Vermont § 701a - Capital construction bill

§ 701a. Capital construction bill

• (a) When the capital budget has been submitted by the Governor to the General Assembly,
  it shall immediately be referred to the House Committee on Corrections and Institutions,
  which shall proceed to consider the budget request in the context of the 10-year capital
  program plan also submitted by the Governor pursuant to sections 309 and 310 of this title. The Committee shall also propose to the General Assembly: (1) a prudent amount of total general obligation bonding for the following fiscal year,
  for support of the capital budget, in consideration of the recommendation of the Capital
  Debt Affordability Advisory Committee pursuant to chapter 13, subchapter 8 of this
  title; and (2) recommendations for capital projects that may be paid for from the Cash Fund for Capital
  and Essential Investments, established in section 1001b of this title. (b) As soon as possible, the Committee shall prepare a bill to be known as the “capital
  construction bill,” which shall be introduced for action by the General Assembly. (c) The spending authority authorized by a capital construction act shall carry forward
  until expended, unless otherwise provided. (1) All unexpended funds remaining for projects authorized by capital construction acts
  enacted in a legislative session that was two or more years prior to the current legislative
  session shall be reported to the General Assembly and may be reallocated in future
  capital construction acts. (2) Notwithstanding subdivision (1) of this subsection, any amounts appropriated in a
  previous capital construction act that are unexpended for at least five years shall
  be reallocated to future capital construction acts. (d)(1) On or before November 15 each year, the Commissioner of Finance and Management shall
  require each entity to which spending authority has been authorized by a capital construction
  act enacted in a legislative session that was two or more years prior to the current
  legislative session to submit a report on the current fund balances of each authorized
  project with unexpended funds. The report shall include plans for the unexpended funds,
  any projects or contracts the funds are assigned to, and an anticipated timeline for
  expending the funds. (2) On or before the third Tuesday of every annual session, the Commissioner of Finance
  and Management shall submit in a consolidated format the reports required by subdivision
  (1) of this subsection to the House Committee on Corrections and Institutions and
  the Senate Committee on Institutions. (e) The provisions of 2 V.S.A. § 20(d) (expiration of required reports) shall not apply to the reports to be made under
  subsections (c) and (d) of this section. (Added 1989, No. 258 (Adj. Sess.), § 4; amended 2007, No. 200 (Adj. Sess.), § 36, eff. June 8, 2008; 2011, No. 104 (Adj. Sess.), § 33, eff. May 7, 2012; 2013, No. 51, § 36; 2013, No. 178 (Adj. Sess.), § 28 eff. June 9, 2014; 2017, No. 154 (Adj. Sess.), § 32, eff. May 21, 2018; 2023, No. 69, § 24, eff. June 14, 2023; 2023, No. 85 (Adj. Sess.), § 465, eff. July 1, 2024; 2025, No. 33, § 20, eff. May 22, 2025.)