2018 Vermont Statutes
Title 16 - Education
Chapter 87 - Grants, Scholarship, And Education Loan Programs
§ 2880c Initial deposits to the Program Fund
§ 2880c. Initial deposits to the Program Fund
(a) Each year, the Corporation shall deposit $250.00 into the Program Fund for each eligible child born that year, beginning on or after January 1, 2016.
(b) In addition, if the eligible child has a family income of less than 250 percent of the federal poverty level at the time the deposit under subsection (a) of this section is made, the Corporation shall make an additional deposit into the Program Fund for the child that is equal to the deposit made under subsection (a).
(c) Notwithstanding subsections (a) and (b) of this section, if the available funds in a given calendar year are insufficient to provide for the maximum deposits under this section, the Corporation shall prorate the deposits accordingly. (Added 2015, No. 45, § 2.)
