Administrative Rule Review Report: #AR11-066
Legislative Service Office
22-Nov-11
AGENCY: Wyoming Business Council
DATE SUBMITTED: 11/22/2011
SUBJECT: Chapter 2, Wyoming Small Business Credit Program Fee Schedule
NATURE OF RULES: Statutory.
STATUTORY AUTHORITY: W.S. 9-12-104(a)(iv); 9-12-1308(b)
DETERMINATION OF PROCEDURAL COMPLIANCE BASED UPON INFORMATION
SUBMITTED BY THE AGENCY TO LSO: Apparently complete to date.
SUMMARY OF RULES:
These rules amend Chapter 2 of the rules and regulations of the Wyoming Small Business Investment Credit Program. The rules increase the annual certification fee under the Program for Wyoming small business investment credit companies from $102,000 to $114,405.
By way of background, the Wyoming Small Business Investment Credit Program was created in 2010. The Program provides a credit against any state premium tax liability up to one hundred percent (100%) of the participating investor's investment of designated capital in a Wyoming small business investment company (W.S. 9-12-1305).
FINDINGS: The rules appear to be within the scope of statutory authority and legislative intent.
STAFF RECOMMENDATION: That the rules be placed on the Consent List and be approved by the Council as submitted by the Agency.
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Matthew D. Obrecht
Staff Attorney
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Gerald W. Laska
Staff Attorney
MDO/cj