BILL AS INTRODUCED H.679
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1 H.679
2 SHORT FORM
3 Introduced by Representative Stevens of Waterbury
4 Referred to Committee on
5 Date:
6 Subject: Taxation; property transfer tax; surcharge
7 Statement of purpose of bill as introduced: This bill proposes to create a
8 property transfer tax surcharge at the rate of two percent of the value of
9 property transferred that exceeds $600,000.00. This bill proposes to change
10 the allocation of revenue generated by the property transfer tax so that 75
11 percent is allocated to the Vermont Housing and Conservation Trust Fund, 20
12 percent is allocated between the Municipal Technical Assistance Program and
13 Department of Taxes, 0.2 percent is allocated to the Clean Water Fund, two
14 percent is allocated for administration of the tax, and the remainder is allocated
15 to the General Fund.
16 An act relating to establishing a property tax surcharge and allocation of
17 property transfer tax revenue
18 It is hereby enacted by the General Assembly of the State of Vermont:
19 (TEXT OMITTED IN SHORT-FORM BILLS)
VT LEG #373507 v.1