reglab/statecodes huggingface dataset:
2023 Vermont Statutes › Title 31 - Recreation and Sports › Chapter 25 - Sports Wagering › § 1330. Definitions

§ 1330. Definitions
As used in this subchapter:
(1) “Computer script” means a list of commands that can be executed by a program, scripting engine, or similar mechanism that a fantasy sports player can use to automate participation in a fantasy sports contest.
(2) “Confidential fantasy sports contest information” means nonpublic information available to a fantasy sports operator that relates to a fantasy sports player’s activity in a fantasy sports contest and that, if disclosed, may give another fantasy sports player an unfair competitive advantage in a fantasy sports contest.
(3) “Fantasy sports contest” means a virtual or simulated sporting event governed by a uniform set of rules adopted by a fantasy sports operator in which:
(A) a fantasy sports player may earn one or more cash prizes or awards, the value of which a fantasy sports operator discloses in advance of the contest;
(B) a fantasy sports player uses the player’s knowledge and skill of sports data, performance, and statistics to create and manage a fantasy sports team;
(C) a fantasy sports team earns fantasy points based on the sports performance statistics accrued by individual athletes or teams, or both, in real world sporting events;
(D) the outcome is determined by the number of fantasy points earned; and
(E) the outcome is not determined by the score, the point spread, the performance of one or more teams, or the performance of an individual athlete in a single real world sporting event.
(4) “Fantasy sports operator” means a person that offers to members of the public the opportunity to participate in a fantasy sports contest for consideration.
(5) “Fantasy sports player” means an individual who participates in a fantasy sports contest for consideration.
(6) “Location percentage” mean the percentage, rounded to the nearest tenth of a percent, of the total of all entry fees collected from fantasy sports players located in Vermont, divided by the total entry fees collected from all fantasy sports players in fantasy sports contests.
(7) “Net fantasy sports contest revenues” means the amount equal to the total of all entry fees that a fantasy sports operator collects from all fantasy sports players, less the total of all sums paid out as winnings to all fantasy sports players, multiplied by the location percentage for Vermont. (Added 2023, No. 63, § 1, eff. June 14, 2023.)
2023 Vermont Statutes › Title 31 - Recreation and Sports › Chapter 25 - Sports Wagering › § 1332. Fair and truthful advertising

§ 1332. Fair and truthful advertising
(a) A fantasy sports operator shall not depict in an advertisement to consumers in this State:
(1) minors, other than professional athletes who may be minors;
(2) students;
(3) schools or colleges; or
(4) school or college settings, provided that an incidental depiction of nonfeatured minors does not violate this section.
(b) A fantasy sports operator shall not state or imply in an advertisement to consumers in this State endorsement by:
(1) minors, other than professional athletes who may be minors;
(2) collegiate athletes;
(3) colleges; or
(4) college athletic associations.
(c)(1) A fantasy sports operator shall include in an advertisement to consumers in this State information concerning assistance available to problem gamblers or shall direct consumers to a reputable source of that information.
(2) If an advertisement is of insufficient size or duration to provide the information required in subdivision (1) of this subsection, the advertisement shall refer to a website or application that does prominently include such information.
(d) A fantasy sports operator shall only make representations concerning winnings that are accurate, not misleading, and capable of substantiation at the time of the representation. For purposes of this subsection, an advertisement is misleading if it makes representations about average winnings without equally prominently representing the average net winnings of all players. (Added 2023, No. 63, § 1, eff. June 14, 2023.)
2023 Vermont Statutes › Title 31 - Recreation and Sports › Chapter 25 - Sports Wagering › § 1333. Registration

§ 1333. Registration
On or before October 15 of each year in which a fantasy sports operator offers a fantasy sports contest to consumers in this State, the operator shall file an annual registration with the Department on a form adopted for that purpose and pay to the Department an annual registration fee in the amount of $5,000.00. (Added 2023, No. 63, § 1, eff. June 14, 2023.)
2023 Vermont Statutes › Title 31 - Recreation and Sports › Chapter 25 - Sports Wagering › § 1334. Enforcement

§ 1334. Enforcement
(a) A person that violates a provision of this chapter commits an unfair and deceptive act in commerce in violation of 9 V.S.A. § 2453.
(b) The Attorney General has the authority to adopt rules to implement the provisions of this chapter and to conduct civil investigations, enter into assurances of discontinuance, and bring civil actions as provided under 9 V.S.A. chapter 63, subchapter 1. (Added 2023, No. 63, § 1, eff. June 14, 2023.)
2023 Vermont Statutes › Title 31 - Recreation and Sports › Chapter 25 - Sports Wagering › § 1341. Sports Wagering Enterprise Fund

§ 1341. Sports Wagering Enterprise Fund
(a) The Sports Wagering Enterprise Fund is established. It shall consist of all revenues and fees received by the Department pursuant to this chapter and all amounts that are from time to time appropriated to the Department for purposes of this chapter.
(b) The Department’s administrative and operating costs shall be allocated to and paid from the Fund based on generally accepted accounting principles. (Added 2023, No. 63, § 1, eff. June 14, 2023.)
2023 Vermont Statutes › Title 31 - Recreation and Sports › Chapter 25 - Sports Wagering › § 1341a. Problem Gambling Program

