VT H0933

Repeals the denial of tax credits for S corporations paying taxes in other states and imposes a 3.4% property transfer tax on year-round residential properties not used as principal residences or rentals

Raises the Vermont estate tax filing threshold from $2,750,000 to $5,000,000 and increases the Down Payment Assistance Program tax credit allocation to $350,000 annually for FY2027-2031

Designates the General Assembly as the sole entity authorized to elect Vermont's participation in the federal scholarship granting organization tax credit program under 26 U.S.C. § 25F, and declines participation

Changes the grand list assessment date from April 1 to January 1 (effective July 1, 2031), extends the Health IT Fund sunset to 2031, and updates the inflation index reference from New England Economic Project to NIPA implicit price deflator

Decouples Vermont from federal bonus depreciation (Section 168(k)), Section 1202 qualified small business stock exclusions, Section 250 FDII/GILTI deductions, and Section 174A R&D amortization requirements while increasing the state R&D tax credit from 27% to 75% of the federal credit