Bill No.: HB0123 Drafter: DKG

LSO No.: 06LSO-0420 Effective Date:

Enrolled Act No.: HEA0015

Chapter No.: 80

Prime Sponsor: Task Force on Utility and Tax Relief

Catch Title: Tax refund to elderly and disabled.

Subject: Increasing eligibility and refunds in the tax refund to the elderly and disabled program.

Summary/Major Elements:

· Current law provides a tax refund to Wyoming residents who are 65 or older or 18 or older and totally disabled for the one year period prior to applying for the refund. The program contains income and resource limitations for eligibility.

· This bill modifies those eligibility provisions as follows:

o Single person's maximum income raised from $10,000 to $13,500;

o Married maximum income raised from $14,000 to $22,000;

o Resource limitation raised from $4,500 to $6,000 and the property exempt in determining resource maximums is raised from $100,000 to $130,000.

· The amount of the maximum refund is also raised as follows:

o Single persons – from $500 to $800;

o Married couples – from $600 to $900.

· Finally the amount of the maximum refund is currently reduced based upon a "floor" income and then a sliding scale. This bill raises those floors as follows:

o Single persons – from $6,000 to $8,000;

o Married couples – from $8,000 to $12,500.

· Contains an appropriation of $7,500,000.

Comments:

· Popular name – Tax refund to the elderly and disabled.