Title 10, Conservation and Development

§ 586. Regulation of hydrofluorocarbons (a) As used in this section: (1) “Class I substance” and “class II substance” mean those substances listed in the 42 U.S.C. § 7671a, as it read on November 15, 1990, and Appendix A or B of Subpart A of 40 C.F.R. Part 82, as those read on Ja…

§ 590. Definitions As used in this chapter: (1) “Adaptation” means reducing vulnerability and advancing resilience through planned and implemented enhancements to, or avoiding degradation of, natural and built systems and structures. (2) “Greenhouse gas” has the same meaning as i…

§ 591. Vermont Climate Council (a) There is created the Vermont Climate Council (Council). The Council shall be composed of the following members: (1) the Secretary of Administration, who shall serve as the Chair of the Council; (2) the Secretary of Natural Resources or designee;…

§ 592. The Vermont Climate Action Plan (a) On or before December 1, 2021, the Vermont Climate Council (Council) shall adopt the Vermont Climate Action Plan (Plan) and update the Plan on or before July 1 every four years thereafter. (b) The Plan shall set forth the specific initia…

§ 593. Rules (a) The Secretary of Natural Resources shall adopt rules pursuant to 3 V.S.A. chapter 25 consistent with the Vermont Climate Action Plan (Plan). In adopting rules pursuant to this section the Secretary shall: (1) Ensure that the rules are consistent with the specific…

§ 594. Cause of action (a) Any person may commence an action based upon the failure of the Secretary of Natural Resources to adopt or update rules pursuant to the deadlines in section 593 of this chapter. (1) The action shall be brought pursuant to Rule 75 of the Vermont Rules of…

§ 596. Definitions As used in this chapter: (1) “Agency” means the Agency of Natural Resources. (2) “Climate change adaptation project” means a project designed to respond to, avoid, moderate, repair, or adapt to negative impacts caused by climate change and to assist human and n…

§ 597. The Climate Superfund Cost Recovery Program There is hereby established the Climate Superfund Cost Recovery Program administered by the Climate Action Office of the Agency of Natural Resources. The purposes of the Program shall be all of the following: (1) to secure compen…

§ 598. Liability of responsible parties (a)(1) A responsible party shall be strictly liable for a share of the costs of climate change adaptation projects and all qualifying expenditures supported by the Fund. (2) For purposes of this section, entities in a controlled group: (A) …

§ 599. Climate Superfund Cost Recovery Program Fund (a) There is created the Climate Superfund Cost Recovery Program Fund to be administered by the Secretary of Natural Resources to provide funding for climate change adaptation projects in the State. The Fund shall consist of: (1…

§ 599a. Reports; rulemaking (a) On or before January 15, 2025, the Agency, in consultation with the State Treasurer, shall submit a report to the General Assembly detailing the feasibility and progress of carrying out the requirements of this chapter, including any recommendation…

§ 599b. Climate Change Cost Recovery Program audit Beginning on January 1, 2031, and every five years thereafter, the State Auditor shall evaluate the operation and effectiveness of the Climate Superfund Cost Recovery Program. The Auditor shall make recommendations to the Agency …

§ 599c. State Treasurer report on the cost to Vermont of covered greenhouse gas emissions On or before January 15, 2027, the State Treasurer, after consultation with the Interagency Advisory Board to the Climate Action Office, and with any other person or entity whom the State Tr…

§ 601. Definitions The following words and terms, unless the context clearly indicates a different meaning, shall have the following meaning: (1) “Agency” means the Vermont Housing Finance Agency created by this chapter. (2) “Bonds, notes, and other obligations” or “bonds, bond a…

§ 602. Statutory purposes The statutory purpose of the exemption for the Vermont Housing Finance Agency in subsection 641(a) of this title is to provide and promote affordable housing. (Added 2013, No. 200 (Adj. Sess.), § 8.)

§ 611. Creation of the Vermont Housing Finance Agency (a) There is created and established a body politic and corporate with such duties and powers as are set forth in this chapter, to be known as the “Vermont Housing Finance Agency” to carry out the provisions of this chapter. T…

§ 621. General powers and duties The Agency shall have all of the powers necessary and convenient to carry out and effectuate the purposes and provisions of this chapter, including those general powers provided a business corporation by 11A V.S.A. § 3.02 and those general powers …

§ 622. Powers relative to purchase of and sale to mortgage lenders of mortgage loans; loans through mortgage lenders The Agency shall have the following powers in addition to others granted in this chapter: (1) To invest in, purchase or make commitments to purchase, and take assi…

§ 623. Terms and conditions of the purchase and sale to mortgage lenders of mortgage loans; loans through mortgage lenders (a) No mortgage or other obligation purchased from a mortgage lender shall be eligible for purchase or commitment to purchase by the Agency hereunder unless …

§ 624. Making of loans to housing sponsors (a) The Agency may: (1) Make, undertake commitments to make, purchase, undertake commitments to purchase, and participate with mortgage lenders in the making of mortgage loans, and to make grants, loans, and advances to housing sponsors …

§ 625. Procedure prior to financing of multi-family housing undertaken by housing sponsors The Agency may not finance any residential housing undertaken by a housing sponsor under subdivision 624(a)(1) of this title unless: (1) the residential housing is primarily for occupancy b…

