Signed by Governor Dave Freudenthal

Vote Smart's Synopsis:

Vote to pass a bill that establishes an excise tax on electricity produced from wind resources for sale or trade on or after January 1, 2012 equal to $1 per megawatt hour, and specifies that such tax shall be the individual producing the electricity.

Highlights:

-Exempts the following from the wind-energy electricity tax (Sec. 1):

-Electricity produced by the federal government, state of Wyoming, or any county or municipality in the state; -Electricity produced for personal consumption of the producer; and -Electricity produced from a wind turbine within 3 years of the date the turbine first produced electricity.

-Requires the wind-energy electricity tax be paid annually on or before February 1 of the year immediately following the year in which the energy was produced (Sec. 1). -Establishes an annual interest rate for delinquent wind-energy electricity taxes equal to the average prime interest rate plus 4 percent, provided the interest rate not be less than 12 percent or greater than 18 percent (Sec. 1). -Requires the State Treasurer to determine the average prime interest rate for at least 75 percent of the 30 largest banks in the U.S., and requires such rate be annually adjusted on January 1, for the purpose of establishing the annual interest rate for delinquent wind-energy electricity taxes (Sec. 1). -Establishes a penalty for failing to make or file a return and remit the wind-energy electricity taxes due equal to 5 percent of the taxes due for each 30 day period, or fraction thereof, unless the Department of Revenue issues an extension to the individual for "good cause," in which the individual is then required to pay the applicable interest rate, provided the total penalty does not exceed 25 percent of the taxes due (Sec. 1). -Authorizes the Department of Revenue to waive the aforementioned penalty for any 1 calendar year if the following criteria are met (Sec. 1):

-The return was filed within 5 business days following the due date, including an approved extension period; and -The taxpayer requests the waiver in writing within 15 days after the return was filed, setting forth the reasons for the late filing.

-Establishes an additional penalty for a tax deficiency if it is due to negligence or intentional disregard of rules and regulations equal to 5 percent of the amount of the deficiency plus interest (Sec. 1). -Requires the revenue derived from the wind-energy electricity tax be distributed as follows (Sec. 1):

-60 percent for counties where the generating facility is located, and specifies that this amount shall be proportionately distributed to each county based on the percentage of the assessed value of the facilities within the county; and -40 percent for the General Fund.

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that establishes an excise tax on electricity produced from wind resources for sale or trade on or after January 1, 2012 equal to $1 per megawatt hour, and specifies that such tax shall be the individual producing the electricity.

Highlights:

-Exempts the following from the wind-energy electricity tax (Sec. 1):

-Electricity produced by the federal government, state of Wyoming, or any county or municipality in the state; -Electricity produced for personal consumption of the producer; and -Electricity produced from a wind turbine within 3 years of the date the turbine first produced electricity.

-Requires the wind-energy electricity tax be paid annually on or before February 1 of the year immediately following the year in which the energy was produced (Sec. 1). -Establishes an annual interest rate for delinquent wind-energy electricity taxes equal to the average prime interest rate plus 4 percent, provided the interest rate not be less than 12 percent or greater than 18 percent (Sec. 1). -Requires the State Treasurer to determine the average prime interest rate for at least 75 percent of the 30 largest banks in the U.S., and requires such rate be annually adjusted on January 1, for the purpose of establishing the annual interest rate for delinquent wind-energy electricity taxes (Sec. 1). -Establishes a penalty for failing to make or file a return and remit the wind-energy electricity taxes due equal to 5 percent of the taxes due for each 30 day period, or fraction thereof, unless the Department of Revenue issues an extension to the individual for "good cause," in which the individual is then required to pay the applicable interest rate, provided the total penalty does not exceed 25 percent of the taxes due (Sec. 1). -Authorizes the Department of Revenue to waive the aforementioned penalty for any 1 calendar year if the following criteria are met (Sec. 1):

-The return was filed within 5 business days following the due date, including an approved extension period; and -The taxpayer requests the waiver in writing within 15 days after the return was filed, setting forth the reasons for the late filing.

-Establishes an additional penalty for a tax deficiency if it is due to negligence or intentional disregard of rules and regulations equal to 5 percent of the amount of the deficiency plus interest (Sec. 1). -Requires the revenue derived from the wind-energy electricity tax be distributed as follows (Sec. 1):

-60 percent for counties where the generating facility is located, and specifies that this amount shall be proportionately distributed to each county based on the percentage of the assessed value of the facilities within the county; and -40 percent for the General Fund.

Full Bill Text