§ 5930aa. Definitions
As used in this subchapter:
(1) “Qualified applicant” means an owner or lessee of a qualified building involving a
qualified project but does not include a State or federal agency or a political subdivision
of either or an instrumentality of the United States.
(2) “Qualified building” means a building built at least 30 years before the date of application,
located within a designated downtown, village center, or neighborhood development
area, which, upon completion of the project supported by the tax credit, will be an
income-producing building not used solely as a single-family residence. Churches and
other buildings owned by religious organization may be qualified buildings, but in
no event shall tax credits be used for religious worship.
(3) “Qualified code improvement project” means a project:
(A) to install or improve platform lifts suitable for transporting personal mobility devices,
limited use or limited application elevators, elevators, sprinkler systems, and capital
improvements in a qualified building, and the installations or improvements are required
to bring the building into compliance with the statutory requirements and rules regarding
fire prevention, life safety, and electrical, plumbing, and accessibility codes as
determined by the Department of Public Safety;
(B) to abate lead paint conditions or other substances hazardous to human health or safety
in a qualified building; or
(C) to redevelop a contaminated property in a designated downtown, village center, or
neighborhood development area under a plan approved by the Secretary of Natural Resources
pursuant to 10 V.S.A. § 6615a.
(4) “Qualified expenditures” means construction-related expenses of the taxpayer directly
related to the project for which the tax credit is sought but excluding any expenses
related to a private residence.
(5) “Qualified façade improvement project” means the rehabilitation of the Façade of a qualified building that contributes to the integrity of the designated downtown, designated village center, or neighborhood development area. Façade improvements to qualified buildings listed, or eligible for listing, in the State or National Register of Historic Places must be consistent with Secretary of the Interior Standards, as determined by the Vermont Division for Historic Preservation.
(6) “Qualified Flood Mitigation Project” means any combination of structural and nonstructural
changes to a qualified building that reduces or eliminates flood damage to the building
or its contents. This may include relocation of HVAC, electrical, plumbing, and other
building systems, and equipment above the flood level; repairs or reinforcement of
foundation walls, including flood gates; or elevation of an entire eligible building
above the flood level. Further eligible projects may be defined via program guidance.
The project shall comply with the municipality’s adopted flood hazard bylaw, if applicable,
and a certificate of completion shall be submitted by a registered engineer, architect,
qualified contractor, or qualified local official to program staff. Improvements to
qualified buildings listed, or eligible for listing, in the State or National Register
of Historic Places shall be consistent with Secretary of the Interior’s Standards
for Rehabilitation, as determined by the Vermont Division for Historic Preservation.
(7) “Qualified historic rehabilitation project” means an historic rehabilitation project
that has received federal certification for the rehabilitation project.
(8) “Qualified project” means a qualified code improvement, qualified façade improvement, or qualified historic rehabilitation project as defined by this subchapter.
(9) “State Board” means the Vermont Downtown Development Board established pursuant to
24 V.S.A. chapter 76A. (Added 2005, No. 183 (Adj. Sess.), § 12; amended 2013, No. 199 (Adj. Sess.), §§ 8, 9; 2015, No. 57, § 71, eff. June 11, 2015; 2019, No. 71, § 4; 2019, No. 131 (Adj. Sess.), § 294; 2021, No. 182 (Adj. Sess.), § 5, eff. July 1, 2022; 2023, No. 181 (Adj. Sess.), § 69, eff. June 17, 2024.)