Bulletin: WY2024001

Dear Associates:

The following are summaries of bills passed during the 2024 Wyoming legislative session which may be of interest to the title insurance industry. You can find more specific information relating to these bills at https://www.wyoleg.gov/Legislation/2024.

HB0003 Property tax exemption for long-term homeowners.
This bill creates a property exemption for long-term homeowners who are sixty-five (65) years of age or older and who have paid property tax in Wyoming for twenty-five (25) years. The amount of the property tax exemption is fifty percent (50%) of the assessed value of the residential real property that is used as a primary residence. The bill provides for a process for an owner to claim the exemption and provides definitions of "owner," "primary residence," and "residential real property." The bill is effective January 1, 2025, and has a sunset date of July 1, 2027.

HB0004 Property tax refund program.
The existing property tax refund program provides for a refund of a portion of property taxes paid by a person if the person's gross household income is not more than one hundred twenty-five percent (125%) of the median gross household income. This bill provides that a person whose gross household income is from one hundred twenty-six percent (126%) to one hundred forty-five percent (145%) of the median gross household income qualifies for sixty-five percent (65%) of the refund authorized under the existing program. The Governor vetoed the portion of the bill that specified that a person whose gross household income is from one hundred forty-six percent (146%) to one hundred sixty-five percent (165%) of the median gross household income would qualify for twenty-five percent (25%) of the refund authorized under the existing program. This bill was effective March 21, 2024.

HB0010 Allows current lessees of state lands to have a grace period to submit land lease renewal applications.
This bill requires the Director of the Office of State Lands and Investments to allow current lessees of state lands to have thirty (30) additional days past the expiration date of their existing lease to submit an application to renew the lease. The bill is effective July 1, 2024.

HB0045 Property tax exemption for residential structures and land.
This bill creates a property tax exemption for residential structures. The exemption is equal to any increase in the assessed value of residential property of more than four percent (4%) over the value of the residential structure in the prior year, including any reduction in the prior year value that was a result of the exemption. This exemption would first apply in tax year 2024. This bill also creates a property tax exemption for land associated with a residential structure. The exemption is equal to any increase in the assessed value of the property of more than four percent (4%) over the value of the land in the prior year, including any reduction in the prior year value that was a result of the exemption. This exemption would first apply in tax year 2025. The bill includes definitions of "single family residential structure" and "improved land associated with a single-family residential structure" and specifies instances when the exemptions would not apply. This bill was effective March 21, 2024.

HB0126 Childcare is a residential use of property.
This bill provides that childcare is a residential use of property and a residential purpose for the purposes of any restrictive covenant on residential property that does not clearly and expressly prohibit childcare. The bill limits its application to childcare of not more than ten (10) children on a regular basis. This bill is effective July 1, 2024.

SF0035 Public records - DOC investigations.
The Wyoming Public Records Act contains exceptions that allow a custodian of public records to deny the right of inspection of records, unless otherwise provided by law, on the ground that disclosure to the applicant would be contrary to the public interest. One exception, sometimes referred to as the investigatory "records exception, applies to records of investigations conducted by, or of intelligence information or security procedures of, any sheriff, county attorney, city attorney, the attorney general, the state auditor, police department or any investigatory files compiled for any other law enforcement or prosecution purposes." This act amends the investigatory records exception to include the Department of Corrections Investigation Services Unit, allowing a custodian to deny the right of inspection of records of investigations conducted by, or of intelligence information or security procedures of, the Department of Corrections Investigation Services Unit upon approval by the Attorney General. This bill is effective July 1, 2024.

SF0050 Decentralized unincorporated nonprofit associations.
This bill provides for the creation of decentralized unincorporated nonprofit associations. This type of organization is an unincorporated nonprofit that allows for governance and operation using algorithmic means through distributed ledger technology and smart contracts. This bill establishes baseline requirements for decentralized unincorporated nonprofit associations and provides definitions and regulations for governing authority, statements of authority, smart contracts, management, standards of conduct, membership interests, voting rights, liability, the withdrawal of members, dissolution, conversion, and mergers. This bill is effective July 1, 2024.

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