House Gives Preliminary Approval to FY20 Budget and Revenue Bills

28 March 2019

For Immediate Release

March 28, 2019

 

Contact: Katherine Levasseur

(802) 828-2245

KLevasseur@leg.state.vt.us

 

VERMONT HOUSE GIVES PRELIMINARY APPROVAL TO FISCAL YEAR 2020 STATE BUDGET AND REVENUE BILLS

 

The Vermont House gave preliminary approval to the Fiscal Year 2020 Budget, H.542, today on a vote of 139-1.

 

“It’s upon every one of us to leave this state better than we found it and we must take pride in continuing to work toward that goal,” said House Appropriations Chair, Representative Kitty Toll (D-Danville). “The budget addresses needs of vulnerable Vermonters, makes critical investments in our communities and in our child care system, as well as important funding for broadband coverage and workforce development, all while maintaining fiscal responsibility by using current funds for current expenditures.”

 

Highlights of the budget investments include:

 

  • Supports a 2% increase for Home and Community Based Providers, including Home Health Agencies, Adult Day Providers, Meals on Wheels, and a TBI Waiver service provider.

  • Increases investment in Vermont’s child care funding with a $10.5 million increase to Vermont’s child care and early learning system.

  • Sustains workforce development training and relocation costs, allocating $1.6 million to this program.

  • Adds $3 million to the base funding of the Vermont State Colleges system, sustaining our commitment to higher education.

 

The House also gave preliminary approval to the Revenue Bill, H.541, today on a voice vote.

 

Representative Janet Ancel (D-Calais), Chair of the House Ways and Means Committee said, “the Revenue Bill creates better clarity for Vermonters and increases compliance for all taxpayers. The bill raises $4.5 million for the General Fund, $930,000 for the Education Fund, and $2.2 million for special funds including the PILOT and Clean Water Funds. This bill raises the funds needed to support the state budget, while increasing compliance and leveling the playing field for Vermont taxpayers. The Ways and Means Committee gave this bill unanimous, bipartisan support.”

 

Highlights of the Revenue Bill include:

 

  • Expands the Affordable Housing Tax Credit and the First Time Homebuyer Tax Credit by $125,000 each, ensuring more Vermonters can benefit from these housing programs.

  • Increases compliance for rooms and meals tax by including online travel agencies in the underlying statute.

  • Redefines the land gains tax to include only land purchased and subdivided within six years prior to the sale or exchange. This also exempts land transferred in a downtown development district, a village center, or new town center development.

“The budget and revenue bill reflect many of our top priorities in the House,” added House Speaker Mitzi Johnson (D-South Hero). “These bills make targeted investments in the critical programs that ensure our state government is working as effectively and efficiently as possible for the Vermonters it serves. We’ve worked hard to ensure we are supporting policies that make a Vermont that works for all of us, not just the select few. When we work to create a Vermont where our families and communities can thrive and where the Vermont dream is accessible to everyone, we boost the economy and build stronger, healthier communities.”

 

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