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BILL AS INTRODUCED 2007-2008

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S.323

Introduced by Senator Miller of Chittenden District

Referred to Committee on

Date:

Subject:  Taxation; study; tax policy; incentives

Statement of purpose:  This bill proposes to create a commission to study changes to the tax policy to encourage beneficial behavior that benefits society and the environment and discourage behavior that is detrimental to society and the environment.

AN ACT RELATING TO STUDYING TAX POLICY

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

Sec. 1.  FAIR TAX POLICY STUDY COMMISSION; CREATION

(a)  There is created a fair tax policy commission to study the present tax policy and recommend tax policy changes or shifts that encourage activities that benefit Vermont and discourage activities that have a negative social or environmental impact.   Appointments to the commission shall be made no later than August 1, 2008.  The commission shall be composed of 11 members to include the following:

(1)  The commissioner of the department of taxes, or designee.

(2)  The commissioner of economic development, or designee.

(3)  A representative from the Vermont public interest research group.

(4)  A representative from Vermont businesses for social responsibility.

(5)  A representative from the Vermont natural resources council.

(6)  A representative from Friends of the Earth.

(7)  The chair of the house committee on ways and means.

(8)  The chair of the senate committee on finance.

(9)  Three members with experience in taxation or business, appointed by the governor.

(b)  The commission shall study present tax and subsidy policy and issue a report of its findings and recommendations for tax policy changes on or before December 1, 2008.  The commission shall consider at least all the following:

(1)  Existing subsidies that encourage activities that damage or destroy the environment.

(2)  Taxation that is regressive or discourages positive and beneficial activities.

(3)  Tax shifts that would strengthen the economy, cleanup the environment, and improve the fairness of the state tax structure by eliminating or reducing regressive taxes.

(4)  Tax and subsidy policy shifts that would increase taxes on and reduce subsidies for activities that create pollution and waste.

(c)  The members of the commission shall elect a chair.  The commission shall meet at least five times before December 1, 2008.

(d)  The departments of tax and pf finance and management shall provide administrative support to the commission, and the commission may also request administrative support from the legislative joint fiscal office and the legislative council.
Sec. 2.   EFFECTIVE DATE

This act shall take effect on passage.



Published by:

The Vermont General Assembly
115 State Street
Montpelier, Vermont


www.leg.state.vt.us