§ 626. Rules; insulation of structures (a) The Agency may adopt rules, but they shall be under 3 V.S.A. chapter 25, providing standards for the insulation, design, and equipping of buildings to minimize, insofar as is practicable and economical, the transfer of heat or cold betwe…

§ 627. Mortgage purchases (a) In addition to other powers granted in this chapter, the Agency shall have the power to participate with mortgage lenders in a program whereby mortgage loans, rehabilitation loans, and eligible securities are purchased from mortgage lenders by the Ag…

§ 628. Mortgage credit certificates In addition to other powers granted in this chapter, the Agency shall have the power to establish a qualified mortgage credit certificate program and to issue mortgage credit certificates as provided in this section. The terms “qualified mortga…

§ 629. Rental Housing Revolving Loan Program (a) Creation; administration. The Vermont Housing Finance Agency shall design and implement a Rental Housing Revolving Loan Program and shall create and administer a revolving loan fund to provide subsidized loans for rental housing de…

§ 631. Bonds and notes (a)(1) The Agency may issue its negotiable notes and bonds in such principal amount as the Agency determines to be necessary to provide sufficient funds for achieving any of its corporate purposes, including the payment of interest on notes and bonds of the…

§ 632a. Reserve and pledged equity funds (a) The Agency may create and establish one or more special funds, herein referred to as “debt service reserve funds” or “pledged equity funds.” (b) The Agency shall pay into each debt service reserve fund: (1) Any monies appropriated and …

§ 633. Refunding obligations — Issuance The Agency may provide for the issuance of refunding obligations for the purpose of refunding any obligations then outstanding that have been issued under the provisions of this chapter, including the payment of any redemption premium there…

§ 634. Refunding obligations — Sale Refunding obligations issued as provided in section 633 of this title may be sold or exchanged for outstanding obligations issued under this chapter and, if sold, the proceeds thereof may be applied, in addition to any other authorized purposes…

§ 635. Remedies of bondholders and noteholders (a) In the event that the Agency defaults in the payment of principal or of interest on any bonds or notes issued under this chapter after they become due, whether at maturity or upon call for redemption, and the default continues fo…

§ 636. Pledge of the State The State does hereby pledge to and agree with the holders of the notes and bonds issued under this chapter that the State will not limit or restrict the rights hereby vested in the Agency to perform its obligations and to fulfill the terms of any agree…

§ 637. Sovereign immunity, credit of State not pledged The Agency shall have the benefit of sovereign immunity to the same extent as the State of Vermont. Commissioners, officers, employees, and the executive director of the Agency shall be deemed employees of the State for purpo…

§ 638. Notes and bonds as legal investments Notwithstanding any other law, the State and all public officers, governmental units, and agencies thereof, all banks, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, inves…

§ 639. Annual reports; audit (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 …

§ 640. Authorization to accept appropriated monies The Agency is authorized to accept and expend such monies as may be appropriated or approved from time to time by the General Assembly for effectuating its corporate purposes including the payment of the initial expenses of admin…

§ 641. Tax exemption (a) All property of the Agency is public property devoted to an essential public and governmental function and purpose and is exempt from all taxes, franchise fees, and special assessments of whatever nature of the State or any subdivision. All bonds or notes…

§ 642. Liberal construction Neither this chapter nor anything herein contained is or shall be construed as a restriction or limitation upon any powers that the Agency might otherwise have under any laws of this State, and this chapter is cumulative to any such powers. This chapte…

§ 643. Inconsistent provisions in other laws superseded Insofar as the provisions of this chapter are inconsistent with the provisions of any other law, general, special, or local, the provisions of this chapter shall be controlling. (Added 1973, No. 260 (Adj. Sess.), § 3, eff. A…

§ 651. Findings; policy and purpose The General Assembly finds that the State of Vermont is endowed with extraordinary natural beauty by its mountains, waterways, and open spaces; that the State of Vermont is rich in its historic heritage, its cultural offerings, the renown of it…

§ 652. Travel and Recreation Council; membership (a) The Travel and Recreation Council is created. It shall comprise the following members: (1) the Secretary of Commerce and Community Development or designee; (2) the Secretary of Natural Resources or designee; (3) the Secretary o…

§ 653. Travel and Recreation Council; functions (a) The Council shall advise the Secretary of Commerce and Community Development, and the Secretary shall consult with the Council, on matters relating to State travel and recreation policy, State travel and recreation promotion pro…

§ 661. Travel promotion matching fund program There is established a travel promotion matching fund program to serve the following purposes: (1) to allow the State of Vermont to provide part of the funds necessary for a travel promotion chamber or association to conduct promotion…

§ 662. Allocation of funds (a) Within the limits of available funding, for every dollar raised by the private sector for travel promotion under the provisions of this chapter, the State will provide one dollar in matching funds to be allocated as follows: (1) 75 percent of the St…

§ 663. Administration (a) The Department of Economic Development, through the Vermont Department of Tourism and Marketing, shall administer the travel promotion matching funds program with such flexibility so as to bring about the most effective and economical travel promotion pr…

§ 664. Application procedures (a) Travel promotion organizations, applying for a matching fund grant, must present their proposed travel development promotion programs to the Vermont Department of Tourism and Marketing in detail, and must further describe sources of local funds a…

§ 665. Bookkeeping systems All tourist promotion organizations will keep records of any applications, transactions, payment receipts, and correspondence relating to the implementation of the matching funds program. (Added 1979, No. 137 (Adj. Sess.), § 2, eff. April 22, 1980.)