2023 Wyoming Statutes › Title 39 - Taxation and Revenue › Chapter 14 - Mine Product Taxes › Article 8 - Severance Tax Distributions › Section 39-14-801 - Severance Tax Distributions; Distribution Account Created; Formula.

39-14-801. Severance tax distributions; distribution account created; formula.
(a) There is created the severance tax distribution account into which shall be credited revenues from severance taxes as provided by law. Interest on earnings from funds in the account shall be credited to the general fund.
(b) Before making distributions from the severance tax distribution account under subsections (c) through (e) of this section, an amount equal to two-thirds (2/3) of the amount of tax collected under W.S. 39-14-104(a)(i) and (b)(i) and 39-14-204(a)(i) for the same period shall be deposited as follows:
(i) Repealed by Laws 2021, ch. 144, 3.
(ii) Repealed by Laws 2021, ch. 144, 3.
(iii) Repealed by Laws 2021, ch. 144, 3.
(iv) For fiscal years 2021 and 2022, these funds shall be deposited to the one percent severance tax account;
(v) For fiscal year 2023 through fiscal year 2028 these funds shall be deposited equally to the permanent Wyoming mineral trust fund and to the common school account within the permanent land fund;
(vi) For fiscal year 2029 and thereafter these funds shall be deposited two-thirds (2/3) to the permanent Wyoming mineral trust fund and one-third (1/3) to the common school account within the permanent land fund.
(c) [LUST] Before making distributions from the severance tax distribution account under subsections (d) and (e) of this section, an amount equal to the amount of tax collected under W.S. 39-17-104(a)(iii) and 39-17-204(a)(ii) for the same period shall be distributed to the corrective action account created by W.S. 35-11-1424 and to the financial responsibility account created by W.S. 35-11-1427 in an inverse proportion to the amount in the two (2) accounts.
(d) After making distributions pursuant to subsections (b), (c), (f) and (j) of this section, distributions under subsection (e) of this section shall be made from the severance tax distribution account. The amount of distributions under subsection (e) of this section shall not exceed one hundred fifty-five million dollars ($155,000,000.00) in any fiscal year. To the extent that distributions under subsection (e) of this section would exceed that amount in any fiscal year, except as provided in subsections (g), (h) and (k) of this section, the excess shall be credited:
(i) One-third (1/3) to the general fund; and
(ii) Two-thirds (2/3) to the budget reserve account.
(e) Deposits into the account created by subsection (a) of this section shall be distributed as follows, subject to subsections (b) through (d) and (f) of this section:
(i) To the general fund, sixty-two and twenty-six hundredths percent (62.26%);
(ii) To water development account I under W.S. 41-2-124(a)(i), twelve and forty-five hundredths percent (12.45%);
(iii) To water development account II under W.S. 41-2-124(a)(ii), two and one tenth percent (2.1%);
(iv) To the highway fund, except for the fiscal years commencing July 1, 2016 and July 1, 2017, four and thirty-three hundredths percent (4.33%), except that if the total unencumbered revenues within the state park road account created by W.S. 24-14-102 are less than five hundred thousand dollars ($500,000.00) on July 1, 2001 or on July 1 of any even-numbered year thereafter, the state treasurer shall first distribute revenues to that account in an amount equal to five hundred thousand dollars ($500,000.00) less the total unencumbered revenues in the account on July 1 of that year. For the fiscal years commencing July 1, 2016 and July 1, 2017 funds under this paragraph shall be distributed to the general fund;
(v) To counties, seventy-eight hundredths percent (0.78%), subject to the following formula:
(A) Fifty percent (50%) of the funds distributed under this paragraph shall be distributed to the counties in the same proportion that the population of the county bears to the population of the state; and
(B) Fifty percent (50%) of the funds distributed under this paragraph shall be distributed to the counties based upon the inverse of the assessed valuation of each county as computed under subparagraph (vii)(C) of this subsection.
