Updates from the Legislature

Greetings from Cheyenne! Last Friday, January 18, Senator Driskill and I traveled to China to represent Wyoming at a technology conference and arrived back in Cheyenne on Tuesday evening. I have never traveled internationally, besides my time in the US Navy, and I cannot recommend that quick of a turnaround.

The Global Blockchain Summit in China was a resounding success. By the time Senator Driskill and I left the summit, everyone in attendance was talking about Wyoming.

The efforts of the Legislature, the Wyoming Blockchain Task Force and the Business Council are paying off. I think it is also important to note that the conference sponsored us as speakers at the event, and it did not cost Wyoming anything for us to attend.

I have introduced seven bills so far. Two of my bills, HB0055 and HB0098, have passed the House and have been received by the Senate for introduction.

One bill in the House that is gaining a great deal of attention is HB0220 – the National Retail Fairness Act. This bill aims to impose a levy on the net income of large, out-of-state corporations, ultimately re-directing taxes currently being sent out of state back to Wyoming.

Wyoming does not collect any corporate taxes and due to that, revenue from items purchased in Wyoming are being sent to Arkansas and Colorado.

Wyoming residents are already paying their share of these businesses’ nationwide tax burden hidden within the prices they pay. This means the profits companies are making in Wyoming are being taxed to pay for roads in Arkansas or pay teachers in Hawaii. HB 220 will allow Wyoming to claim its portion of those taxes for the benefit of Wyoming.

Conservative estimates believe HB 220 will raise about $45,000,000 for K-12 education without impacting Wyoming families or small businesses.

Another piece of legislation I want to explain is HB 74 Special Purpose Depository Banks. This piece allows for a new type of banking institution to be chartered in Wyoming.

Why do we need a new type of bank? This stems from action taken during the Obama administration called Operation Choke Point, where the Department of Justice and FDIC arbitrarily raised the security risk of legal business in the United States.

They primarily targeted firearm dealers, gun manufacturers, blockchain companies, payday lenders and other companies. This caused banks to close accounts on these entities throughout the US.

Thankfully Operation Choke Point was ended in 2017, and in this instance the weaponizing of government to meet ideological beliefs was put to an end by the Trump administration.

Will that always be the case though? I do not believe so and that is why I am one of the principal architects of this new banking legislation to help ensure that the Federal government cannot arbitrarily enforce its agenda on Wyoming business.

This legislation does not mandate FDIC insurance on this new type of bank, but instead takes into consideration private insurance all while maintaining a 100 percent reserve requirement. Essentially, a non-lending institution.

To date, the House has filed 264 bills for consideration as well as 10 House Joint Resolutions. Tuesday, January 29 is the last day bills can be filed. It is likely that more than 300 pieces of legislation will be filed for consideration in the House.

Bills I have introduced:

HB0015 – Motor vehicles-titles and bills of sale. Placed on General File.

HB0055 – Transport of mobile homes-copy of title. Passed by the House and sent to Senate.

HB0097 – Taxation of broadband internet infrastructure. Referred to the House Appropriations Committee for consideration.

HB0098 – Rights of way-communications services. Passed by the House and sent to Senate.

HB0179 – Food Trucks. Referred to the House Corporations Committee for consideration.

HB0234 – Marihuana reform. Received for Introduction.

HJ0003 – Supreme court justices-senate confirmation. Received for Introduction.

If you have any questions or concerns, please do not hesitate to contact me at 307-282-0968 or email me at [email protected]. You can also find updates about my work on my Facebook page, http://www.facebook.com/Tyler4HD1.

Sincerely,

Representative Tyler Lindholm

House District #1