minerals

Bighorn sheep
Magnus Kjaergaard via Creative Commons Attribution 3.0 Unported license

Federal mineral leasing has increased under Interior Secretary Ryan Zinke. But it looks like he has a soft spot for bighorn sheep. Last week, the Department of Interior announced plans to renew a mineral withdrawal for the Whiskey Mountain Bighorn Sheep. A mineral withdrawal limits mining activity.

Digest For SF-98
Wyoming Legislative Service Office

Proposed legislation passed introduction in the State Senate last Friday that would cut the severance tax rate in half for petroleum and natural gas companies for a certain period of time. The reduction from 6 percent to 3 percent would take place during the project's third year until the end of its fourth. 

Pinedale, WY at sundown with a rig in the background
Cooper McKim / Wyoming Public Radio

When you look past the light brown brick courthouse in downtown Pinedale, there are rolling hills dotted with sage brush and thin dark shapes in the distance. Those are oil and gas rigs. They are the largest contributor to revenue out here, but sometimes, when those companies that own those rigs remove resources from the ground, they don’t follow through on paying a key tax to the county. 

POWDER RIVER BASIN RESOURCE COUNCIL

Mineral extraction companies owe Wyoming counties more than $42 million in back taxes, fees, and penalties, according to a new report from the Powder River Basin Resource Council. The publication looked at 12 counties in Wyoming from 2006 to 2016.

Wyoming lawmakers met in Cody this week to continue their work updating the state’s school funding model. School funding is updated every five years in a process called recalibration. 

Members of the legislature’s Select Committee on School Finance Recalibration spent much of this week’s meeting discussing teacher salaries.

Senator Chris Rothfuss of Laramie says lawmakers were presented data showing that Wyoming teacher pay remains above average.

Governor Matt Mead and a handful of Wyoming legislators are excited about an idea that they hope will create more jobs in the state and finally do something locally with the minerals and other sources of energy that the state harvests.  Wyoming Public Radio’s Bob Beck reports.

Wyoming lawmakers are concerned with a provision in the bipartisan budget agreement that would cost the state money for mineral development.

Wyoming stands to lose around twenty million dollars annually from the budget deal that overwhelmingly passed the House. It includes a provision that makes permanent a law that charges states like Wyoming for costs associated with their mineral leases. The state hasn’t received that money since 2008, but Republican Congresswoman Cynthia Lummis and other officials thought that was just temporary. 

The Legislature’s Revenue Committee strongly supported a bill Tuesday that would lower interest rates on unpaid mineral taxes.

Currently, if a state audit finds that companies have incorrectly reported their production, counties can levy interest of up to 18 percent on back taxes.

The bill changes that, pegging interest to current rates, with a minimum of 12 percent and a maximum of 18 percent. Interest rates for companies that discover the discrepancy on their own would remain the same – at 18 percent.