Brad James shared with the House Ways & Means Committee on Tuesday that now 73% of districts are reporting (a significant jump from last week). With the latest budgets, the Agency is now showing an 8.2% increase from FY2024. Champlain Valley and Burlington are still not in yet, which are both large budgets and could sway the final numbers. James noted that if both went up by 10% it would increase the statewide average to 8.4%.

The Senate Natural Resources Committee came back to S.5 on Thursday for mark-up of the bill. Chairman Bray thought they were dealing with mostly just minor corrections at this point, fixing typos and minor date changes, etc. Larger discussion points were deferred until later.

Matt Dunne testified in front of the Senate Economic Development Committee Friday morning.

Key takeaways:

• Flexibility is needed
• Every community is different
• There have been significant shifts in winners/losers over the past 40 years

The Senate Economic Development Committee heard from more experts on Friday regarding their Omnibus Housing Bill.

Key Takeaways:

• Permitting takes too long and is duplicative.
• The housing market is changing.
• Vermonters support expanding population and housing.

The Senate Natural Resources Committee returned to testimony on S.5 Wednesday, hearing from Judy Dow (Executive Director, Gedakina) who called out the Committee for listening to “only Jared Duval.” Listening to only one story is a mistake. 

The House Education Committee met on Wednesday morning to discuss an outline of the potential committee bill around Vermont’s town tuitioning program.

The Senate Economic Development Committee heard from Maura Collins on Wednesday about Low-Income Housing Tax Credits (LIHTC) funds.

Key Takeaways:

• VHFA is proposing a revolving loan fund as a less-complex alternative to LIHTC.
• Employers from all industries are getting squeezed by the housing crisis.
• Construction costs have doubled since 2016.

Legislative counsel reviewed the House Education Committee bill changes (Draft 1.1) on Tuesday that deals with reporting for the Vermont State Colleges (VSC). It is very similar to the house passed version of H.456 in 2022.

The Senate Natural Resources Committee kicked off the week hearing from Kathy Beyer (Senior Vice President of Real Estate Development, Evernorth). Evernorth is working in ME, NH, and VT and consider themselves leaders in energy efficiency and renewables – connecting apartment units to advanced wood heating systems, solar hot water, solar PV, geothermal and heat pumps. They are focused on energy equity, which, according to Beyer, Vermont lags behind on implementation of energy equity. Other states in the region are ahead of us.