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Bill > H0164

VT H0164

VT H0164
An act relating to the distribution of local option tax revenue and the PILOT Special Fund

summary

Introduced
02/07/2025
In Committee
02/07/2025
Crossed Over
Passed
Dead

Introduced Session

2025-2026 Session

Bill Summary

This bill proposes to change the percentage of local option tax revenue distributed to a municipality from 70 percent to 80 percent and to appropriate any surplus in the PILOT Special Fund proportionally to the municipalities that generated revenue for the surplus. The bill proposes to direct JFO to draft a report on moving to a system whereby the State retains only what it needs to administer the PILOT Special Fund without generating a future surplus.

AI Summary

This bill proposes changes to the distribution of local option tax revenue and the Payment in Lieu of Taxes (PILOT) Special Fund. Specifically, the bill increases the percentage of local option tax revenue distributed to municipalities from 70 percent to 80 percent, which means local governments will receive a larger share of the tax revenue generated in their jurisdictions. Additionally, the bill mandates that any surplus in the PILOT Special Fund—which is a fund that provides financial compensation to municipalities for tax-exempt properties owned by the state or other entities—will be proportionally redistributed to the municipalities that originally generated the revenue. The bill also instructs the Joint Fiscal Office (JFO) to prepare a report exploring a new administrative approach for the PILOT Special Fund, with the goal of having the state retain only the amount necessary to manage the fund without creating unnecessary future surpluses. These changes aim to provide more financial resources and transparency for local municipalities.

Committee Categories

Budget and Finance

Sponsors (59)

Edward Waszazak (D)*,  Angela Arsenault (D),  Sarita Austin (D),  Doug Bishop (D),  Tiff Bluemle (D),  David Bosch (R),  Michael Boutin (R),  Erin Brady (D),  Tom Burditt (R),  Mollie Burke (D),  Bridget Burkhardt (D),  Emily Carris-Duncan (D),  Conor Casey (D),  Kevin Christie (D),  Brian Cina (D),  Esme Cole (D),  Wendy Critchlow (D),  Lynn Dickinson (R),  Leonora Dodge (D),  Anne Donahue (I),  Abbey Duke (D),  Gina Galfetti (R),  Ian Goodnow (D),  Kenneth Goslant (R),  James Harrison (R),  Troy Headrick (D),  Bob Hooper (D),  Mary Howard (D),  Christopher Howland (R),  Robert Hunter (D),  Kathleen James (D),  Chris Keyser (R),  Charlie Kimbell (D),  Bram Kleppner (D),  Emilie Krasnow (D),  Kate Lalley (D),  Jed Lipsky (I),  Kate Logan (D),  Joseph Luneau (R),  Eric Maguire (R),  Kate McCann (D),  Jubilee McGill (D),  Brian Minier (D),  Mike Morgan (R),  Christopher Morrow (D),  Todd Nielsen (R),  Kate Nugent (D),  Carol Ode (D),  Joseph Parsons (R),  Gayle Pezzo (D),  Monique Priestley (D),  Barbara Rachelson (D),  Laura Sibilia (I),  Tom Stevens (D),  Shawn Sweeney (D),  Chloe Tomlinson (D),  Casey Toof (R),  Dara Torre (D),  Theresa Wood (D), 

Last Action

Read first time and referred to the Committee on Ways and Means (on 02/07/2025)

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