BILL AS INTRODUCED H.692
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1 H.692
2 SHORT FORM
3 Introduced by Representative Mulvaney-Stanak of Burlington
4 Referred to Committee on
5 Date:
6 Subject: Taxation; tax incentive; real estate transactions
7 Statement of purpose of bill as introduced: This bill proposes to provide a tax
8 incentive for selling a primary residence to a buyer who is purchasing with
9 financing from a financial institution in order to help buyers who are
10 purchasing through a financial institution to compete with buyers who would
11 be purchasing without financing. This bill proposes to impose a surcharge on
12 sellers when transferring a primary residence by deed and create an exemption
13 to that surcharge when a buyer is purchasing with financing from a financial
14 institution.
15 An act relating to encouraging the sale of homes to buyers who are
16 financing
17 It is hereby enacted by the General Assembly of the State of Vermont:
18 (TEXT OMITTED IN SHORT-FORM BILLS)
VT LEG #373215 v.2