VBA LEGISLATIVE BULLETIN
VERMONT BANKERS ASSOCIATION INCORPORATED
P. O. Box 587, Montpelier, VT 05601-0587 802-229-0341/802-223-5078
Email: vtbanker@sover.net Website: www.vtbanker.com
“With Vermont’s Banking Community, Vermont Prospers”
January 30, 2014
A diversity of subject matter in this fourth week of the legislative session. It began early Monday morning
when I attended a meeting with the Governor and employers to discuss his payroll tax proposal which is
intended to address the Medicaid cost shift in health care.
You may recall the seven tenths of one percent payroll tax, which would generate $90 million annually, would
be matched by an additional $100 million in federal dollars. A portion of the funds would be used to reduce
health care premiums associated with the Medicaid cost shift. In theory, employers would see an offset to the
payroll tax through a reduction in premiums.
I think it would be safe to say there was a healthy dose of skepticism and frustration in the room. Several spoke
about the lack of confidence in seeing their health care premiums reduced. Credibility and trust were also
themes touched upon during the meeting. Throughout the discussion, the Governor voiced his determination to
deal with the cost shift and was open to any ideas on how to raise the necessary funds.
In the House, the General Housing and Military Affairs Committee took up H.25 an act relating to natural burial
grounds. The bill would enable a landowner to designate his or her property for use as a natural burial site. The
hearing reminded me of the unmarked burial discussions we had in 2010. Legislative counsel provided an
overview of the bill and one interested party spoke in favor of the legislation. At the end of the hearing, the
Committee developed an extensive list of parties that will need to weigh in on the bill including the VBA.
The House Judiciary Committee met to continue their work on H.23 an act relating to uniform transfers to
minors. Legislative counsel provided a summary of the changes made to the proposed legislation based on
discussion at a prior hearing. They included striking the word conservator and replacing it with financial
guardian; and eliminating court authorization for transferring amounts over $10,000, all transfers would have to
be authorized by the court. The Committee unanimously voted in favor of the bill which now goes to the House
floor for consideration.
Representatives from the Department of Motor Vehicles attended a hearing before the House Transportation
Committee. Aside from a general update on the Department, Committee members also heard about the 144
fraudulent applications to obtain a driver’s privilege card. To date over 40,000 cards have been issued to
Vermonters who have either forgotten to or were not able to bring in the appropriate documentation to obtain a
Real ID drivers license. Members question why the fraud was not detected earlier and where these cards have
gone. Additional hearings will be held on the matter.
In the Senate, the Natural Resources Committee heard from the State Treasurer regarding the 10% in Vermont
program. A summary of the Local Investment Advisory Committee proceedings and a list of investments were
provided to the Committee. Immediately following the Treasurer was a representative from VEDA who spoke
about their energy lending programs for commercial projects.
The Senate Agricultural Committee heard testimony on the proposed changes to the current use tax program.
Representatives from Legislative Counsel, the Administration, the farming community and foresters spoke on
the three year moratorium, taxing barns and other farm buildings at 30% of their fair market value and
removing farm land from current use if the farm fails to implement water quality standards. Members of the
Committee were skeptical the proposals would move forward without significant modification.
Bills the VBA is tracking:
H.3 An Act Relating to Adverse Possession
H.12 An Act Relating to Licensing Consumer Litigation Funding Companies
H.13 An Act Relating to Regulating Flood Insurance Coverage Requirements
H.23 An Act Relating to the Uniform Transfers to Minors Act
H.25 An Act Relating to Natural Burial Grounds
H.29 An Act Relating to Financing Water Quality Improvements
H.37 An Act Relating to the Safety and Regulation of Dams
H.53 An Act Relating to Isolation Distances for Potable Water Supplies and Wastewater
Systems
H.55 An Act Relating to Automatic Renewal Provisions in Consumer Contracts
H.61 An Act Relating to Motor Vehicle Titles
H.78 An Act Relating to Making Health Insurance Plans Available Outside the Exchange
and to Purchasing Health Insurance Across State Lines
Please click on this link for the House bills listed above:
http://legislature.vermont.gov/bill/all-house/2016
S.3 An Act Relating to Consumer Litigation Funding Companies
S.15 An Act Relating to Absence from Work for Health Care and Safety
S.17 An Act Relating to a 10-Year Statute of Repose for Actions Arising Out of
Improvements to Real Property
S.18 An Act Relating to Privacy Protection
S.21 An Act Relating to Purchase of Health Insurance Across State Lines
S.24 An Act Relating to Disclosure of Compliance with Accessibility Standards in the
Sale of Residential Construction
S.41 An Act Relating to Developing Strategy for Evaluating the Effectiveness of
Individual Tax Expenditures
S.46 An Act Relating to Financing Water Quality Improvement
S.48 An Act Relating to Setback and Screening Requirements for Solar Generation Plants
S.49 An Act Relating to Improving the Quality of State Waters
S.50 An Act Relating to Allowing Municipalities to Adopt Bylaws Regulating
Commercial Building Facades
Please click on this link for the Senate bills listed above:
http://legislature.vermont.gov/bill/all-senate/2016
List of legislative committees and their members: http://legislature.vermont.gov/committee/list/2016/#
VERMONT BANKERS ASSOCIATION
BANKER DAY UNDER THE DOME
DATE:
SCHEDULE:
Thursday, February 12, 2015
9:00 a.m.
Capitol Plaza Hotel Board Room
10:00 – 12:00 Legislative Committee meetings
12:00 – 1:00 pm Lunch with your Legislator (on your own)
1:00 – 4:00 pm Legislative Committee meetings
There will also be times to observe the House and Senate floor proceedings.
All attendees should gather in the House chamber at 12:55 p.m. to be
introduced as a group.
TAKE ADVANTAGE OF THIS OPPORTUNITY FOR YOU AS A MEMBER OF
THE VERMONT BANKING COMMUNITY TO INTERACT WITH
LEGISLATORS FROM YOUR HOME DISTRICT
DISCUSS ISSUES OF IMPORTANCE TO BANKING IN VERMONT AND
HOW YOU WOULD LIKE THEM TO ADDRESS CERTAIN LEGISLATION
Contact the VBA office at 229-0341 or vtbanker@sover.net to register.
Please reply by Friday, February 6th.
You are urged to contact your legislator prior to attendance to schedule lunch
or another time to meet with them. If you would like contact information,
please contact Judy at the VBA office.