§ 1341a. Problem Gambling Program
(a) The Department of Mental Health shall establish and administer the Problem Gambling Program to:
(1) provide support to agencies, organizations, and persons that provide education, assistance, awareness, treatment, and recovery services to persons and families experiencing difficulty as a result of addictive or problematic gambling;
(2) promote public awareness of and provide education concerning gambling addiction using online capabilities and other best practices; and
(3) promote public awareness of assistance programs for gambling addiction using online capabilities and other best practices.
(b) On or before January 15 of each year, the Department of Mental Health shall submit to the General Assembly a report detailing the expenditures related to the Problem Gambling Program in the preceding fiscal year and summarizing the programs and activities supported by those expenditures. (Added 2023, No. 63, § 1, eff. June 14, 2023.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 1 - General Provisions › § 1. Fiscal year and biennial period

§ 1. Fiscal year and biennial period
The fiscal year shall commence on July 1 and end on June 30, but the accounts of the June terms of court shall be carried forward to the succeeding fiscal year. Each two consecutive fiscal years shall constitute a biennial period.
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 1 - General Provisions › § 2. F.H.A. securities as collateral

§ 2. F.H.A. securities as collateral
Wherever collateral must or may be furnished by any depository in the State of Vermont as security for the deposit of any funds whatsoever, or wherever collateral must or may be deposited with any official of the State of Vermont pursuant to any statute of this State, mortgage notes and bonds insured and debentures issued by the Federal Housing Administrator shall be considered eligible collateral for such purposes.
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 1 - General Provisions › § 3. Change in fiscal quarters authorized

§ 3. Change in fiscal quarters authorized
Whenever by law an officer, whether State, county, or municipal and whether executive or judicial, is required to pay or turn over money or make a report to the State Treasurer or any other State official, department, institution, or agency on a quarterly basis, the Governor may by executive order require that the money be paid or turned over or the return or report be filed on such dates as the Governor shall designate, which dates shall be three months apart, any other provision of law notwithstanding. Before making the change, he or she shall give at least three months notice thereof by sending a copy of the executive order by personal delivery or certified mail to each officer required to make the payment, return, or report. (Added 1959, No. 328 (Adj. Sess.), § 20.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 1 - General Provisions › § 6. Indirect costs

§ 6. Indirect costs
(a) All State agencies and departments shall prepare and submit to the appropriate federal agency indirect cost rate proposals for the reimbursement of departmental and statewide indirect costs unless specifically exempted in writing by the Secretary of Administration.
(b) Requests for federal funds shall include a specific request for reimbursement of indirect costs. Awards of statewide indirect costs will be deposited into the General Fund, except statewide indirect costs will be deposited into the Transportation Fund for costs recovered by the Agency of Transportation. The Commissioner of Finance and Management may authorize departments to retain recovered indirect cost receipts. (Added 1979, No. 205 (Adj. Sess.), § 137, eff. May 9, 1980; amended 1999, No. 1, § 92, eff. March 31, 1999; 2011, No. 162 (Adj. Sess.), § E.102.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 3 - Fiscal Officers and Commissions › § 101. Communications to Governor and Assembly

§ 101. Communications to Governor and Assembly
The Treasurer shall prepare an annual financial report and shall submit to the Governor and either house of the General Assembly: abstracts; copies of accounts or official documents of any kind; and information relating to revenue, official transactions, and the Department of the Treasury. (Amended 1965, No. 158, § 2; 1971, No. 13, § 1, eff. Feb. 25, 1971; 2017, No. 74, § 131.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 3 - Fiscal Officers and Commissions › § 102. Embezzlements

§ 102. Embezzlements
If the Treasurer diverts, misapplies, or conceals the public treasure, he or she shall be fined double the amount so diverted, misapplied, or concealed and shall be imprisoned not more than 10 years nor less than two years.
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 3 - Fiscal Officers and Commissions › § 103. Account with successor

§ 103. Account with successor
If the Treasurer goes out of office, the Treasurer shall exhibit to the Treasurer’s successor a true and particular account of the money received and paid out since the last examination of the Treasurer’s books and accounts as provided in section 801 of this title, and, within 10 days after the Treasurer’s successor is declared elected or is appointed, with the successor and the Auditor, the Treasurer shall adjust and strike the balance found against the Treasurer within such time as is prescribed by the Auditor, or be liable for that balance to the State in a civil action. (Amended 2021, No. 105 (Adj. Sess.), § 437, eff. July 1, 2022.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 3 - Fiscal Officers and Commissions › § 106. Penalty for refusal to settle

§ 106. Penalty for refusal to settle
After demand made by the Auditor, if such retiring Treasurer refuses to exhibit and settle his or her account, he or she shall be fined $2,000.00 for each month’s refusal.
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 3 - Fiscal Officers and Commissions › § 107. Books and records delivered to successor

