Bill > S0312

This bill proposes to transform the existing corporate income tax credit for investments in machinery and equipment from a nonrefundable credit, meaning it can only reduce tax owed to zero, into a refundable credit, which allows businesses to receive any unused credit amount as a direct refund. It also removes previous limitations on how much of this credit a business can use to reduce its income tax liability in a single year, and extends the program's expiration date, or "sunset," from 2030 to 2034, meaning businesses can claim this credit for a longer period.

Budget and Finance

https://legislature.vermont.gov/bill/status/2026/S.312