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BILL AS INTRODUCED 2007-2008

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H.365

Introduced by Representatives Sharpe of Bristol, Cheney of Norwich, Edwards of Brattleboro, Fisher of Lincoln, Maier of Middlebury, McCullough of Williston, Orr of Charlotte and Weston of Burlington

Referred to Committee on

Date:

Subject:  Taxation; carbon tax; property tax rebate program expansion; public transit; energy efficiency

Statement of purpose:  This bill proposes to create a tax on carbon fuel use and dedicate the revenue to the expansion of the property tax rebate program, funding of public transportation, and increased energy efficiency.

AN ACT RELATING TO CREATION OF A CARBON TAX

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

Sec. 1.  32 V.S.A. chapter 238 is added to read:

CHAPTER 238.  CARBON TAX

§ 10160.  CARBON TAX

(a)  There is imposed on the retail sale of carbon-based products a tax on:

Gasoline at $0.09 per gallon

Diesel at $0.10 per gallon

Kerosene at $0.09 per gallon

Natural gas at $0.0005 per cubic foot

Fuel oil at $0.10 per gallon

Coal at $22.53 per ton

Distillate fuel at $0.09 per gallon

Jet fuel at $0.08 per gallon

Liquid propane gas at $0.06 per gallon

Petroleum-based lubricants at $0.10 per gallon

Residual fuel at $0.11 per gallon

(b)  This tax shall be administered and enforced in the same manner as is the sales tax under chapter 233 of this title.

(c)  The revenue from this tax shall be deposited quarterly as follows:

one-half into the education fund, one-quarter into the transportation fund for support of public transportation, and one-quarter into the clean energy fund for Efficiency Vermont.

Sec. 2.  16 V.S.A. § 4025(a)(8) is added to read:

(a)  An education fund is established to be comprised of the following:

* * *

(8)  One-half the revenue from the carbon tax under chapter 238 of Title 32. 


Sec. 3.  32 V.S.A. § 6066(a)(3) and (b) are amended to read:

(3)  a claimant whose household income does not exceed $47,000.00 shall also be entitled to an additional adjustment amount equal to the amount by which the property taxes for the municipal fiscal year which began in the taxable year upon the claimant’s housesite, reduced by the adjustment amount determined under subdivisions (1) and (2) of this subsection, exceeds a percentage of the claimant’s household income for the taxable year as follows:

If household income (rounded to                   then the taxpayer is entitled

the nearest dollar) is                                     to credit for the reduced

                                                                    property tax in excess of this

                                                                    percent of that income:

         $0 - 9,999.00                                     2.0

         $10,000.00 - 24,999.00                     4.5 3.0

         $25,000.00 - 47,000.00                     5.0 4.0

In no event shall the credit exceed the amount of the reduced property tax.

(b)  An eligible claimant who rented the homestead on the last day of the taxable year, whose household income does not exceed $47,000.00, and who submits a certificate of rent constituting property taxes shall be entitled to a credit against the claimant’s tax liability under chapter 151 of this title equal to the amount by which the rent constituting property taxes upon the claimant’s housesite exceeds a percentage of the claimant’s household income for the taxable year as follows:

If household income (rounded to                   then the taxpayer is entitled

the nearest dollar) is:                                     to credit for rent constituting                      property

                                                                    tax paid in excess of this percent of

                                                                    that income:

         $0 - 9,999.00                                     2.0

         $10,000.00 - 24,999.00                     4.5 3.0

         $25,000.00 - 47,000.00                     5.0 4.0

In no event shall the credit exceed the amount of the rent constituting property tax.

Sec. 4.  19 V.S.A. § 11 is amended to read:

§ 11.  TRANSPORTATION FUND

The transportation fund shall be comprised of the following:

(1)  all taxes, penalties, and fees received by the commissioner of motor vehicles except those relating to motorboats imposed under chapter 29 of Title 23 which shall be expended pursuant to 23 V.S.A. § 3319;

(2)  the revenue derived from the taxes on motor fuel as provided for by Title 23;

(3)  all grants from the federal government and regional associations for transportation purposes except for snowmobiles and motorboats;

(4)  moneys received from the sales and use tax on aviation jet fuel under 32 V.S.A. chapter 233;

(5)  receipts from pilot and aircraft license fees;

(6)  all penalties and fines imposed under Titles 5, 19, and 23; and

(7)  both statewide and departmental indirect cost recoveries from federal sources by the agency of transportation. ;

(8)  one-quarter of the revenue generated by the carbon tax imposed under 32 V.S.A. § 10160 to be used for support of public transportation;

(9)  other miscellaneous sources including the sale of maps, plans, and reports, fees collected by the travel information council and leases for property at state-owned airports and railroads.

Sec. 5.  EFFECTIVE DATES

(a)  Sec. 1 of this act shall apply to sales on and after July 1, 2007.

(b)  Secs. 2 and 4 of this act shall take effect July 1, 2007.

(c)  Sec. 3 of this act shall apply to property tax adjustment claims filed in 2008 and after.



Published by:

The Vermont General Assembly
115 State Street
Montpelier, Vermont


www.leg.state.vt.us