§ 107. Books and records delivered to successor
At the time of adjusting his or her account or within 10 days after his or her term of office expires, such retiring Treasurer shall deliver to his or her successor the books of account, memorandum or registry, the bonds, bills, notes, obligations, contracts, securities, and other instruments or papers belonging to the State Treasury and, for each month’s default thereof, shall be fined $2,000.00.
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 3 - Fiscal Officers and Commissions › § 109. Solicitations and contributions prohibited

§ 109. Solicitations and contributions prohibited
(a) As used in this section:
(1) “Firm” means any person or entity that provides investment services and includes the owner of the firm, excluding those shareholders owning less than one percent holdings in the firm’s outstanding shares, and all managers, officers, directors, partners, or employees who have managerial or discretionary responsibility to invest funds, manage funds, or provide investment services.
(2) “Investment services” means legal services, investment banking services, investment advisory services, underwriting services, financial advisory services, or brokerage firm services for brokerage, underwriting, and financial advisory activities that are within the statutory purview of the Treasurer.
(3) “Treasurer” means the Treasurer of the State of Vermont.
(b) A firm that currently has a contract with the State Treasurer or a political committee established by that firm shall not make a contribution to, or solicit contributions on behalf of, a candidate for the Office of Treasurer. A violation of this subsection shall be considered a material breach and a default by the firm of any contract issued to it by the Treasurer. Upon the occurrence of such a material breach and default, the Treasurer shall notify the firm of the State’s intention to terminate the firm’s contract. The Treasurer shall forthwith seek to reissue the contract to another person or entity in accordance with existing law and procedures. This subsection shall not preclude the payment of compensation, expenses or fees to a firm that has violated this subsection regarding work performed or expenses incurred prior to the date the contract is terminated.
(c) The Treasurer shall not enter into any contract with any firm if the firm or a political committee established by that firm has made a contribution or solicited contributions on behalf of a candidate for the Office of Treasurer after July 1, 1997 and within five years of the date of the contract. (Added 1997, No. 64, § 26.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 3 - Fiscal Officers and Commissions › § 110. Reports

§ 110. Reports
(a) The Treasurer shall prepare and submit, consistent with 2 V.S.A. § 20(a), reports on the following subjects:
(1) The Vermont Higher Education Endowment Trust Fund, pursuant to 16 V.S.A. § 2885(e).
(2) [Repealed.]
(3) The Trust Investment Account, pursuant to subdivision 434(a)(5) of this title.
(4), (5) [Repealed.]
(b) Reports required to be submitted to the General Assembly annually by January 15 shall be consolidated in a single document. (Added 2003, No. 122 (Adj. Sess.), § 294b; amended 2009, No. 33, § 83(m)(1); 2011, No. 139 (Adj. Sess.), § 31, eff. May 14, 2012.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 3 - Fiscal Officers and Commissions › § 111. Financial Literacy Trust Fund

§ 111. Financial Literacy Trust Fund
(a) There is hereby established and created a fund entitled the Financial Literacy Trust Fund to be administered by the State Treasurer. The purpose of the Fund is to promote the adoption of fiscally sound money management practices by Vermonters through education and outreach efforts that raise awareness of the need for and benefits of practicing such skills and to create opportunities to build and encourage the development of new financial literacy activities and educational products for Vermont citizens.
(b) The Fund may receive State appropriations, gifts, grants, federal funds, and any other funds, both public and private, consistent with this section. The Funds may be expended for financial literacy projects as the Treasurer may direct, in accordance with the trust fund provisions of section 462 of this title.
(c) The Treasurer may invest monies in the Fund in accordance with the provisions of section 434 of this title. All balances in the Fund at the end of the fiscal year shall be carried forward and shall not revert to the General Fund. Interest earned shall remain in the Fund. The Treasurer’s annual financial report to the Governor and the General Assembly shall contain an accounting of receipts, disbursements, and earnings of the Fund. (Added 2007, No. 192 (Adj. Sess.), § 6.009.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 3 - Fiscal Officers and Commissions › § 131. Composition

§ 131. Composition
There shall be an Emergency Board to consist of the Governor, the Chair of the Senate Committee on Finance, the Chair of the Senate Committee on Appropriations, the Chair of the House Committee on Ways and Means, and the Chair of the House Committee on Appropriations; but the Chair of any one of such committees may designate a member of his or her committee who shall be a member of such Board in lieu of the Chair. The Board shall meet at the call of the Governor or a majority of the legislative members of the Board. (Amended 2017, No. 85, § C.116, eff. June 28, 2017.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 3 - Fiscal Officers and Commissions › § 132. Chair and Secretary

§ 132. Chair and Secretary
The Governor shall be Chair, and the Secretary of Civil and Military Affairs shall be Secretary of the Board. The Secretary shall keep the minutes of each meeting of the Board in a book kept for that purpose, and such minutes shall be a public record, and certified copies of such record shall be furnished the Auditor and the Treasurer.
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 3 - Fiscal Officers and Commissions › § 133. Duties

