The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
003
:
DISBURSEMENTS
(Cite as: 32 V.S.A. § 476)
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§ 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.)