Vermont § 280ff - Funding

Full text of Vermont Vermont Statutes Online § 280ff — Funding, with citation guidance and answers to common questions.

§ 280ff. Funding

  • (a) The State Treasurer, in consultation with the Secretary of Administration, shall negotiate
    an agreement with the Authority incorporating the provisions of this section and consistent
    with the requirements of this subchapter. (b) State appropriations to the Authority are based on the Authority’s contributions to
    loan loss reserves for the Program in accordance with generally accepted accounting
    principles. Any difference between the actual loan losses incurred by the Authority
    in a fiscal year shall be adjusted in the following year’s appropriation. (1) This is a revolving loan program. (2) The accumulated total of the appropriation shall not exceed $8,500,000.00 over the
    life of the Program. (3) The Authority shall absorb its historical loan loss reserve rate before any State
    funds are expended. (4) Additionally, the Authority shall absorb up to $3,000,000.00 in Program losses shared
    with the State on a pro rata basis. (Added 2019, No. 79, § 15, eff. June 20, 2019; amended 2021, No. 71, § 10, eff. June 8, 2021.)

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Frequently Asked Questions About Vermont § 280ff

What does Vermont Statutes Online § 280ff cover?

Section 280ff ("Funding") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Vermont § 280ff?

A common citation format is "Vermont Statutes Online § 280ff" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Vermont law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.

How does Vermont § 280ff apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.