§ 133. Duties
(a) The Board shall have authority to make expenditures necessitated by unforeseen emergencies and may draw on the State’s General Fund for that purpose.
(b) Pursuant to section 706 of this title, the Board shall also have authority to transfer appropriations made to other agencies and to use the transferred amounts to make expenditures necessitated by unforeseen emergencies.
(c) In a fiscal year, the sum of the Board’s expenditures under subsections (a) and (b) of this section shall not exceed two percent of the total General Fund appropriation for the year of the expenditures. (Amended 2007, No. 65, § 287.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 3 - Fiscal Officers and Commissions › § 134. Insurance Reserve Fund

§ 134. Insurance Reserve Fund
The Insurance Reserve Fund is hereby created. All funds paid to the State under property insurance policies for the benefit of the State for losses to real and personal property shall be paid into the Insurance Reserve Fund. (Amended 1961, No. 64, § 1, eff. April 7, 1961; 1995, No. 178 (Adj. Sess.), § 422, eff. May 22, 1996.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 3 - Fiscal Officers and Commissions › § 135. Use of Fund

§ 135. Use of Fund
When any building or property of the State is damaged by fire or other hazard, notwithstanding subdivision 588(4) of this title, the Board or, for amounts under $10,000.00, the Secretary of Administration, may at their discretion transfer from the Insurance Reserve Fund amounts for the purpose of replacing, repairing, or rebuilding the same, and for related losses. (Amended 1961, No. 64, § 2, eff. April 7, 1961; 1995, No. 178 (Adj. Sess.), § 423, eff. May 22, 1996.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 3 - Fiscal Officers and Commissions › § 164. Certified copies

§ 164. Certified copies
The Auditor shall be a certifying officer, and a certified copy of a record or paper belonging to the Auditor’s Department or that is lodged there by law shall be admitted as evidence by the courts in any cause, civil or criminal. The Auditor shall furnish copies of records or papers upon being paid the legal fees for the copies by the person requesting the copies. (Amended 2021, No. 105 (Adj. Sess.), § 438, eff. July 1, 2022.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 3 - Fiscal Officers and Commissions › § 166. Payments to towns; returns by Commissioner of Finance and Management

§ 166. Payments to towns; returns by Commissioner of Finance and Management
On or before January 10 of each year, the Commissioner of Finance and Management shall transmit to the auditors of each town a statement showing the amount of money paid by the State to the town and the purpose for which paid during the year ending December 31 preceding the date of such statement, the date of such payments, and purpose for which made, unless the Commissioner of Finance and Management is requested to send such statement at some other date to conform to the fiscal year of such municipality. (Added 1961, No. 40, § 1; amended 1969, No. 301 (Adj. Sess.), § 2, eff. April 9, 1970; 1983, No. 195 (Adj. Sess.), § 5(b); 2013, No. 142 (Adj. Sess.), § 55; 2015, No. 131 (Adj. Sess.), § 31.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 3 - Fiscal Officers and Commissions › § 167. Records to be available for audit

§ 167. Records to be available for audit
(a) For the purpose of examination and audit authorized by law, all the records, accounts, books, papers, reports, and returns in all formats of all departments, institutions, and agencies of the State, including the trustees or custodians of trust funds and all municipal, school supervisory union, school district, and county officers who receive or disburse funds for the benefit of the State, shall be made available to the Auditor of Accounts. It shall be the duty of each officer of each department, institution, and agency of the State or municipality, school supervisory union, school district, or county to provide the records, accounts, books, papers, reports, returns, and such other explanatory information when required by the Auditor of Accounts.
(b) In connection with any of his or her duties, the Auditor of Accounts may administer oaths and may subpoena any person to appear before him or her. Such persons shall testify under oath and be subject to the penalties of perjury and may be examined concerning any matter relating to the statutory duties of the Auditor provided by section 163 of this title. Nothing in this subsection shall limit a person’s Fifth Amendment rights against self-incrimination. (Added 1959, No. 328 (Adj. Sess.), § 19; amended 1969, No. 219 (Adj. Sess.), § 3, eff. March 27, 1970; 1971, No. 149 (Adj. Sess.); 2007, No. 121 (Adj. Sess.), § 24; 2007, No. 169 (Adj. Sess.), § 6.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 3 - Fiscal Officers and Commissions › § 168. Single Audit Revolving Fund

§ 168. Single Audit Revolving Fund
(a)(1) The Single Audit Revolving Fund is established within the State Treasury, to be administered by the Auditor of Accounts, from which payments may be made for the costs of audits performed pursuant to subdivisions 163(1), 163(2), and 5404a(l) of this title and 24 V.S.A. § 290b.
(2) All monies received from charges made for audit services under the provisions of subsection (b) of this section and sums that may be appropriated to the Fund shall be deposited in the Fund.
(3) Any balance remaining in the Fund at the end of any fiscal year shall be carried forward and remain a part of the Fund.
(b)(1) The Auditor of Accounts shall charge the State department, agency, commission, instrumentality, political subdivision, or State-created authority audited for the direct and indirect costs of an audit performed pursuant to subdivisions 163(1), 163(2), and 5404a(l) of this title and 24 V.S.A. § 290b.
(2) Costs shall be determined by the Auditor of Accounts and costs associated with subdivisions 163(1) and (2) of this title shall be approved by the Secretary of Administration. (Added 1985, No. 122 (Adj. Sess.), § 2, eff. April 17, 1986; amended 2005, No. 215 (Adj. Sess.), § 288; 2019, No. 104 (Adj. Sess.), § 2; 2019, No. 154 (Adj. Sess.), § E.130, eff. Oct. 2, 2020; 2021, No. 74, § E.130.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 3 - Fiscal Officers and Commissions › § 183. Financial and Human Resource Information Internal Service Fund

