Vermont Statutes Title 10 Sec. 6107
Terms Used In Vermont Statutes Title 10 Sec. 6107
- Agency: means the Agency of Transportation. See
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- TID: means a discrete geographic area that includes and will benefit from one or more capital transportation projects included in the Capital Transportation Program and for which the Agency has established a transportation impact fee under this subchapter. See
- Transportation impact fee: means a fee that is assessed to a land use project as a condition of a permit issued under this chapter or a State highway access permit under 19 V. See
§ 6107. Transportation Improvement District Fund
(a) There is created a special fund within the Transportation Fund known as the Transportation Improvement District Fund. The Agency shall deposit into the District Fund each transportation impact fee it receives under this subchapter. The Agency shall administer the District Fund.
(b) Balances in the District Fund shall be expended only for the purposes authorized in this subchapter and shall not be used for the general obligations of government. All balances in the District Fund at the end of any fiscal year shall be carried forward and remain within the District Fund. Interest earned by the District Fund shall be deposited in the District Fund.
(c) The Agency shall provide to the Treasurer an annual accounting of each TID and associated transportation impact fee for that district showing the source, the amount collected, each project that was funded or that will be funded with the fee, and the amount expended. (Added 2013, No. 145 (Adj. Sess.), § 2.)