Vermont H 567: An act relating to the regulation of short-term rentals by municipalities

Bill Text

No. 131 Page 1 of 34
2026

VT LEG #390203 v.1
No. 131. An act relating to unclaimed property, State retirement systems,
and capital debt.
(H.567)
It is hereby enacted by the General Assembly of the State of Vermont:
* * * Unclaimed Property * * *
Sec. 1. 27 V.S.A. § 1492 is amended to read:
§ 1492. CONTENT OF REPORT
(a) The report required under section 1491 of this title must:
(1) be signed by or on behalf of the holder and verified as to its
completeness and accuracy;
(2) if filed electronically, be in a secure format approved by the
Administrator that protects confidential information of the apparent owner in
the same manner as required of the Administrator and the Administrator’s
agent under subchapter 14 of this chapter;
(3) describe the property;
(4) except for a traveler’s check, money order, or similar instrument,
contain the name, if known; last-known address, if known; and Social Security
number or taxpayer identification number, if known or readily ascertainable, of
the apparent owner of property with a value of $50.00 or more;
(5) for an amount held or owing under a life, medical, or endowment
insurance policy or annuity contract, contain the name and last-known address
of the insured, annuitant, or other apparent owner of the policy or contract and
of the beneficiary, as well as any explanation of benefit numbers;

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2026

VT LEG #390203 v.1
* * *
Sec. 2. 27 V.S.A. § 1543 is amended to read:
§ 1543. EXPENSES AND SERVICE CHARGES OF ADMINISTRATOR
Before making a deposit of funds received under this chapter to the General
Fund, the Administrator may deduct:
(1) expenses of disposition of property delivered to the Administrator
under this chapter;
(2) costs of mailing and publication in connection with property
delivered to the Administrator under this chapter;
(3) reasonable service charges;
(4) expenses incurred in examining records of or collecting property
from a putative holder or holder; and
(5) property valued at $100.00 $150.00 or less more than 10 years after
the abandoned property was received from the holder under subchapter 6 of
this chapter shall be paid by the.
(A) The Administrator shall deposit funds deducted under this
subdivision (5) into the Vermont Retirement Security Fund created by 3
V.S.A. § 534 up to a maximum annual total of $300,000.00.
(B) Notwithstanding subdivision (A) of this subdivision (5), in the
Administrator’s sole discretion, funds deducted under this subdivision (5) may
be deposited into the Vermont Higher Education Endowment Trust Fund
created by 16 V.S.A. § 2885 under authority of this subdivision, provided that

No. 131 Page 3 of 34
2026

VT LEG #390203 v.1
not more than a combined total of $300,000.00 shall be deposited into the
Funds in a given year.
(C) For purposes of this subdivision, the value of the abandoned
property shall be that value as of the date the property was received from the
holder by the Administrator.
Sec. 3. 27 V.S.A. § 1543(5) is amended to read:
(5) property valued at $150.00 or less more than 10 years after the
abandoned property was received from the holder under subchapter 6 of this
chapter.
(A) The Administrator shall deposit funds deducted under this
subdivision (5) into the Vermont Retirement Security Fund created by 3
V.S.A. § 534 Vermont Higher Education Endowment Trust Fund created by
16 V.S.A. § 2885 up to a maximum annual total of $300,000.00.
(B) Notwithstanding subdivision (A) of this subdivision (5), in the
Administrator’s sole discretion, funds deducted under this subdivision (5) may
be deposited into the Vermont Higher Education Endowment Trust Fund
created by 16 V.S.A. § 2885, provided that not more than a combined total of
$300,000.00 shall be deposited into the Funds in a given year. [Repealed.]
(C) For purposes of this subdivision, the value of the abandoned
property shall be that value as of the date the property was received from the
holder by the Administrator.

No. 131 Page 4 of 34
2026

VT LEG #390203 v.1
Sec. 4. 27 V.S.A. § 1553 is amended to read:
§ 1553. CLAIM FOR PROPERTY BY PERSON CLAIMING TO BE
OWNER
(a) A person claiming to be the owner of property held under this chapter
by the Administrator may file a claim for the property on a form prescribed by
the Administrator. The claimant must verify the claim as to its completeness
and accuracy.
(b) The Administrator may waive the requirement in subsection (a) of this
section and may pay or deliver property directly to a person if:
(1) the person receiving the property or payment is shown to be the
apparent owner included on a report filed under section 1491 of this title;
(2) the Administrator reasonably believes the person is entitled to
receive the property or payment; and
(3) the property has a value of less than $250.00 1,000.00.
Sec. 5. 27 V.S.A. § 1557 is amended to read:
§ 1557. DECEASED OWNERS; MULTIPLE CLAIMANTS
(a) If the Administrator holds unclaimed property in the name of a
deceased owner, the Administrator may deliver the prope