§ 183. Financial and Human Resource Information Internal Service Fund
(a) There is established in the Department of Finance and Management a Financial and Human Resource Information Internal Service Fund, to consist of revenues from charges to agencies, departments, and similar units of Vermont State government, and to be available to fund the costs of the Division of Financial Operations in the Department of Finance and Management, and the technical support and services provided by the Agency of Digital Services for the statewide central accounting and encumbrance, budget development, and human resource management systems.
(b) The rate of the charges shall be proposed by the Commissioner of Finance and Management, subject to the approval of the Secretary of Administration. Proposed rates of charges shall be based upon the cost of operations. (Added 2001, No. 142 (Adj. Sess.), § 309; amended 2003, No. 156 (Adj. Sess.), § 15; 2009, No. 1 (Sp. Sess.), § E.100.3; 2011, No. 63, § E.103; 2019, No. 49, § 11, eff. June 10, 2019.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 3 - Fiscal Officers and Commissions › § 202. Duties of Commissioner

§ 202. Duties of Commissioner
In addition to the duties expressly set forth elsewhere by law, the Commissioner of Finance and Management through the Commissioner’s Department shall:
(1) perform the following duties with respect to the budget:
(A) prepare an operating budget for the Governor-elect or Governor as provided by sections 301-307 of this title;
(B) prepare and install forms upon which departmental and capital budget requests are made;
(C) schedule and assist in hearings on departmental and agency requests;
(D) assist the Governor and, on request, the General Assembly on budget matters;
(E) exercise continuing supervision and study of budget procedures; and
(F) carry out expenditure control and budget-balancing policies and procedures as directed by the Secretary of Administration;
(2) perform the following duties with respect to fiscal management and management analysis:
(A) carry out continuing studies of the operation of existing or new State agencies and make recommendations to obtain most economic and effective management;
(B) assist departments on procedures and other problems of management;
(C) carry on a research program in the field of governmental and financial administration and analysis of State tax structure and yield; and
(D) study simplification and standardization of forms and methods in use in various departments for purposes of management and budget control;
(3) prepare estimates of State revenue and income when requested by the Governor; and
(4) provide the legislative Joint Fiscal Office on or before November 1 of the first fiscal year of each biennium and December 1 of the second fiscal year of each biennium copies of the most recent budget forms submitted by all governmental units in connection with annual or supplemental budget requests. (Added 1959, No. 328 (Adj. Sess.), § 3; amended 1969, No. 75, § 1; 1973, No. 144 (Adj. Sess.), § 1; 1979, No. 205 (Adj. Sess.), § 127, eff. May 9, 1980; 1985, No. 74, § 306, eff. May 28, 1985; 1987, No. 243 (Adj. Sess.), § 56, eff. June 13, 1988; 2021, No. 105 (Adj. Sess.), § 439, eff. July 1, 2022.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 5 - Budget › § 301. Department estimate and statement

§ 301. Department estimate and statement
(a) The head of every department of State, board, or commission, and any officer or individual having in charge any State activity for which funds are appropriated by the General Assembly, on or before September 1 preceding each biennium, shall file with the Commissioner of Finance and Management, upon forms prepared and furnished by the Commissioner of Finance and Management, statements showing in detail the amount appropriated and expended for the current and next preceding fiscal years, and the amount estimated for such activity to be necessary for the ensuing two fiscal years, properly arranged in detail by classification and summaries. Requests for items for any activity, purpose, or program not previously authorized by legislation shall not be included in those statements but shall be clearly stated on separate accompanying forms.
(b) Such statements shall also include an itemized account of the revenues of the State for the current fiscal year to date, the last two preceding fiscal years, and the estimated revenues for the ensuing two fiscal years, all in such manner and form as to show comparatively the revenues and expenditures of each of the periods so tabulated, with the ensuing two fiscal years.
(c) If any State department or agency fails to transmit the program and financial information provided under subsections (a) and (b) of this section on or before the specified date, the Agency of Administration may prepare that information with the same effect as if it had been prepared by the proper State department or agency. (Amended 1959, No. 328 (Adj. Sess.), § 4(a); 1965, No. 108; 1969, No. 14, No. 75, § 2; 1973, No. 144 (Adj. Sess.), § 2, eff. July 1, 1974; 1987, No. 243 (Adj. Sess.), § 57, eff. June 13, 1988.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 5 - Budget › § 302. Tabulation of estimates and statements

