(Fremont County, WY) – A proposed fuel tax increase is slated to go before the 2021 Wyoming Legislature and according to the Legislative Service Office, it could generate over $60M in annual revenue for the state.
Proposed House Bill 26, sponsored by the Joint Revenue Interim Committee, would increase the fuel tax by $.09 per gallon of gasoline, diesel fuel, and alternative fuel. Raising the current fuel tax from $.24 to $.33 per gallon.
If passed, a “comparable increases in the tax distributions on fuel used in snowmobiles, motorboats and off-road recreational vehicles” would also be implemented, according to LSO.
The estimated annual revenue from this bill would be distributed to the following funds:
- Highway Fund – $40.24M
- County Road Funds – $14.15M
- Cities and Towns Street & Alley – $5.91M
- Special Revenue – State Parks – $1.17M
The above estimates are based on a 5-year average of motor fuel collections (FY16-FY20), according to LSO.
If passed, this price jump at the pump would be effective on July 1st, 2021.
You can read the entire bill here.