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Senate amends and passes S.127 to expand tax-increment financing option for housing projects
Summary
The Senate amended S.127 to clarify the bill’s purpose as supporting workforce housing, extended evaluation/sunset timing for housing TIFs, and passed the bill on third reading; proponents said annual reports will allow legislative oversight.
The Vermont Senate on March 31 amended and passed S.127, an act relating to housing and housing development, after adopting changes intended to direct tax-increment financing (TIF) toward workforce and starter housing.
Senator from Washington led an amendment focused on section 16 of the bill, which concerns housing TIF districts. The amendment revised language to emphasize the bill’s purpose — subsidizing infrastructure costs to support workforce housing — and adjusted program timing and reporting requirements. The…
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