Vermont H 445: An act relating to developing a strategy for addressing the unaffordability of health insurance

Bill Text

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VT LEG #380430 v.1
H.445 1
Introduced by Representatives Cina of Burlington, Burrows of West Windsor, 2
Carris-Duncan of Whitingham, Christie of Hartford, Cole of 3
Hartford, LaMont of Morristown, and Logan of Burlington 4
Referred to Committee on 5
Date: 6
Subject: Conservation and development; Land Access and Opportunity Board; 7
affordable housing; taxation; income tax 8
Statement of purpose of bill as introduced: This bill proposes to create the 9
Land Access and Opportunity Revolving Fund to be administered by the Land 10
Access and Opportunity Board for the purpose of supporting community based 11
affordable housing. The bill proposes to fund the activities of the Revolving 12
Fund through an income tax surcharge of one and one-half percent on income 13
above $500,000.00, which will be repealed in 2031. 14
An act relating to creating the Land Access and Opportunity Revolving 15
Fund 16
It is hereby enacted by the General Assembly of the State of Vermont: 17
Sec. 1. PURPOSE 18
It is the intent of the Vermont General Assembly to support the human right 19
of housing and to promote public health and community safety during recovery 20

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VT LEG #380430 v.1
from the COVID-19 pandemic, the polysubstance pandemic, and climate 1
disasters by preserving affordable housing and creating new social and 2
economic opportunities for the development and maintenance of sustainable, 3
resilient, and affordable housing infrastructure. It is the intent of this act to 4
focus State, municipal, and private resources on assisting tenants recovering 5
from emergencies and on ensuring that, in the long term, Vermonters have an 6
adequate supply of safe, affordable housing, including more opportunities for 7
access and ownership of land and community resources. 8
Sec. 2. 32 V.S.A. § 435(b) is amended to read: 9
(b) The General Fund shall be composed of revenues from the following 10
sources: 11
* * * 12
(5) individual income taxes levied pursuant to chapter 151 of this title, 13
except for revenue levied and transferred pursuant to subdivision 5822(a)(7) of 14
this title; 15
* * * 16
Sec. 3. 32 V.S.A. § 5822 is amended to read: 17
§ 5822. TAX ON INCOME OF INDIVIDUALS, ESTATES, AND TRUSTS 18
(a) A tax is imposed for each taxable year upon the taxable income earned 19
or received in that year by every individual estate, and trust, subject to income 20

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VT LEG #380430 v.1
taxation under the laws of the United States, in an amount determined by the 1
following tables, and adjusted as required under this section. 2
* * * 3
(7)(A) If the federal adjusted gross income of the taxpayer exceeds 4
$500,000.00, then the rate of taxation under subdivisions (1)–(6) of this 5
subsection (a) on income over that amount shall be increased by one and one-6
half percent. 7
(B) Each year, on July 1, the Department of Finance and 8
Management shall estimate the amount of revenue raised under subdivision 9
(A) of this subdivision (7) in the prior taxable year and that same amount shall 10
be transferred from the General Fund to the Land Access and Opportunity 11
Revolving Fund created under 10 V.S.A. § 325w. 12
Sec. 4. 10 V.S.A. chapter 15, subchapter 5 is amended to read: 13
Subchapter 5. Land Access and Opportunity Board 14
§ 325t. DEFINITIONS 15
As used in this subchapter: 16
(1) “Board” means the Vermont Land Access and Opportunity Board. 17
(2) “Fund” means the Land Access and Opportunity Revolving Fund. 18
(3) “Historically marginalized or disadvantaged community” means a 19
community that has historically suffered from discrimination and has not had 20
equal access to public or private economic benefits due to the race, ethnicity, 21

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gender, geography, language preference, immigrant or citizen status, sexual 1
orientation, gender identity, socioeconomic status, or disability status of its 2
members. 3
(3)(4) “LGBTQ” means an individual who identifies as lesbian, gay, 4
bisexual, transgender, queer, or questioning. 5
(4)(5) “VHCB” means the Vermont Housing and Conservation Board. 6
§ 325u. VERMONT LAND ACCESS AND OPPORTUNITY BOARD 7
(a) Creation. There is created the Vermont Land Access and Opportunity 8
Board to promote improvements in access to woodlands, farmland, and land 9
and home ownership for Vermonters from historically marginalized or 10
disadvantaged communities who continue to face barriers to land and home 11
ownership. The Board shall be attached to the Vermont Housing and 12
Conservation Board for administrative purposes. 13
(b) Organization of Board. The Board shall be composed of: 14
* * * 15
(10) one member, appointed by the Vermont Developmental Disabilities 16
Council; and 17
(11) one member, appointed by Vermont Psychiatric Survivors 18
MadFreedom, Inc; and 19
(12) one member, appointed by Migrant Justice. 20
* * * 21

BILL AS INTRODU