§ 1178 - Reimbursement for tax losses not covered by compact - Vermont Statutes

§ 1178. Reimbursement for tax losses not covered by compact

(a) The State of Vermont shall annually reimburse its political subdivisions for the ten percent of the amount of real property, personal property is lost to them by reason of acquisition and ownership by the United States of land, rights or other property acquired by the United States for flood control dams and reservoirs, and not reimbursed by the Commonwealth of Massachusetts and the State of Connecticut under the terms of the Connecticut River Flood Control Compact, sections 1151-1160 of this title. Such total annual reimbursement by the State of Vermont under the terms of this section shall equal one-ninth of the aggregate amount determined by the Connecticut River Flood Control Commission as being due by the State of Connecticut and the Commonwealth of Massachusetts to the State of Vermont solely for the aforesaid tax losses under the terms of said compact.

(b) The commissioner of finance and management shall annually issue his warrants in favor of those political subdivisions upon vouchers issued by the secretary of the agency of natural resources at the same time as vouchers are issued for payments of reimbursement of the loss of that political subdivision by the State of Connecticut and Commonwealth of Massachusetts. (Amended 1959, No. 328 (Adj. Sess.), § 8; 1961, No. 100, § 2; 1981, No. 222 (Adj. Sess.), § 8; 1983, No. 195 (Adj. Sess.), § 5(b); 1987, No. 76, § 18.)