state revenues

Wyoming Legislature

State Representative Mike Madden and the joint revenue committee will be busy next week. They have a number of issues from local government funding to how to pay for school construction that they need to address. With the recent revenue projections, the committee will need to see if there are new ways to pay for such things. One idea could even be a property tax. Madden, who chairs the House Revenue Committee talks with Bob Beck. 

As they await an updated report on Wyoming’s revenue forecast, Republican legislative leaders are becoming more concerned about a downturn in energy prices. During a news conference following the governor’s state of the state message, Senate President Phil Nicholas says it’s time for the state to prepare for a long term reduction in mineral money. Oil and other commodity prices have fallen and Nicholas doubts those prices will rebound anytime soon.

Wyoming’s Consensus Revenue Estimating Group says there is good news and bad news with this year’s revenue forecast.  General fund revenue is forecast to increase by over 37 million dollars. CREG Co-Chairman Dan Noble says the forecast looks good for sales and use tax and other things.

“Mineral valuations for oil are excellent, we are actually projecting around a 14 and a half percent increase in oil. Gas is continuing to climb as it relates to production, pricing is pretty stable. Coal, we are down from 400-million tons to 380-million tons.”

Wyoming Public Radio’s Irina Zhorov caught up with Governor Matt Mead to check in about some big changes in the state in the coming months. Her first question was about the Environmental Protection Agency’s report on contaminated water in Pavillion and the state’s takeover of the study.

Though the entities involved in the study have previously expressed skepticism over the EPA’s findings, Governor Mead says he has no doubts that the state’s study will be unbiased.