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H.499

Introduced by   Representative Obuchowski of Rockingham

Referred to Committee on

Date:

Subject:  Taxation; education property tax; tax stabilization agreements; hydroelectric facilities

Statement of purpose:  This bill proposes to require the facilities purchased by the town of Rockingham to be taxed in the same manner as other municipal utilities.

AN ACT RELATING TO HYDROELECTRIC PLANT TAX STABILIZATION AGREEMENTS AND PAYMENT IN LIEU OF TAXES

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

Sec. 1.  REPEAL

32 V.S.A. § 5404b(3) (payment in lieu of taxes for Rockingham hydroelectric plant) is repealed.

Sec. 2.  EFFECTIVE DATE

This act shall be effective upon passage and shall apply to property tax years beginning 2005 and after.



Published by:

The Vermont General Assembly
115 State Street
Montpelier, Vermont


www.leg.state.vt.us