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Vermont Statutes Annotated — Title 32 (Taxation and Finance)

32 V.S.A. § 3709

PILOT Special Fund

Official textlegislature.vermont.gov

# (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. (

Last amended: Added 2005, No. 215 (Adj. Sess.), § 287; amended 2007, No. 192 (Adj. Sess.), § 6.011.1, eff. June 7, 2008; 2025, No. 27, § E.142.1, eff. July 1, 2025.)

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In this chapter (40 sections)
  1. 123-3603 · Construction equipment
  2. 123-3604 · Mines and quarries
  3. 123-3605 · Water rights
  4. 123-3606 · Standing timber
  5. 123-3607 · Orchard lands
  6. 123-3607a · Barns, silos, and other farm structures
  7. 123-3608 · Buildings on leased land
  8. 123-3609 · Perpetual or redeemable leases
  9. 123-3610 · Taxation of perpetual leased lands
  10. 123-3611 · Assessment against State easements for flood control projects
  11. 123-3612 · Owner’s improvements
  12. 123-3613 · Appeal
  13. 123-3614 · Property on federal land
  14. 123-3615 · 123-3615
  15. 123-3617 · Repealed. 1991, No. 203 (Adj. Sess.), § 1, eff. May 27, 1992
  16. 123-3618 · Business personal property
  17. 123-3619 · Time-share projects
  18. 123-3620 · Electric utility poles, lines, and fixtures
  19. 123-3621 · Petroleum and natural gas infrastructure
  20. 123-3651 · General rule
  21. 123-3652 · Mortgagor deemed owner
  22. 123-3653 · Unoccupied and owner unknown
  23. 123-3654 · Undivided estate of deceased person
  24. 123-3655 · Facilities not within town limits
  25. 123-3656 · Repealed. 1997, No. 60, § 55
  26. 123-3657 · 123-3657
  27. 123-3659 · Municipal lands [Effective July 1, 2026; see also 32 V.S.A.…
  28. 123-3660 · Repealed. 1997 (Adj. Sess.), No. 71, § 22, eff. Jan. 1, 1998
  29. 123-3691 · General rule
  30. 123-3692 · Taxation of boats, outboard motors, and trailer coaches
  31. 123-3701 · Definitions
  32. 123-3702 · Payment of grants authorized
  33. 123-3703 · Grant formula
  34. 123-3704 · Determination of assessed values; appeal
  35. 123-3705 · Adjusted municipal grand list and adjusted municipal tax rate
  36. 123-3706 · Payment to municipalities
  37. 123-3707 · Rules
  38. 123-3708 · Payments in lieu of taxes for lands held by the Agency of…
  39. 123-3709 · PILOT Special Fund
  40. 123-3710 · Municipal Grand List Stabilization Program
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