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VT H0309
Bill
Status
2/21/2025
Primary Sponsor
Kate Logan
Click for details
AI Summary
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Creates a voluntary checkoff option on Vermont individual income tax returns allowing taxpayers to donate to the Vermont Housing and Conservation Trust Fund (established under 10 V.S.A. § 312)
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Contributions are deducted from taxpayer refunds or overpayments and deposited by the Commissioner of Taxes into an account for transfer to the Fund
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Tax obligations take priority over donations—if a payment is insufficient to cover both taxes owed and the designated contribution, taxes are paid first with any remainder going to the Fund
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Requires the Commissioner of Taxes to explain the purpose of the Fund and contribution process to taxpayers
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Takes effect January 1, 2025, applying to taxable years beginning on and after that date
Legislative Description
An act relating to creating a Housing and Conservation Trust Fund checkoff on the Vermont personal income tax return
Last Action
Read first time and referred to the Committee on Ways and Means
2/21/2025