Vermont Statutes Title 16 Sec. 2875
Terms Used In Vermont Statutes Title 16 Sec. 2875
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Internal Revenue Code: means the federal Internal Revenue Code of 1986, as amended, together with the regulations promulgated pursuant to that Code. See
- Investment Plan: means one or more plans created pursuant to this subchapter. See
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
§ 2875. Findings and intent
(a) The general welfare and well-being of the State are directly related to the educational levels and skills of its citizens.
(b) It is the policy of the State to advance postsecondary education opportunities by using the State’s limited resources in an effective, efficient, and equitable manner.
(c) Given the cost of postsecondary education to students, families, and the taxpayers of the State, it is in the public interest of the State to support supplemental means that enable its citizens to pursue their educational aspirations.
(d) It is a valid and vital public purpose to create a means of encouraging the savings and investing of funds for future postsecondary education, in compliance with the Internal Revenue Code of 1986, as amended.
(e) The implementation of the Vermont Higher Education Investment Plan as provided by this subchapter furthers this public purpose. (Added 1997, No. 79 (Adj. Sess.), § 1, eff. July 1, 1997; amended 2001, No. 58, § 4, eff. June 16, 2001; 2013, No. 92 (Adj. Sess.), § 189, eff. Feb. 14, 2014.)