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House amends H.829 to fund housing programs, shifts transfer-tax threshold to $750,000
Summary
Lawmakers on the House floor amended H.829, a housing package that locks in funding for multiple housing programs and adjusts the property transfer tax structure (raising the higher marginal bracket to $750,000). Members debated program cuts, eviction-policy gaps and VHIP funding before ordering third reading.
Members of the House debated and amended H.829, a broad housing package titled to create “permanent upstream eviction protections and enhance housing stability,” and ordered the bill for third reading.
Representative Kornheiser (member from Brattleboro) offered a Ways and Means amendment that restores long-standing statutory percentages for the transfer tax trust fund, corrects an earlier oversight affecting the clean water fund and moves the upper marginal transfer-tax bracket from $600,000 to $750,000. Kornheiser walked members through numerical scenarios and said the amendment ‘‘makes the whole pie larger,’’ arguing the same percentage slices would represent greater investment as the fund grows.
The floor record shows the amendment would add a new marginal transfer-tax rate at 3.65% for the top bracket and the sponsor gave examples of reduced transfer tax liabilities under the change. After…
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