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An act relating to debt financing for the Vermont housing finance agency


The House proposes to the Senate to amend the bill by adding a new Sec. 2 to read:

Sec. 2.  10 V.S.A. § 639(a) is amended to read:

(a)  On or before the last day of January in each year the agency shall submit a report of its activities for the preceding fiscal year to the governor and to the general assembly, specifically the committees in the house and senate with jurisdiction over housing.  Each report shall set forth a complete operating and financial statement covering its operations during the year, including the agency’s present and projected economic health, amount of indebtedness, a statement of the amounts received from funds generated by interest from real estate escrow and trust accounts established pursuant to 26 V.S.A. § 2214(c), a list and description of the programs to which IORTA funds were provided and the amounts distributed to each county.  The agency shall cause an audit of its books and accounts to be made at least once in each year by certified public accountants; the cost shall be considered an expense of the agency and a copy shall be filed with the state treasurer.

and by renumbering the existing Sec. 2 (Effective date) to be Sec. 3

Published by:

The Vermont General Assembly
115 State Street
Montpelier, Vermont