Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.
| State: | Vermont |
| Effected Jurisdiction: | Vermont |
Jurisdiction type: | State |
| Fiscal year ending In: | 2019 |
| Program name: | Vermont Downtown and Village Center Tax Credit Program |
| Program purpose: | Historic Preservation |
| Statutory authority: | 32 V.S.A. 5930cc |
| Abating jurisdiction(s): | State of Vermont |
| Applicable taxes: | Personal Income Tax; Corporate Income Tax; Bank Franchise Tax; Insurance Premium Tax |
| Method of abatement: | Tax Credit |
| Provisions for recapture: | If, within five years after completion of the qualified project the applicant shall be liable for a recapture penalty in an amount equal to the total Tax Credit claimed if the Vermont Downtown Development Board finds that any work performed on the qualified project is inconsistent with the approved application; or the applicant knowingly failed to supply any information, or supplied incorrect or untrue information or failed to comply with any award condition; or in the case of the Historic Rehabilitation Tax Credit, the National Park Service revokes certification for unapproved alterations or for work not done as described in the Historic Preservation certification application. |
| Gross revenue loss: | $2,188,991 |
| Reimbursement / offset: | $0 |
| Net revenue loss: | $2,188,991 |
| Type of loss: | Active |
| Additional notes on dislosure: | (none) |
| Document source: | https://auditor.vermont.gov/reports/audit/financial |
