VT H0620

Creates a four-member Wealth Tax Commission composed of one House member, one Senate member, the Commissioner of Financial Regulation, and the Commissioner of Taxes (or their designees)

Directs the commission to study taxation of wealth and investment gains that currently escape income taxation, including implementation issues such as residency criteria, valuation of nonpublic assets, treatment of losses, and accommodations for asset-rich but cash-poor taxpayers like farmers

Requires coordination with other states through the Multistate Tax Commission, legislators from other states, and academic experts to explore uniform approaches and interstate compacts for wealth taxation

Appropriates $125,000 from the General Fund to the Joint Fiscal Office in FY2027 to contract with a facilitator and support commission operations for up to 12 meetings

Report due to House Ways and Means and Senate Finance committees by November 1, 2027; commission sunsets July 1, 2028