Budget(s): Additions to 300 Sections
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Page 131-After line 18 Insert the following new sections and renumber as necessary:
"[MINERAL SEVERANCE TAX DIVERSION]
Section 329. W.S. 39-14-801(b) is amended to read:
39-14-801. Severance tax distributions; distribution account created; formula.
Before making distributions from the severance tax distribution account
under subsections (c) through (e) of this section, an amount equal to
two-thirds (2/3) of the amount of tax collected under W.S. 39-14-104(a)(i) and
(b)(i) and 39-14-204(a)(i) for the same period shall be deposited into the
permanent Wyoming mineral trust fund except that for
the fiscal year 2010 years 2013 and 2014 these funds shall be deposited
(i) Fifty percent (50%) to the permanent Wyoming mineral trust fund; and
Fifty percent (50%) to the
mineral trust fund reserve account created by W.S. 9-4-719(b) legislative stabilization reserve account.
[PERMANENT WYOMING MINERAL TRUST FUND RESERVE ACCOUNT]
(a) For the fiscal years ending on June 30, 2012 and June 30, 2013, funds which would be deposited into the permanent Wyoming mineral trust fund from the permanent Wyoming mineral trust fund reserve account pursuant to W.S. 9-4-719(b) shall not be deposited to the permanent fund but shall be deposited to the legislative stabilization reserve account on each of the specified dates.
(b) This section is effective immediately.".
To the extent required by this amendment: adjust totals; and renumber as necessary. THRONE, MADDEN