| 1 | 1 | | BILL AS INTRODUCED H.178 |
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| 2 | 2 | | 2025 Page 1 of 2 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | VT LEG #380206 v.1 |
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| 6 | 6 | | H.178 1 |
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| 7 | 7 | | Introduced by Representatives Boutin of Barre City, Micklus of Milton, 2 |
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| 8 | 8 | | Morgan, L. of Milton, Morgan, M. of Milton, Steady of Milton, 3 |
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| 9 | 9 | | Taylor of Milton, and Waszazak of Barre City 4 |
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| 10 | 10 | | Referred to Committee on 5 |
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| 11 | 11 | | Date: 6 |
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| 12 | 12 | | Subject: Taxation; education property tax; overpayment; tax increment 7 |
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| 13 | 13 | | financing district; City of Barre; Town of Milton 8 |
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| 14 | 14 | | Statement of purpose of bill as introduced: This bill proposes to refund 9 |
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| 15 | 15 | | education property tax overpayments made by the City of Barre and by the 10 |
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| 16 | 16 | | Town of Milton due to miscalculations of the amount of tax increment to be 11 |
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| 17 | 17 | | retained by each municipality from its tax increment financing district fund. 12 |
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| 18 | 18 | | An act relating to refunding property tax overpayments to the City of Barre 13 |
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| 19 | 19 | | and to the Town of Milton 14 |
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| 20 | 20 | | It is hereby enacted by the General Assembly of the State of Vermont: 15 |
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| 21 | 21 | | Sec. 1. EDUCATION FUND REFUND; CITY OF BARRE TIF DISTRICT ; 16 |
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| 22 | 22 | | TAX INCREMENT; FY 2016–FY 2020 17 |
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| 23 | 23 | | Notwithstanding any other provision of law, the sum of $437,028.00 shall 18 |
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| 24 | 24 | | be transferred from the Education Fund to the City of Barre not later than fiscal 19 |
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| 25 | 25 | | year 2026 to compensate the City for overpayments of education property 20 BILL AS INTRODUCED H.178 |
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| 26 | 26 | | 2025 Page 2 of 2 |
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| 27 | 27 | | |
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| 28 | 28 | | |
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| 29 | 29 | | VT LEG #380206 v.1 |
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| 30 | 30 | | taxes in fiscal years 2016 through 2020 due to insufficient retention of tax 1 |
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| 31 | 31 | | increment from the City’s Tax Increment Financing District fund. 2 |
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| 32 | 32 | | Sec. 2. EDUCATION FUND REFUND; MILTON TOWN CORE TIF 3 |
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| 33 | 33 | | DISTRICT; TAX INCREMENT; FY 2017–FY 2023 4 |
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| 34 | 34 | | Notwithstanding any other provision of law, the sum of $184,451.00 shall 5 |
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| 35 | 35 | | be transferred from the Education Fund to the Town of Milton not later than 6 |
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| 36 | 36 | | fiscal year 2026 to compensate the Town for overpayments of education 7 |
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| 37 | 37 | | property taxes in fiscal years 2017 through 2023 due to insufficient retention of 8 |
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| 38 | 38 | | tax increment from the Town Core’s Tax Increment Financing District fund. 9 |
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| 39 | 39 | | Sec. 3. EFFECTIVE DATE 10 |
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| 40 | 40 | | This act shall take effect on passage. 11 |
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