Chairwoman Kornheiser started the conversation by asking the Joint Fiscal Office (JFO) to walk through the policy options available to the Committee to mitigate the impacts of the project property tax increase.

Maura Collins (Executive Director, Vermont Housing Finance Agency) presented to the Senate Economic Development Committee on Tuesday, noting that this year the Vermont Housing and Finance Agency (VHFA) is celebrating 50 years.

The loans they provide end up going to 94% first time homebuyers. 70% are also offered down payment assistance etc. The median borrower income is $67,950. They also offer rental housing development along with the Vermont Housing & Conservation Board.

Christina Sivret (Executive Director, Vermont State Ethics Commission) testified on two draft bills in the House Government Operations Committee on Tuesday.

The House General & Housing Committee met on Tuesday with Kathleen Berk (Executive Director, Vermont State Housing Authority) who had sent a letter to the Committee the week before.

The House Commerce Committee took up the workforce investment system & registered apprenticeship program annual report on Tuesday. Because the full report is 70 pages, Chairman Marcotte asked that a summary of the report be provided to the Committee.

JANUARY 15, 2024

The Senate Health and Welfare Committee reviewed S.211 on Friday. Senators Lyons, Clarkson, and Kitchel had sponsored the bill.

The House Ways & Means Committee reviewed H.679 on Friday morning with Representative Stevens, the sponsor. He recognized that changing the use of the Property Transfer Tax (PTT) is a political decision, but he feels the state needs to start addressing the housing crisis with these funds. He is proposing to create a surcharge for properties over $600k of 2.0% (an increase from 1.5%).

The Senate Finance Committee had the Joint Fiscal Office (JFO) review S.160 on Friday afternoon to review a fiscal note on the bill. The bill would reimburse municipalities for education property tax payments to property owners who had their properties damaged during this past year’s flooding events.