The Vermont Statutes Online

Title 24 : Municipal and County Government

Chapter 053 : Indebtedness

Subchapter 007 : COMMUNITY AND HOUSING INFRASTRUCTURE PROGRAM

• § 1910d. Information reporting

  (a) A municipality with an active housing infrastructure project shall:

  (1) develop a system, segregated for the housing infrastructure project, to identify, collect, and maintain all data and information necessary to fulfill the reporting requirements of this section;

  (2) provide timely notification to the Department of Taxes and the Vermont Economic Progress Council of any housing infrastructure project debt, public vote, or vote by the municipal legislative body immediately following the debt incurrence or public vote on a form prescribed by the Council, including copies of public notices, agendas, minutes, vote tally, and a copy of the information provided to the public pursuant to subsection 1910a(e) of this subchapter; and

  (3) annually on or before February 15, submit on a form prescribed by the Vermont Economic Progress Council an annual report to the Council and the Department of Taxes, including the information required by subdivision (2) of this subsection if not previously submitted, the information required for annual audit under section 1910e of this subchapter, and any information required by the Council or the Department of Taxes for the report required pursuant to subsection (b) of this section.

  (b) Annually on or before April 1, the Vermont Economic Progress Council and the Department of Taxes shall submit a report to the Senate Committees on Economic Development, Housing and General Affairs and on Finance and the House Committees on Commerce and Economic Development, on General and Housing, and on Ways and Means that provides the aggregate lifetime education property tax increment retention approved that year, describes common reasons applicants to the Community and Housing Infrastructure Program fail to secure approval for tax increment financing, and includes for each housing infrastructure project approved pursuant to this subchapter the following:

  (1) the date of approval;

  (2) a description of the housing infrastructure project;

  (3) the original taxable value of the housing development site;

  (4) the scope and value of projected and actual improvements and developments in the housing development site, including the number of housing units created;

  (5) the sale prices for initial offerings of any housing units;

  (6) the number and types of housing units for which a permit is being pursued under 10 V.S.A. chapter 151 (State land use and development plans) and, for each applicable housing development, the current stage of the permitting process;

  (7) projected and actual incremental revenue amounts;

  (8) the allocation of incremental revenue, including the amount allocated to related costs;

  (9) projected and actual financing; and

  (10) an evaluation of the amount of public funds flowing to private ownership or usage.

  (c) On or before January 15, 2035, the Vermont Economic Progress Council shall submit a report to the Senate Committees on Economic Development, Housing and General Affairs and on Finance and the House Committees on Commerce and Economic Development, on General and Housing, and on Ways and Means evaluating the success of the Community and Housing Infrastructure Program in achieving its purpose, as stated in section 1907 of this chapter, including by identifying the amount and kinds of housing produced through the Program and by determining whether housing development pursued through the Program meets the project criteria of section 1910 of this chapter. (Added 2025, No. 69, § 20, eff. July 1, 2025.)