Title 32, Title 32: Taxation and Finance

§ 973. Issuance of bonds (a) Transportation Infrastructure Bonds may be issued at one time or in a series from time to time in any form permitted by law, in such manner and on such terms and conditions as the State Treasurer may determine to be in the best interests of the State,…

§ 974. Security documents (a) The State Treasurer is authorized to secure bonds authorized under this subchapter by a trust agreement that pledges or assigns monies in the Transportation Infrastructure Bond Fund, by additional security, insurance, or other forms of credit enhance…

§ 975. Proceeds Proceeds from the sale of bonds may be expended for the authorized purposes of the bonds, including the expenses of preparing, issuing, and marketing the bonds; any notes issued under section 976 of this title; and amounts for any reserves. However, no purchasers …

§ 975a. Authority of Treasurer The Treasurer may fulfill debt service obligations of bonds issued under this subchapter as they fall due without further order or authority. All such fulfillments shall be accounted for as a payment or provision made from the Transportation Infrast…

§ 975b. Debt service appropriations The General Assembly shall appropriate in the annual appropriations bill the amount necessary from the appropriate funds to pay the debt service obligations of Transportation Infrastructure Bonds that are due in the fiscal year covered by the a…

§ 976. Anticipation of proceeds (a) Pending the issue of Transportation Infrastructure Bonds, the State Treasurer, with the approval of the Governor, may use any available cash in the Transportation Infrastructure Bond Fund for the purposes for which the bonds were authorized, an…

§ 977. Refunding bonds The State Treasurer, with the approval of the Governor, is hereby authorized to issue Transportation Infrastructure Bonds in order to refund all or any portion of outstanding transportation bonds at any time after the issuance of the bonds to be refunded pu…

§ 978. Pledge The General Assembly hereby pledges and covenants with holders of the bonds issued under this subchapter that the State will fulfill the terms of any agreement made with the holders of Transportation Infrastructure Bonds and will not in any way impair the rights or …

§ 979. Authorities In addition to the provisions of this subchapter, the following provisions of this title shall apply to Transportation Infrastructure Bonds: (1) sections 951a, 953, 956, 958, and 960; (2) subsection 954(c), except that transfers shall be made only among project…

§ 980. Authority to issue Transportation Infrastructure Bonds The State Treasurer is authorized to issue Transportation Infrastructure Bonds pursuant to section 972 of this title for the purpose of funding future appropriations only as approved by the General Assembly. (Added 200…

§ 981. Form of bonds or notes Notwithstanding any general or special law to the contrary, the State may issue bonds or notes in coupon form payable to the bearer, in registered form without coupons, or in book entry form. Bonds or notes other than those in book entry form shall b…

§ 982. Transfer agent The State Treasurer shall act as transfer agent or registrar for the exchange or transfer of registered bonds or notes or maintain the records so that bonds or notes in book entry form may be effected or contract with or otherwise designate a bank, trust com…

§ 983. Confidential registry The books of registry held by the State Treasurer or other designated registrar shall be confidential and the information contained in the books of registry shall not be available to the public. (Added 1983, No. 15, eff. March 29, 1983; amended 2021, …

§ 984. Additional powers The State Treasurer or his or her designee shall have such additional powers as are necessary to effectuate the purposes of this subchapter. (Added 1983, No. 15, eff. March 29, 1983.)

§ 985. Application This subchapter supersedes any existing general or special law of the State with respect to the matters contained under this subchapter as they apply to bonds or notes issued by the State, but shall not diminish or restrict any powers previously granted by law.…

§ 991. Definitions As used in this subchapter: (1) “Private activity bond” shall have the meaning ascribed to it in Section 141 of the Internal Revenue Code of 1986, as amended. The use of such term in this subchapter is for reference purposes only, and shall not imply that the S…

§ 992. Allocation; authority (a) The State of Vermont hereby elects, under Section 146 of the Internal Revenue Code of 1986, as amended, to establish its formula for allocating the State ceiling among the governmental units of a state having authority to issue “private activity b…

§ 993. Public approval, out-of-state issuers Notwithstanding any provision to the contrary in Title 9, the Governor, in consultation with the State Treasurer, shall have exclusive authority to grant any public approval required under Section 147(f)(2) of the Internal Revenue Code…

§ 994. Recommendation regarding private bond volume cap The Treasurer shall, in coordination with the Secretary of Administration, the Secretary of Commerce and Community Development, and any bond issuing authority of the State or instrumentality of the State that is eligible to …

§ 995. Agreements for the exemption of interest (a) It is hereby found and determined that proposed amendments to the Internal Revenue Code of 1986, including, particularly, 26 U.S.C. § 103, and the relevant regulations of the U.S. Treasury Department, require the State, municipa…

§ 996. Delegation authorized The legislative branch of a municipality or county, however defined, may delegate to the treasurer or chief fiscal officer of a municipal corporation the power to enter into any agreement, make any covenant, or take any other action described in secti…

§ 997. State covenant To the extent that an issuer has entered into an agreement, covenanted, or acted to assure that interest on its obligations is not included in the gross income of the recipients for federal income tax purposes pursuant to this chapter, the State will not lim…

§ 998. Loans and grants In the event the State Treasurer issues bonds the interest on which is not to be included in gross income for federal income tax purposes, to the extent that such funds are made available to any municipal corporation, any instrumentality thereof or of the …

