Vote Smart's Synopsis:

Vote to adopt a conference report that increases the cigarette tax and makes various amendments to the tax code.

Highlights:

• Increases the tax rate per package of cigarettes from $0.25 to $0.38 (Sec. 27).

• Authorizes the Commissioner of Taxes to transfer the amount of a tax liability from the prize winnings if a lottery winner has an outstanding tax liability payable to the Department of Taxes (Sec. 1).

• Reduces the educational property tax for the 2012 fiscal year as follows (Sec. 4):
• From $1.59 to $1.36 per $100 for nonresidential property; and
• From $1.10 to $0.87 per $100 for homestead property (Sec. 4).

• Exempts buildings and land owned and occupied by nonprofit, tax-exempt health, recreation, and fitness organizations from 50 percent of the educational property tax (Sec. 13).

• Requires health insurers to pay an assessment of 0.80 of 1 percent of all health insurance claims paid by the health insurer for its Vermont members for the previous fiscal year into the state health care resources fund each year, beginning October 1, 2011 (Sec. 28).

Full Bill Text

Signed by Governor Peter Shumlin

Vote Smart's Synopsis:

Vote to adopt a conference report that increases the cigarette tax and makes various amendments to the tax code.

Highlights:

• Increases the tax rate per package of cigarettes from $0.25 to $0.38 (Sec. 27).

• Authorizes the Commissioner of Taxes to transfer the amount of a tax liability from the prize winnings if a lottery winner has an outstanding tax liability payable to the Department of Taxes (Sec. 1).

• Reduces the educational property tax for the 2012 fiscal year as follows (Sec. 4):
• From $1.59 to $1.36 per $100 for nonresidential property; and
• From $1.10 to $0.87 per $100 for homestead property (Sec. 4).

• Exempts buildings and land owned and occupied by nonprofit, tax-exempt health, recreation, and fitness organizations from 50 percent of the educational property tax (Sec. 13).

• Requires health insurers to pay an assessment of 0.80 of 1 percent of all health insurance claims paid by the health insurer for its Vermont members for the previous fiscal year into the state health care resources fund each year, beginning October 1, 2011 (Sec. 28).

Full Bill Text