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Senate rejects amendment to target homestead tax buy‑downs; passes H.949 on homestead yields
Summary
On third reading the Senate defeated an amendment to H.949 that would have targeted roughly $13.8 million of property‑tax buy‑downs to income‑sensitive households, then passed the bill on concurrence votes.
On third reading the Senate considered H.949, a bill addressing homestead property tax yields, the non‑homestead rate, and technical changes to education finance.
The senator from Chittenden Central offered an amendment proposing a targeted approach to property‑tax buy‑downs: reserve roughly $13.8 million to hold income‑sensitive households harmless from a property tax increase by increasing renter credits and issuing direct payments where appropriate. “This proposal proposes that we spend 13.8 million dollars to buy down income sensitized households to zero,” the senator said, laying out the fiscal targeting and a plan to collect better income data for future fine‑tuning.
Senators questioned and debated the amendment’s mechanics and fiscal prudence. The senator from Washington, noting Finance had not seen the amendment in committee, said the proposal was complex and urged committee review before approval. After floor interrogation and a voice vote, the amendment failed (the nays had it). The Senate then passed H.949 in concurrence with its proposal of amendment on a subsequent voice vote.
What’s next: H.949 passed the Senate and will go back to the House with the Senate’s actions recorded.
