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VT H0164

Bill

Official Source

Status

Introduced

2/7/2025

Primary Sponsor

Edward Waszazak

Click for details

Origin

House of Representatives

2025-2026 Session

AI Summary

  • Increases the percentage of local option tax revenue distributed to municipalities from 70 percent to 80 percent

  • Requires any surplus in the PILOT (Payment in Lieu of Taxes) Special Fund to be appropriated proportionally to the municipalities that generated the surplus revenue

  • Directs the Joint Fiscal Office (JFO) to draft a report on transitioning to a system where the State retains only the amount needed to administer the PILOT Special Fund, eliminating future surpluses

Legislative Description

An act relating to the distribution of local option tax revenue and the PILOT Special Fund

Last Action

Read first time and referred to the Committee on Ways and Means

2/7/2025

Committee Referrals

Ways and Means2/7/2025

Full Bill Text

No bill text available