Bill
Bill > H0678
VT H0678
VT H0678An act relating to the creation of a housing pilot program in Washington and Lamoille Counties
summary
Introduced
01/14/2026
01/14/2026
In Committee
01/14/2026
01/14/2026
Crossed Over
Passed
Dead
Introduced Session
2025-2026 Session
Bill Summary
This bill proposes to create a pilot program to finance the construction of 250 dwelling units within Washington and Lamoille Counties using municipal debt backed by 100 percent of any municipal or education property tax increment with the goal to make homeownership more affordable or lower rental costs for new development.
AI Summary
This bill establishes a housing pilot program in Washington and Lamoille Counties to finance the construction of 250 new homes, aiming to make homeownership more affordable or reduce rental costs for these new developments. The program will utilize municipal debt, which is essentially borrowing money by a local government, and this debt will be fully secured by any increase in property taxes generated by the new development, known as property tax increment. This means that if the new homes increase the property tax revenue in the area, that increased revenue will be used to pay back the borrowed money.
Committee Categories
Housing and Urban Affairs
Sponsors (2)
Last Action
House Committee on General and Housing Hearing (00:00:00 1/22/2026 ) (on 01/22/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.vermont.gov/bill/status/2026/H.678 |
| BillText | https://legislature.vermont.gov/Documents/2026/Docs/BILLS/H-0678/H-0678%20As%20Introduced.pdf |
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