§ 302. Tabulation of estimates and statements
On or before November 15 preceding each biennium, the Commissioner of Finance and Management and the Secretary of Administration shall deliver to the Governor and to the Governor-elect, if they so request, statements of State accounts setting forth in tabulated form all appropriations and expenditures for the current fiscal year, all appropriations and expenditures for all State purposes for the last four preceding fiscal years, estimates of all claims against the State, and all expenditures from the State Treasury authorized by law, together with the estimates filed with them for the ensuing two fiscal years, under the provisions of subsection 301(a) of this title. (Amended 1959, No. 328 (Adj. Sess.), § 4(b); 1969, No. 75, § 3; 1971, No. 24; 1973, No. 144 (Adj. Sess.), § 3, eff. July 1, 1974.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 5 - Budget › § 303. Delivery of estimates and statements when no Governor elected by popular vote

§ 303. Delivery of estimates and statements when no Governor elected by popular vote
In the event of no election of Governor by the voters at the November election, the Secretary of Administration shall deliver the statements and estimates provided for under this chapter to the person elected Governor by the General Assembly. (Amended 1959, No. 328 (Adj. Sess.), § 4(c); 2021, No. 105 (Adj. Sess.), § 440, eff. July 1, 2022.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 5 - Budget › § 304. Preparation of budget

§ 304. Preparation of budget
(a) Upon receiving from the Secretary of Administration the statements and estimates as provided in this chapter, the Governor-elect shall immediately thereafter study and review the same and shall make such investigations as may be necessary to enable him or her to prepare a budget setting forth such recommendations as he or she may determine.
(b) The Secretary of Administration shall furnish the Governor-elect with complete information relative to the finances of the State and shall render such assistance as requested in preparation of the budget. (Amended 1959, No. 328 (Adj. Sess.), § 4(d).)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 5 - Budget › § 305. Power to revise estimates

§ 305. Power to revise estimates
In making up the budget, the Governor-elect shall have the power to revise, increase, decrease, or eliminate the sum estimated to be needed for or by each activity hereinbefore referred to and shall include in the message dealing with the budget, as provided in section 306 of this title, the reasons for the Governor-elect’s action. (Amended 2021, No. 105 (Adj. Sess.), § 441, eff. July 1, 2022.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 5 - Budget › § 305b. Education property tax increment; Emergency Board estimate

§ 305b. Education property tax increment; Emergency Board estimate
Annually, at the January meeting of the Emergency Board held pursuant to section 305a of this title, the Joint Fiscal Office and the Secretary of Administration shall provide to the Emergency Board a consensus estimate of the impact on the Education Fund resulting from tax increment financing districts authorized pursuant to 24 V.S.A. chapter 53 and section 5404a of this title. The estimate shall be for the succeeding fiscal year. The Emergency Board shall adopt an official estimate of the impact on the Education Fund at the January meeting. (Added 2017, No. 73, § 11a, eff. June 13, 2017.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 5 - Budget › § 306a. Purpose of the State budget

§ 306a. Purpose of the State budget
(a) The State budget, consistent with Chapter I, Article 7 of Vermont’s Constitution, should “be instituted for the common benefit, protection, and security of the people, nation, or community . . .” The State budget should be designed to address the needs of the people of Vermont in a way that advances human dignity and equity and in a manner that supports the population-level outcomes set forth in 3 V.S.A. § 2311.
(b) Spending and revenue policies will seek to promote economic well-being among the people of Vermont and foster a vibrant economy. Integral to achieving the purpose of the State budget is continuous evaluation of the use of public funds by systems of outcome measurement based on indicators that measure success in accomplishing the purposes of the State budget.
(c) Spending and revenue policies will reflect the public policy goals established in State law and recognize every person’s need for health, housing, dignified work, education, food, social security, and a healthy environment.
(d) As consistent with State law and in conjunction with the federal government, the budget will reflect support for economic development, public safety, transportation, and other infrastructure needs.
(e) Revenue measures shall also be based on the principles of sustainability and stability. The Administration shall develop budget and revenue proposals as part of a transparent and accountable process with direct and meaningful participation from Vermont residents. (Added 2011, No. 162 (Adj. Sess.), § E.100.1; amended 2015, No. 11, § 32; 2019, No. 131 (Adj. Sess.), § 291.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 5 - Budget › § 308. General Fund Budget Stabilization Reserve; creation and purpose

