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Committee reviews finance and school‑construction measures; unclaimed‑property redirect and large school‑aid proposals draw scrutiny
Summary
The committee reviewed an omnibus finance bill that raises small-dollar unclaimed‑property thresholds and temporarily allows up to $300,000 a year to be used for Vermont Saves, plus extensive changes moving OPEB oversight to VPIC and a sweeping school‑construction proposal (H.955) that would leverage state bonding and raise possible aid levels to 95% but lacks identified revenues.
Lawmakers on Aug. 1 reviewed provisions in an omnibus finance package that include changes to unclaimed property rules, governance of retirement and other post‑employment benefit (OPEB) funds, and a sweeping school‑construction proposal (H.955) that would expand state aid and leverage bonding capacity.
Cameron Wood of the Office of Legislative Counsel (speaker 5) outlined unclaimed‑property changes that raise the de‑minimis threshold from $100 to $150 and permit the treasurer to deposit up to $300,000 per year to the Vermont Retirement Security Fund (for the Vermont Saves program) through Jan. 1, 2040; the remainder may still go to the Vermont Higher…
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