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North Country News
7:15 pm
Wed March 6, 2013
Vermont Governor Wants to Forgive $6M From Cities
Governor Peter Shumlin says he wants to forgive about $6 million that the state auditor last year said several Vermont cities and towns owe the state in connection with special tax districts designed to promote economic development.
Speaking at a news conference in Winooski on Wednesday, Shumlin said his administration will introduce legislation shortly that would clarify the rules governing so-called tax increment financing districts.
The municipalities dispute the finding by former auditor Tom Salmon that they misapplied the law and owe the state the money.
Shumlin said he wants to clarify the loss so that there are no such disputes in the future. He called the districts, known as TIFFS, an important tool for revitalizing Vermont's downtowns.
Copyright 2013 Associated Press. All Rights Reserved.