§ 308. General Fund Budget Stabilization Reserve; creation and purpose
(a) It is the purpose of this section to reduce the effects of annual variations in State revenues upon the General Fund budget of the State by reserving certain surpluses in General Fund revenues that may accrue for the purpose of offsetting deficits or reducing General Fund bonds.
(b) There is hereby created a General Fund Budget Stabilization Reserve determined on a budgetary basis and administered by the Commissioner of Finance and Management. Any budgetary basis undesignated General Fund surplus occurring at the close of a fiscal year shall be reserved within the General Fund Budget Stabilization Reserve, provided that the balance reserved shall not exceed five percent of the appropriations from the General Fund for the prior fiscal year, and any additional amounts as may be authorized by the General Assembly. Any undesignated General Fund surplus remaining after the General Fund Budget Stabilization Reserve has been brought to the maximum authorized level shall remain in the General Fund. When the General Assembly next meets, it may specifically appropriate the use of the undesignated General Fund surplus for the reduction of General Fund bonds authorized but yet to be issued by the Treasurer, a reduction of revenues, or for other needs as the General Assembly may determine.
(c) In any fiscal year, if the General Fund is found to have an undesignated fund deficit, the General Fund Budget Stabilization Reserve shall be used by the Commissioner of Finance and Management to the extent necessary to offset the undesignated fund deficit as determined by Generally Accepted Accounting Principles.
(d) Determination of the amount of the undesignated General Fund surplus or fund deficit in any fiscal year for the purposes of this section shall be made by the Commissioner of Finance and Management. Adjustments shall be made to the amounts authorized in subsections (b) and (c) of this section upon receipt of the final audited annual report of the Commissioner of Finance and Management. (Added 1987, No. 114, § 2, eff. June 29, 1987; amended 1991, No. 50, § 284; 1993, No. 25, § 74, eff. May 18, 1993; 1997, No. 61, § 260b.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 5 - Budget › § 308a. Transportation Fund Budget Stabilization Reserve; creation and purpose

§ 308a. Transportation Fund Budget Stabilization Reserve; creation and purpose
(a) It is the purpose of this section to reduce the effects of annual variations in State revenues upon the Transportation Fund budget of the State by reserving certain surpluses in Transportation Fund revenues that may accrue for the purpose of offsetting deficits or reducing Transportation Fund bonds.
(b) There is hereby created a Transportation Fund Budget Stabilization Reserve determined on a budgetary basis and administered by the Commissioner of Finance and Management. Any budgetary basis undesignated Transportation Fund surplus occurring at the close of a fiscal year shall be reserved within the Transportation Fund Budget Stabilization Reserve, provided that the balance reserved shall not exceed five percent of the appropriations from the Transportation Fund for the prior fiscal year, and any additional amounts as may be authorized by the General Assembly. Any undesignated Transportation Fund surplus remaining after the Transportation Fund Budget Stabilization Reserve has been brought to the maximum authorized level shall remain in the Transportation Fund. When the General Assembly next meets, it may specifically appropriate the use of the undesignated Transportation Fund surplus for the reduction of Transportation Fund bonds authorized but yet to be issued by the Treasurer, a reduction of revenues, or for other needs as the General Assembly may determine.
(c) In any fiscal year, if the Transportation Fund is found to have an undesignated fund deficit, the Transportation Fund Budget Stabilization Reserve shall be used by the Commissioner of Finance and Management to the extent necessary to offset the undesignated Transportation Fund deficit as determined by Generally Accepted Accounting Principles.
(d) Determination of the amount of the undesignated Transportation Fund surplus or Fund deficit in any fiscal year for the purposes of this section shall be made by the Commissioner of Finance and Management. Adjustments shall be made to the amounts authorized in subsections (b) and (c) of this section upon receipt of the final audited annual report of the Commissioner of Finance and Management.
(e) Commencing in fiscal year 2007, interest earned on funds in the Transportation Fund Budget Stabilization Reserve shall be credited to the Transportation Fund. (Added 1993, No. 25, § 75, eff. May 18, 1993; amended 1997, No. 61, § 260c; 2005, No. 80, § 62.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 5 - Budget › § 308b. Human Services Caseload Reserve

§ 308b. Human Services Caseload Reserve
(a) There is created within the General Fund a Human Services Caseload Reserve. Expenditures from the Reserve shall be subject to an appropriation by the General Assembly or approval by the Emergency Board. Expenditures from the Reserve shall be limited to Agency of Human Services caseload-related needs primarily in the Departments for Children and Families, of Health, of Mental Health, of Disabilities, Aging, and Independent Living, of Vermont Health Access, and settlement costs associated with managing the Global Commitment waiver.
(b) The Secretary of Administration may transfer to the Human Services Caseload Reserve any General Fund carry-forward directly attributable to Agency of Human Services caseload reductions and the effective management of related federal receipts, with the exclusion of the Department of Corrections.
(c) The Human Services Caseload Reserve shall contain two sub-accounts:
(1) A sub-account for incurred but not reported Medicaid expenses. Each year beginning with fiscal year 2020, the Department of Finance and Management shall adjust the amount reserved for incurred but not reported Medicaid expenses to equal the amount specified in the Comprehensive Annual Financial Report for the fiscal year occurring two years prior for the estimated amount of incurred but not reported Medicaid expenses associated with the current Medicaid Global Commitment waiver.
(2) A sub-account for Medicaid-related pressures related to caseload, utilization, changes in federal participation in existing human services programs, and settlement costs associated with managing the Global Commitment waiver. Any decrease in the amount of required reserves in subdivision (1) of this subsection shall first be reserved in the 27/53 Reserve under section 308e of this title in order to fund the current fiscal year obligation for the next year in which a 53rd week of Medicaid payments is due, next scheduled to occur in fiscal year 2022. The remainder shall result in an offsetting increase in the account for Medicaid-related pressures, as defined in this subdivision (2). Any increase in the amount of required reserve in subdivision (1) of this subsection shall require a corresponding transfer from the funds reserved in this subdivision (2), to the extent there are funds available. (Added 1997, No. 147 (Adj. Sess.), § 119a, eff. April 29, 1998; amended 1999, No. 147 (Adj. Sess.), § 4; 2005, No. 174 (Adj. Sess.), § 62; 2007, No. 15, § 21; 2009, No. 33, § 83(m)(2); 2009, No. 156, (Adj. Sess.), § I.31; 2013, No. 142 (Adj. Sess.), § 97; 2017, No. 3, § 75, eff. March 2, 2017; 2018, No. 11 (Sp. Sess.), § D.105; 2019, No. 72, § D.104; 2019, No. 88 (Adj. Sess.), § 69, eff. March 4, 2020; 2021, No. 105 (Adj. Sess.), § 443, eff. July 1, 2022.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 5 - Budget › § 308c. General Fund and Transportation Fund Balance Reserves

