Industrial revenue bonds-PILOT payments.

HB 22 modifies Wyoming's tax exemption rules for industrial development projects. It requires developers of new industrial projects (initiated on or after July 1, 2022) to pay an annual fee instead of property taxes during the bond term. This fee must fully compensate state and local governments for 50% of the ad valorem taxes they would have collected. The fee is distributed to counties and other government entities in the same way as regular property tax revenue.