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2006 Budget Session
HB 123 expanded the eligibility requirements of a current state program that provides a tax refund to elderly and disabled Wyoming residents.
Residents who are 65 years of age or older or who are 18 years of age and totally disabled qualify for this program, if they meet income and resource criteria as well. Current statutes specify that an elderly or disabled person whose annual income is less than $6,000 and who owns resources of less than $4,500 may receive a refund of $500. If the person's income is between $6,000 and $10,000, their refund will be $500 less the percentage that the income exceeds $6,000.
For married couples, at least one person must be at least 65 years old or totally disabled, and their income may not exceed $14,000. If their income is less than $8,000, they will receive a $600 refund. If their income is more than $8,000 but less than $14,000, they will receive $600 less the percentage that the income exceeds $8,000.
Finally, an applicant who owns resources with an equity value of more than $4,500 will not qualify for a refund. A single $100,000 equity value of combined property, including residence, personal property and one automobile, is exempt from this resource limit.
HB 123 increased the income criteria as follows. For single applicants, the eligible income limit increased to $13,500 (full refund at $8,000) and the refund increased from $500 to $800. For married couples, the eligible income limit increased up to $22,000 (full refund at $12,500) and the refund increased from $600 to $900.
HB 123 increased the resource criteria from a maximum equity value of $6,000, and increased the permitted single combined property equity value from $100,000 to $130,000.
HB 123 appropriated $7.5 million from the general fund to pay for the expanded tax refund program.
Supporters noted that the criteria increases in HB 123 are needed to keep pace with inflation, to provide an adequate level of refund assistance to elderly and disabled low-income residents.
There was no initial opposition to the bill, as it was introduced in the House by a unanimous vote.
The House unanimously passed HB 123 on third reading, and the Senate passed HB 123, 28-2. Senators Cale Case (R-S25, Lander) and John Schiffer (R-S22, Kaycee) cast the two NO votes.