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Searching 2021-2022 Session

The Vermont Statutes Online


Title 32 : Taxation and Finance


Subchapter 003 : DISBURSEMENTS

(Cite as: 32 V.S.A. § 476)
  • § 476. Rebate of income earned from investment or reinvestment of bond proceeds to the U.S. Treasury Department

    Subject only to the approval of the Governor, the Commissioner of Finance and Management shall issue his or her warrant for payment to the U.S. Treasury Department or any other agency of the United States of all or any portion of the income received by the State from the investment or reinvestment of the proceeds of any bonds issued by the State in such amount and to the extent necessary to ensure that interest on bonds issued by the State is not included in gross income of the recipients thereof for federal income tax purposes. (Added 1985, No. 125 (Adj. Sess.), § 6, eff. April 18, 1986; amended 1987, No. 36, § 7; 1987, No. 243 (Adj. Sess.), § 59, eff. June 13, 1988.)