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House Appropriations panel reviews fix to property transfer tax allocations in budget adjustment act
Summary
The House Appropriations Committee on Jan. 29 heard a Joint Fiscal Office briefing on language in the Budget Adjustment Act that would change how $9 million in property transfer tax revenue is split among regional planning commissions, municipalities and the Vermont Center for Geographic Information.
The House Appropriations Committee on Jan. 29, 2025 heard a presentation from Ted Barnett, senior fiscal analyst at the Joint Fiscal Office, on proposed Budget Adjustment Act language intended to clarify how property transfer tax revenue is allocated to the Municipal and Regional Planning Fund.
Barnett told the committee the issue arises from changes in Act 181, which added roughly $1.3 million to the Municipal and Regional Planning Fund and left unclear how that increase should be distributed. He said the total now at issue is $9 million and that one way to resolve the ambiguity would…
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