2002

State of Wyoming

02LSO-0247.W2

 

 

 

WORKING DRAFT

 

 

 

HOUSE BILL NO.      

 

 

Sales & use tax increase-school foundation program.

 

Sponsored by:

 

 

A BILL

 

for

 

AN ACT relating to taxation and revenue; increasing the sales and use tax as specified; providing for deposit of revenues from the tax into the school foundation program account; and providing for an effective date.

 

Be It Enacted by the Legislature of the State of Wyoming:

 

Section 1.  W.S. 39-15-104 by creating a new subsection (g), 39-15-111(b)(intro) and by creating a new subsection (p), 39-16-104 by creating a new subsection (f) and 39-16-111(b)(intro) and by creating a new subsection (p) are amended to read:

 

39-15-104.  Taxation rate.

 

     (g)  In addition to the other taxes imposed by this section, there is imposed an additional sales tax of one percent (1%) upon all events as provided by W.S. 39-15-103(a).

 

39-15-111.  Distribution.

 

(b)  Revenues earned under W.S. 39-15-104 during each fiscal year shall be recognized as revenue during that fiscal year for accounting purposes. Except as otherwise provided by this section, revenue collected by the department under W.S. 39-15-104 shall be transferred to the state treasurer who shall:

 

(p)  The revenue received from the sales tax imposed by W.S. 39-15-104(g) shall be deposited solely into the public school foundation program account created by W.S. 21-13-306.

 

39-16-104.  Taxation rate.

 

(f)  In addition to the other taxes imposed by this section, there is imposed an additional use tax of one percent (1%) which shall be administered as if the use tax rates under subsections (a) and (b) of this section were increased by one percent (1%).

 

39-16-111.  Distribution.

 

(b)  Revenues earned under this article during each fiscal year shall be recognized as revenue during that fiscal year for accounting purposes.  Except as otherwise provided by this section, revenue collected by the department from the taxes imposed by this article shall be transferred to the state treasurer who shall:

 

(p)  The revenue received from the sales tax imposed by W.S. 39-16-104(f) shall be deposited solely into the public school foundation program account created by W.S. 21-13-306.

 

Section 2.  This act is effective July 1, 2002.

 

(END)