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
007
:
FEDERAL TAXATION OF INTEREST
(Cite as: 32 V.S.A. § 999)
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§ 999. Interest remittance and payments
The State Treasurer may remit to the U.S. Treasury Department or any other agency
of the United States funds earned on investments as necessary in order to maintain
the noninclusion of interest on the General Fund obligations and the Transportation
Fund obligations authorized by the General Assembly in the gross income of recipients
thereof. Such remittances may be made from funds appropriated for debt service interest.
If those appropriations become insufficient to meet interest and other related payments,
subject to the approval of the Emergency Board, there is appropriated such amounts
as may be necessary to eliminate the insufficiency in the State appropriations for
interest. (Added 1995, No. 178 (Adj. Sess.), § 267.)