NO. 150.  AN ACT RELATING TO CAPITAL CONSTRUCTION, STATE BONDING AND THE DEPARTMENT OF CORRECTIONS, PART II.

(S.251)

It is hereby enacted by the General Assembly of the State of Vermont:

Sec. 1.  Sec. 43(a) of House Bill 771 of 2002 is amended to read:

(a)  Notwithstanding any provisions of Titles 16 and 32, a school district, or a Vermont participant in an interstate school district, may vote to remove spending, including capital debt service, for capital school construction costs certified by the commissioner as eligible for approval under 16 V.S.A. § 3448(a)(8), voted after July 1, 2002, and begun in fiscal years 2003, 2004 or 2005, from the calculation of its local education spending for any fiscal year.  A school district, or a Vermont participant in an interstate school district, which has voted a capital school construction project after February 2000 April 1999, but before July 1, 2002, and which has begun construction before July 1, 2002, may vote to remove spending for capital debt service on costs which the commissioner certifies would be eligible for approval under 16 V.S.A. § 3448(a)(8), from its local education spending for any fiscal year beginning July 1, 2002 or after.  The legislative body in the municipality shall then assess each owner on the municipality’s education property tax grand list at the rate necessary to raise the capital construction spending amount removed from local education spending, and shall identify the amount of that tax separately with the tax bill.  “School district” under this subsection means a district which pays statewide property tax at the rate set under 32 V.S.A. § 5402.

Sec. 2.  STATUTORY ANNOTATION

The Legislative Council is directed to publish an annotation to 10 V.S.A. § 1978(f), concerning the meaning of that subsection, as added by Sec. 95 of H.763 of the 2002 Session, as follows:

“Capital Construction Bill, H.763 – 2001 Adjourned Session

Section 95 of H.763, the Capital Construction Bill, 10 V.S.A. § 1078(f), has been enacted to give the secretary of the agency of natural resources emergency rulemaking authority as S.27 is implemented.  It is the intent of the general assembly by enactment of this section to give the secretary the authority to adopt necessary emergency rules to address, clarify or correct any unintended consequences arising from the implementation of S.27 as it relates to the marketability of title for existing, exempt single family residences on their own lots and/or existing, undeveloped lots exempt under the applicable state subdivision rules in effect on the effective date of S.27.

Dated:  June 8, 2002

_____/s/_________________          _____/s/______________

Vincent Illuzzi, Chair           Robert Wood, Chair

Senate Institutions Committee        House Institutions Committee

_____/s/______________ __      _____/s/______________

Richard McCormack, Chair           Philip Angell, Chair

Senate Natural Res. and Energy         House Natural Res. and Energy

Comm.                                 Comm.”

Sec. 3.  EFFECTIVE DATE

This act shall take effect from passage.   

Approved:  June 27, 2002