§ 308c. General Fund and Transportation Fund Balance Reserves
(a) There is hereby created within the General Fund a General Fund Balance Reserve, also known as the “Rainy Day Reserve.” After satisfying the requirements of section 308 of this title, and after other reserve requirements have been met, any remaining unreserved and undesignated end of fiscal year General Fund surplus shall be reserved in the General Fund Balance Reserve. The General Fund Balance Reserve shall not exceed five percent of the appropriations from the General Fund for the prior fiscal year without legislative authorization.
(1), (2) [Repealed.]
(3) Of the funds that would otherwise be reserved in the General Fund Balance Reserve under this subsection, the following amounts shall be reserved as necessary and transferred from the General Fund as follows:
(A) 25 percent to the Vermont State Retirement Fund established by 3 V.S.A. § 473; and
(B) 25 percent to the Postretirement Adjustment Allowance Account established in 16 V.S.A. § 1949a.
(b)(1) The General Assembly may specifically appropriate the use of up to 50 percent of the amounts added in the prior fiscal year from the General Fund Balance Reserve to fund unforeseen or emergency needs.
(2) If the official State revenue estimates of the Emergency Board for the General Fund, determined under section 305a of this title, have been reduced by two percent or more from the estimates determined and assumed for purposes of the general appropriations act or budget adjustment act, funds in the General Fund Balance Reserve may be appropriated to compensate for a reduction of revenues.
(c) There is hereby created within the Transportation Fund a Transportation Fund Balance Reserve. After satisfying the requirements of section 308a of this title, and after other reserve requirements have been met, any remaining unreserved and undesignated end of fiscal year Transportation Fund surplus shall be reserved in the Transportation Fund Balance Reserve. Monies from this Reserve shall be available for appropriation by the General Assembly.
(d) Determination of the amounts of the General Fund and Transportation Fund Balance Reserves shall be made by the Commissioner of Finance and Management and reported, along with the amounts appropriated pursuant to subsection (a) of this section, to the legislative Joint Fiscal Committee at its first meeting following September 1 of each year. (Added 2005, No. 71, § 256; amended 2007, No. 65, § 275; 2009, No. 4, § 96, eff. April 29, 2009; 2011, No. 162 (Adj. Sess.), §§ D.102, D.103.1; 2013, No. 1, § 95, eff. March 7, 2013; 2013, No. 179 (Adj. Sess.), § D.104, eff. June 9, 2014; 2018, No. 11 (Sp. Sess.), § D.107; 2019, No. 6, § 89, eff. April 22, 2019; 2021, No. 105 (Adj. Sess.), § 444, eff. July 1, 2022; 2021, No. 114 (Adj. Sess.), § 29, eff. July 1, 2022.)
2023 Vermont Statutes › Title 32 - Taxation and Finance › Chapter 5 - Budget › § 308e. 27/53 Reserve

§ 308e. 27/53 Reserve
(a)(1) There is hereby created within the General Fund the 27/53 Reserve. The purpose of this reserve is to meet the liabilities of the recurring 27th State payroll and the 53rd week of Medicaid payments. These liabilities will be funded by reserving a prorated amount of general funds each year, before the liability comes due.
(2) Beginning in September 2016 and annually thereafter at the September Joint Fiscal Committee meeting, the Commissioner of Finance and Management shall report on the anticipated liability for the next 27th payroll and 53rd week of Medicaid payments, providing the current reserve balance and a schedule of annual amounts needed to meet the obligation of these payments.
(b) As part of the Governor’s budget submission under section 306 of this title, the amount prorated for the upcoming fiscal year identified in subdivision (a)(2) of this section shall be included as a budgeted transfer to the 27/53 Reserve.
(c) In a fiscal year where a 27th State payroll or 53rd week of Medicaid payment is due, the General Assembly shall appropriate the funds from the 27/53 Reserve to meet the expenditures within the year in which these payments are due. (Added 2015, No. 172 (Adj. Sess.), § B.1105.)