Bill > H0309

This bill creates a new voluntary tax checkoff option for Vermont income taxpayers to contribute directly to the Vermont Housing and Conservation Trust Fund through their annual tax returns. Specifically, the bill requires the Vermont Department of Taxes to include a designated space on tax forms that allows individual taxpayers to voluntarily contribute funds to this trust fund. If a taxpayer chooses to contribute, the amount will be deducted from their tax refund or added to their overpayment. The Commissioner of Taxes is required to explain the purpose of the fund to taxpayers and provide information about how to contribute. The bill stipulates that if a taxpayer's tax payment is insufficient to cover both their tax liability and their designated contribution, the payment will first be applied to taxes owed, with any remaining balance going to the trust fund. The new tax checkoff option will take effect on January 1, 2025, and will apply to taxable years beginning on or after that date. The Housing and Conservation Trust Fund, established under 10 V.S.A. § 312, supports affordable housing and land conservation efforts in Vermont.

Budget and Finance

https://legislature.vermont.gov/bill/status/2026/H.309