(vi) To counties, three and one-tenth percent (3.1%), each county to receive an amount in the proportion which the population of the county bears to total state population;
(vii) To the road construction and maintenance funds of the various counties as provided by W.S. 24-2-110, two and nine-tenths percent (2.9%), except that each county's share of funds under this subsection shall be computed as follows:
(A) One-third (1/3) shall be distributed to each county in the ratio that the population of the county bears to total state population;
(B) One-third (1/3) shall be distributed to each county in the ratio that the mileage of county roads in the county bears to total county roads in Wyoming;
(C) One-third (1/3) shall be distributed to each county as follows:
(I) Arrange the assessed valuation of each county in descending order by county;
(II) Calculate the county percentages of assessed valuation relative to total state valuation;
(III) Calculate the inverse of the county percentage of total state assessed valuation by dividing one (1) by the percentage computed in subdivision (C)(II) of this paragraph;
(IV) Compute each county share by dividing each inverse calculated under subdivision (III) of this subparagraph by the total sum of the inverses calculated under subdivision (III) of this subparagraph.
(viii) To cities and towns, nine and twenty-five hundredths percent (9.25%), each city or town to receive an amount in the proportion which the population of the city or town bears to the population of all cities and towns in Wyoming;
(ix) To the capital construction account, two and thirty-three hundredths percent (2.33%), to be expended for the purposes specified in W.S. 9-4-604(k)(ii);
(x) To the water development account III, five-tenths of one percent (.5%), to be expended for the purposes specified in W.S. 41-2-124(d).
(f) Funds subject to subsection (b) of this section shall be deposited in accordance with that subsection unless specified otherwise by enactment of a general appropriations bill for state government as determined by the legislature to be necessary to alleviate a budget shortfall or structural budget deficit as defined by W.S. 9-2-1002, or to provide appropriations to maintain services as determined by the legislature.
(g) For fiscal year 2019, when distributions under paragraph (d)(ii) of this section equal one hundred thirty-seven million dollars ($137,000,000.00) additional funds that would otherwise be distributed under paragraphs (d)(i) and (ii) of this section shall be credited to the school foundation program reserve account and the budget reserve account in equal amounts until credits to the school foundation program reserve account for the fiscal year reach fifty million dollars ($50,000,000.00). If there are undistributed funds in the severance tax distribution account and the conditions of this subsection have been met, the excess shall be credited as follows:
(i) One-third (1/3) to the general fund; and
(ii) Two-thirds (2/3) to the budget reserve account.
(h) For fiscal year 2021, when distributions under paragraph (d)(ii) of this section equal one hundred thirty-one million eight hundred thousand dollars ($131,800,000.00) and for fiscal year 2022, when distributions under paragraph (d)(ii) of this section equal one hundred forty million seven hundred thousand dollars ($140,700,000.00), additional funds that would otherwise be distributed under paragraphs (d)(i) and (ii) of this section shall be credited to the school foundation program reserve account and the budget reserve account in equal amounts until the amount credited to the school foundation program reserve account under this subsection for the fiscal year reach fifty million dollars ($50,000,000.00). If there are undistributed funds in the severance tax distribution account and the conditions of this subsection have been met, the excess shall be credited as follows:
(i) One-third (1/3) to the general fund; and
(ii) Two-thirds (2/3) to the budget reserve account.
(j) The state treasurer shall withhold from any payment due to a city or county under this section an amount equal to any delinquent payment owed by a city or county under W.S. 15-5-203(h). The withheld amount shall be deposited to the legislative stabilization reserve account and credited against the delinquent entity's unpaid loan amount.
(k) For fiscal year 2023, when distributions under paragraph (d)(ii) of this section equal one hundred fifteen million five hundred thousand dollars ($115,500,000.00) and for fiscal year 2024, when distributions under paragraph (d)(ii) of this section equal one hundred two million two hundred thousand dollars ($102,200,000.00), additional funds that would otherwise be distributed under paragraphs (d)(i) and (ii) of this section shall be credited as follows:
(i) One-third (1/3) to the general fund;
(ii) One-third (1/3) to the budget reserve account; and
(iii) One-third (1/3) to the school foundation program reserve account.