Tangible personal property-index and depreciation.

This bill requires Wyoming's Department of Revenue to establish specific valuation indexes and depreciation schedules for calculating ad valorem taxes on tangible personal property (such as business equipment, vehicles, or furniture). It mandates that property be valued using these rules, with a key provision preventing depreciation methods from increasing the value of fully depreciated property above 20% of its original acquisition cost (the "depreciation floor"). The policy directly affects businesses and organizations owning tangible property subject to state property taxes by changing how their taxable value is determined. The Department must create implementing rules, and the changes take effect January 1, 2026.