Vermont H. 799: An act relating to notice of sale of property subject to unpaid property taxes

Bill Text

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VT LEG #386692 v.1
H.799 1
Introduced by Representatives Marcotte of Coventry, Bosch of Clarendon, 2
Boutin of Barre City, Carris Duncan of Whitingham, Duke of 3
Burlington, Graning of Jericho, Micklus of Milton, Olson of 4
Starksboro, Priestley of Bradford, and White of Bethel 5
Referred to Committee on 6
Date: 7
Subject: Education; grants, scholarships, and education loan programs; Free 8
Degree Promise Program 9
Statement of purpose of bill as introduced: This bill proposes to create the 10
Free Degree Promise Program to provide financial support to eligible Vermont 11
high school graduates to complete an accelerated associate’s degree at the 12
Community College of Vermont (CCV) after completing the CCV Early 13
College program. It also proposes to amend the Vermont Education 14
Endowment Trust Fund to include the Vermont Student Assistance 15
Corporation as a recipient of funds as well as add the Treasurer to the Vermont 16
Education Endowment Trust Fund Council as the Council’s chair. 17
An act relating to the Free Degree Promise Program 18

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VT LEG #386692 v.1
It is hereby enacted by the General Assembly of the State of Vermont: 1
Sec. 1. FINDINGS AND PURPOSE 2
(a) Findings. The General Assembly finds that: 3
(1) increasing access to postsecondary credentials is critical to 4
Vermont’s economy and workforce; 5
(2) the Free Degree Promise Program provides tuition-free community 6
college degrees to Vermont high school graduates; and 7
(3) a reliable State funding source should be established to sustain the 8
Program. 9
(b) Purpose. The purpose of this act is to codify the Free Degree Promise 10
Program in statute and designate the Vermont Higher Education Endowment 11
Trust Fund as an annual funding source for the Program. The goals of the 12
Program include reducing student debt, increasing degree attainment, 13
supporting workforce needs, and expanding equitable access to postsecondary 14
education. With data showing that an associate’s degree in Vermont has the 15
highest return on investment than anywhere else in the country, a free, fast-16
tracked path to an associate’s degree is a smart, targeted investment in 17
Vermont’s future. 18

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VT LEG #386692 v.1
Sec. 2. 16 V.S.A. chapter 87, subchapter 6 is added to read: 1
Subchapter 6. Free Degree Promise Program 2
§ 2871. FREE DEGREE PROMISE PROGRAM 3
(a) Program established. There is established the Free Degree Promise 4
Program (Program) to provide financial support to eligible Vermont high 5
school graduates to complete an accelerated associate’s degree at the 6
Community College of Vermont (CCV) after completing the CCV Early 7
College program during their senior year of high school. The Program shall: 8
(1) cover tuition and fees after any federal and State financial aid; 9
(2) provide enhanced career and education advising; and 10
(3) provide stipends to help with books, transportation, and other costs 11
associated with going to college. 12
(b) Eligibility. To be eligible for the Free Degree Promise Program, a 13
student shall: 14
(1) successfully complete the Early College program at CCV with at 15
least 20 college credits; and 16
(2) complete the FAFSA and Vermont Grant application. 17
(c) Rules. In accordance with 3 V.S.A. chapter 25, the Commissioner of 18
Labor, in consultation with CCV, shall adopt rules to further define Program 19
eligibility criteria, including residency, graduation year cohorts, academic 20

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VT LEG #386692 v.1
requirements, award amounts, enrollment processes, and compliance 1
requirements consistent with the goals of the Program. 2
(d) Administration. CCV shall administer the Program, including outreach, 3
student services, and reporting. 4
Sec. 3. 16 V.S.A. § 2885 is amended to read: 5
§ 2885. VERMONT HIGHER EDUCATION ENDOWMENT TRUST FUND 6
* * * 7
(b) The State Treasurer may invest the monies in the Fund. 8
(c) In August September of each fiscal year, beginning in the year 2000 9
2029, the State Treasurer shall withdraw and divide an amount equal to five 10
percent of the assets equally among the University of Vermont, the Vermont 11
State Colleges, and the Vermont Student Assistance Corporation. In this 12
subsection, “assets” means the average of the Fund’s market values at the end 13
of each quarter for the most recent 12 quarters or all quarters of operation, 14
whichever is less. Therefore, up to five percent of the Fund assets are hereby 15
annually allocated pursuant to this section, provided that the amount allocated 16
shall not exceed an amount that would bring the Fund balance below the initial 17
funding made in fiscal year 2000 plus any additional contributions to the 18
principal. The University of Vermont and the Vermont State Colleges shall 19
use the funds to provide nonloan financial aid to Vermont students attending 20
their in