damage and disruption payments; and providing for an effective date.
IMPACT: The bill expands the process for landowners to recover actual damages from oil and gas companies.
STATUS: Received for introduction. Referred to the Minerals Committee. No hearing date set.
Wyoming REALTOR® Position: MONITOR
Sponsored By: Representative(s) Clausen, Barlow, Kirkbride and Lindholm and Senator(s) Boner and Wasserburger
AN ACT relating to oil and gas; authorizing surface owner objections for an operator's failure to comply with requirements to negotiate in good faith; specifying procedures; amending notice requirements; and providing for an effective date.
IMPACT: The bill clarifies the process for a landowners objections if they believe an oil and gas company is not acting in good faith.
STATUS: Failed the introduction vote. DEAD
Wyoming REALTOR® Position: MONITOR
Sponsored By: Representative(s) Laursen, Clem, Hallinan and Miller and Senator(s) Biteman, Bouchard and Case
AN ACT relating to professions and occupations; extending professional licensing options for military spouses to all persons; providing for the issuance of professional and occupational licenses to qualified applicants from other states; requiring rulemaking; and providing for effective dates.
IMPACT: The bill would require most professional licensing boards to issue licenses to individuals that hold similar licenses in other states without any testing. The concern is that internet companies from the west coast could have a Wyoming license without ever stepping foot into the state or having any knowledge of Wyoming law.
STATUS: Failed the introduction vote. DEAD
Wyoming REALTOR® Position: OPPOSE
Sponsored By: Representative(s) Yin and Schwartz and Senator(s) Gierau
AN ACT relating to county authority to regulate unoccupied properties; authorizing counties to impose a fee on unoccupied residential dwellings as specified; providing for use of revenues generated for a county property tax relief or refund program or an affordable housing program; and providing for an effective date.
IMPACT: The bill would allow Counties to impose a fee on residential dwellings that are unoccupied for over ½ the year. In essence this would be an additional tax on second homes.
STATUS: Failed the introduction vote. DEAD
Wyoming REALTOR® Position: OPPOSE
Sponsored By: Joint Revenue Interim Committee
AN ACT relating to property; amending requirements related to filing instruments related to the transfer of property; specifying exceptions to the filing requirements; making conforming changes; and providing for an effective date.
IMPACT: The bill requires a Statement of Consideration to be filed with EVERY deed recording. Buyers can still claim it to be an exempt sale, but the Statement will have the full contact information for the Buyer and Seller.
STATUS: Passed the Senate 29 – 0 – 1 excused. On to the House.
Wyoming REALTOR® Position: MONITOR
Sponsored By: Senator(s) Pappas, Landen, Nethercott and Schuler and Representative(s) Duncan and Zwonitzer
AN ACT relating to professions and occupations; clarifying regulations regarding appraisal management company license reinstatement; removing a probationary period for an appraiser panelist; and providing for an effective date.
IMPACT: Wyoming was one of the first States to adopt the federally mandated legislation on AMC’s. Since then the Federal requirements have changed. This bill updates our statutes so that we are in compliance, once again.
STATUS: Introduced and referred to the Senate Minerals Committee. No hearing date set.
Wyoming REALTOR® Position: SUPPORT
