32 V.S.A. § 3709 — PILOT Special Fund

(a) There is hereby established a PILOT Special Fund consisting of local option tax revenues
paid to the State Treasurer pursuant to 24 V.S.A. § 138. This Fund shall be managed by the Commissioner of Taxes pursuant to chapter 7, subchapter
5 of this title. Notwithstanding subdivision 588(3) of this title, all interest earned on the Fund shall be retained in the Fund for use in meeting
future obligations. The Fund shall be exclusively for payments required under chapter
123, subchapters 4 and 4C of this title, and for any additional State payments in
lieu of taxes for correctional facilities. The Commissioner of Finance and Management
may draw warrants for disbursements from this Fund in anticipation of receipts.
(b) If the PILOT Special Fund is insufficient to pay the full amount of all payments in
lieu of taxes under subchapter 4 of this chapter, then, after application of the cap
in subsection 3703(c) of this title, payments determined under section 3703 of this subchapter shall be reduced proportionately. (