2011 Vermont Code
Title 29 Public Property and Supplies
Chapter 5 DEPARTMENT OF BUILDINGS AND GENERAL SERVICES
§ 155 Historic property stabilization and rehabilitation special fund

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TITLE 29

Public Property and Supplies

PART I

Public Works and Property

CHAPTER 5. DEPARTMENT OF BUILDINGS AND GENERAL SERVICES

§ 155. Historic property stabilization and rehabilitation special fund

(a) There is established a special fund managed by and under the authority and control of the commissioner, comprising net revenue from the sale of underutilized state-owned historic property to be used for the purposes set forth in this section. Any remaining balance at the end of the fiscal year shall be carried forward in the fund; provided, however, that if the fund balance exceeds $250,000.00 as of November 15 in any year, then the general assembly shall reallocate the excess funds for other purposes in the next enacted capital appropriations bill.

(b) Monies in the fund shall be available to the department for the stabilization or rehabilitation of state-owned historic property pursuant to a program created jointly by the department of buildings and general services and the division for historic preservation of the agency of commerce and community development.

(c) On or before January 15 of each year, the department shall report to the house committee on corrections and institutions and the senate committee on institutions concerning deposits into and disbursements from the fund occurring in the previous calendar year, the properties sold and stabilized or rehabilitated during that period, and the department's plans for future stabilization or rehabilitation of state-owned historic properties.

(d) Annually, the list presented to the general assembly of state-owned property the commissioner seeks approval to sell pursuant to section 166 of this title shall identify those properties the commissioner has identified as underutilized state-owned historic property pursuant to subsection (b) of this section.

(e) For purposes of this section, "historic property" has the same meaning as defined in 22 V.S.A. { 701. (Added 2011, No. 40, { 30, eff. May 20, 2011.)