|BILL AS INTRODUCED||2007-2008|
Introduced by Senator Lyons of Chittenden District and Senator Ayer of Addison District
Subject: Regional alternative transportation funding; local option tax revenue
Statement of purpose: This bill proposes to establish a regional alternative transportation fund and to dedicate a portion of local option sales tax revenues to this fund.
AN ACT RELATING TO LOCAL OPTION TAX REVENUE FUNDING OF REGIONAL ALTERNATIVE TRANSPORTATION
It is hereby enacted by the General Assembly of the State of Vermont:
Sec. 1. 24 V.S.A. § 138(d) is amended to read:
the taxes collected under this section, 70 percent of the taxes shall be paid
on a quarterly basis to the municipality in which they were collected, after
reduction for the costs of administration and collection under subsection (c)
of this section. Revenues received by a municipality may be expended for
municipal services only, and not for education expenditures.
the remaining revenue, 80 percent shall be deposited into the PILOT
special fund established by 32 V.S.A. § 3709, and 20 percent shall be
deposited into the regional alternative transportation fund under 19 V.S.A. § 11f.
Sec. 2. 19 V.S.A. § 11f is added to read:
§ 11f. REGIONAL ALTERNATIVE TRANSPORTATION FUND
(a) There is created a special account within the transportation fund to be known as the regional alternative transportation fund. This fund shall be comprised of the portion of local option sales tax revenue allocated in 24 V.S.A. § 138(d).
(b) By January 15 of each year, the secretary of transportation shall make recommendations to the house and senate committees on transportation for establishing and enhancing regional alternative modes of transportation. The agency shall annually solicit input from each of the regional planning commissions and the Chittenden County metropolitan planning organization on regional priorities.
The Vermont General Assembly
115 State Street