§ 999. Interest remittance and payments The State Treasurer may remit to the U.S. Treasury Department or any other agency of the United States funds earned on investments as necessary in order to maintain the noninclusion of interest on the General Fund obligations and the Transp…

§ 1002. Salary of Governor-Elect (a) The person receiving the major number of votes for Governor as determined by the certificates transmitted to the Secretary of State under provisions of 17 V.S.A. § 2592 shall be designated the Governor-Elect. (b) The Governor-Elect shall be en…

§ 1003. State officers (a) Each elective officer of the Executive Department is entitled to an annual salary as follows: (b) The Governor may appoint each officer of the Executive Branch listed in this subsection at a starting salary ranging from the base salary stated for that p…

§ 1006. Executive clerk and Executive messenger The Executive clerk shall be paid weekly compensation and expenses at the rates allowed to members of the General Assembly during a session of the General Assembly, such compensation and expenses to be paid from the appropriation fo…

§ 1007. Lieutenant Governor (a) The Lieutenant Governor shall be paid his or her expenses when away from Montpelier or his or her home in the interest of the State. (b) During any session of the General Assembly, the Lieutenant Governor is entitled to receive the same expenses au…

§ 1010. Members of certain boards (a) Except for those members serving ex officio or otherwise regularly employed by the State, the members of the following boards shall be entitled to receive per diem compensation: (1) Board of Bar Examiners (2) Board of Libraries (3) Vermont Mi…

§ 1012. Public Utility Commission The Chair of the Public Utility Commission shall be entitled to an annual salary that is the same annual salary to which each Superior Court judge is entitled. The other members of the Public Utility Commission, each of whom shall serve on a part…

§ 1018. Chair and Executive Secretary of Transportation Board (a) The annual salary of the Chair of the Transportation Board shall be fixed by the Governor. (b) The Transportation Board shall have the authority to hire an Executive Secretary to the Board, who shall be an exempt e…

§ 1020. Salary adjustment; approval of Governor (a) Compensation to be paid any officer or employee within the Executive Branch of State government shall be determined at the time the officer or employee is hired by the Governor or such person as the Governor shall designate, sub…

§ 1051. Speaker of the House and President Pro Tempore of the Senate; compensation and expense reimbursement (a) The Speaker of the House and the President Pro Tempore of the Senate shall be entitled to receive annual compensation of $10,080.00 for the 2005 Biennial Session and t…

§ 1052. Members of the General Assembly; compensation and expense reimbursement (a)(1) Each member of the General Assembly, other than the Speaker of the House and the President Pro Tempore of the Senate, is entitled to a weekly salary of $589.00 for the 2005 Biennial Session and…

§ 1053. Officers of the General Assembly The Clerk of the House, the First Assistant Clerk of the House, the Second Assistant Clerk of the House, the Secretary of the Senate, and the Assistant Secretary of the Senate shall be entitled to their necessary expenses and salaries as d…

§ 1053a. Legislative pages Legislative pages shall be entitled to a weekly compensation of $130.00 effective July 8, 2007, and a weekly expense allowance of $60.00 for those who commute and $95.00 for those who rent a room in the Montpelier area. Pages will be paid in the same ma…

§ 1061. Journals of the General Assembly After the close of the session of the General Assembly, the Secretary of the Senate and the Clerk of the House of Representatives shall each be entitled for each day for services rendered to one-fifth of the weekly salary to which each res…

§ 1101. Board of Medical Practice Each member of the State Board of Medical Practice shall receive $15.00 a day. The Secretary of the Board shall annually receive $400.00 additional. (Amended 1963, No. 193, § 21, eff. June 28, 1963.)

§ 1109. Expenses for Board members Each member of the boards mentioned in sections 1101-1108 of this title, shall be paid his or her reasonable and necessary expenses to be approved by the Chair of the Board.

§ 1111. Exemption from licensing renewal fees; persons 80 years of age or older Notwithstanding any provision of law to the contrary, licensees who are 80 years of age or older shall be exempt from payment of a renewal fee required under any provision of Title 26 or any of the fo…

§ 1141. Assistant judges (a)(1) Each assistant judge of the Superior Court shall be entitled to receive compensation in the amount of $224.47 a day as of July 14, 2024 and $236.59 a day as of July 13, 2025 for time spent in the performance of official duties and necessary expense…

§ 1142. Probate judges (a) The Probate judges in the several Probate Districts shall be entitled to receive the following annual salaries, which shall be paid by the State in lieu of all fees or other compensation: (b) Probate judges shall be entitled to be paid by the State for …

§ 1143. Compensation of appointees Persons acting under the authority of the Probate Division of the Superior Court shall be paid as follows: (1) for each day’s attendance by executor, administrator, trustee, agent, or guardian, on the business of their appointment, $4.00; (2) fo…

§ 1145. Illegal fees A judge or register of Probate who directly or indirectly accepts or receives, under color of his or her office, money or other valuable thing, by way of fees, remuneration, or compensation for the performance of an act as such judge or register, except as pr…

§ 1147. Courtroom expenses The expense of providing a suitable courtroom, without the county courthouse, including rent, heat, and light, with office furniture for the use of the court, shall be paid by the State if the contract for the same is approved by the Commissioner of Bui…

§ 1181a. Passport fees; retention by clerk Notwithstanding the provisions of sections 502 and 503 of this title, a county clerk may retain for the benefit of the county the execution fee paid pursuant to the issuance of a passport. (Added 1977, No. 247 (Adj. Sess.), § 196; amende…