Signed by Governor Phil Scott

Vote Smart's Synopsis:

Vote to adopt a conference report that establishes the Community Housing Infrastructure Program (CHIP) and authorizes localities to fund housing projects with loans in Vermont.

Highlights:

• Establishes the Community Housing Infrastructure Program (CHIP) in Vermont (Sec. 1-24).

• Authorizes localities to fund housing projects with loans to be repaid later, with the increased tax revenue gained from the projects (Sec. 1-24).

• Establishes a provision to award up to $20,000 to individuals helping to build houses in empty lots, and establishes a state program to offer low-interest loans to cities and towns aiming to improve their infrastructure (Sec. 1-24).

• Specifies that the provisions of this bill shall take effect beginning July 1, 2025 (Sec. 25).

Full Bill Text