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LEGISLATIVE UPDATE April 6 - 7
FINAL RECAP
The 66th Legislature met Tuesday, April 6 - Wednesday, April 7 to wrap up the 2021 General Session with Joint Conference Committees. The following bills have crossed the finish line and signed by the Governor:
The following are awaiting the Governor's approval and signature:
SUPPLEMENTAL BUDGET
Due to the pending $1.9 trillion American Rescue Plan Act (ARPA) funding, consensus was drawn quickly between the Senate (26-3-1-0-0) and House (57-4-1-0-0) on the Joint Conference Committee report for the FY 2021 - 2022 Supplemental Budget. The final signed version HEA No. 0045, stayed very close to the Governor's original recommendations of about 15% or $430 million in cuts to the General Fund and elimination of 324 predominantly vacant positions. Funding of $8 million was restored to University of Wyoming and Community Colleges to support the Governor's Wyoming Innovation Network initiative. The net, reduced appropriations in the 2021 Budget Bill for the 2021-2022 fiscal biennium total $301.6 million. See the April 7 UPDATED Fiscal Profile here. The final figures will not be available for a few weeks as it will include other bills with appropriations some of which are still pending action from the Governor.
The Governor did exercise about half dozen vetoes which are explained in his budget letter here. View the differences between the Joint Appropriations Committee and the Governor's Recommendations in the FY 2021-2022 Biennial Budget Background here.
SCHOOL FOUNDATION PROGRAM
The ARPA was also accounted for in the final version of HB 0173 School finance funding - 2 as it passed the Senate (22-5-3-0-0) heavily amended. However in Joint Conference Committee the Senate and the House were unable to reach a consensus and that bill has FAILED. The School Foundation Program received NO reductions and will receive full state funding plus another $303 in ARPA funds. The SFP structural deficit remains approximately $300 million a year.
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INTERIM TOPICS 2021
Interim topics will be finalized and assigned at the Friday, April 16th Management Council meeting to be held at 8:30 am in the Historic Supreme Court Chamber, State Capitol Room E202 or watch online here. View WTA suggestions here of interim topics provided to Leadership, Joint Revenue Committee and Joint Appropriations Committee.
TENTATIVE INTERIM TOPICS BY COMMITTEE
Tentative Interim Topics by Committee with revenue impacts:
WTA will keep you informed as things change rapidly in the future. Stay tuned for for the most up to date action taken by the Legislature with Action Alerts or a recap in May as The Tax Roundup resumes.
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66th LEGISLATURE'S 2021 GENERAL SESSION SCHEDULE & RESOURCES
The 66th Legislature reconvened March 1st to complete the 2021 General Session. The full 2021 General Session Schedule can be viewed here. Other resources for the 2021 General Session can be found here:
Consensus Revenue Estimating Group Report - January 2021
Additional resources are available on the wyotax.org website. Continue to check back for updated materials and watch the Latest News.
Please contact ashley@wyotax.org or call our office 307-635-8761 if you have questions or would like to discuss further.
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WTA takes positions based on a Cornerstones Analysis as presented to the WTA Legislative Policy Committee and then recommended to the Executive Committee and WTA Board of Directors respectively. The WTA Board of Directors have taken the following positions:
OPPOSE
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SAVE THE DATE!
Wyoming Update - America Rescue Plan Funding
Tuesday, April 20, 2021
9am - 11am MDT
*EMAIL dani@wyotax.org to register
Please join us for a presentation from Jared Walczak of the Tax Foundation as he breaks down the America Rescue Plan Act (ARPA) funding for the state of Wyoming. This interactive webinar will discuss the state's tax implications of the federal relief package, (ARPA), and outline the State of Wyoming's options. Additionally, Walczak will drill down on the interactions between the federal response and state tax revenues. Q&A will follow the presentation.
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STATE TAX POLICY BOOT CAMP
Tax Foundation is launching a free virtual "boot camp" for lawmakers, legislative staff, policy analysts and others interested in state tax policy. Tax Policy 101 will focus on major tax categories such as individual and corporate income taxes, sales and excise taxes, property taxes, unemployment insurance taxes, and severance taxes. The last four sessions will tackle (1) the taxation and tax challenges of remote work; (2) excise taxation on new and existing markets, including marijuana, sports betting, vapor, and cigarettes; (3) new issues in state taxation, i.e. wealth taxes, digital advertising taxes, and excess compensation taxes; and (4) tax policy and the economic recovery. Two additional sessions were added - New Issues in State Taxation and Tax Policy and the Economic Recovery. Click here to view the recorded sessions:
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FOLLOW US TO STAY UP TO DATE
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