The civic record
Read. Follow. Verify.Vermont S.312 makes machinery and equipment tax credit refundable and extends sunset to 2034
Last action · January 27, 2026: Read 1st time & referred to Committee on FinanceSponsors: Scott Beck and 2 others
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What This Bill Would Do
Vermont S.312 converts the machinery and equipment investment tax credit into a , allows up to $500,000 of excess credit to be refunded annually, and extends the program date from 2030 to 2034 starting January 1, 2027.
Qualifying businesses can receive cash refunds for excess tax credits exceeding their total liability, and the credit availability is extended by four years.
- The General Assembly of the State of Vermont is the state legislature responsible for enacting laws and tax policies. context
Who It Would Affect
Groups the bill's text would affect if enacted, as described in the record. Being affected is not a position for or against it.
qualified taxpayers
Taxpayers can claim a refundable credit of 10 percent on qualified capital expenditures and receive cash refunds for excess credits up to $500,000.
Vermont Economic Progress Council
The Council must receive annual compliance reports from certified taxpayers and process certifications.
Commissioner of Taxes
The Commissioner must receive copies of annual reports filed by certified taxpayers.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
What is the maximum refund a taxpayer can receive for excess tax credits?
When does this tax credit program now expire?
What reporting requirements apply to taxpayers claiming the credit?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
Currently in committee. The next step in the legislative lifecycle is Floor Vote.
Procedural history
1 action- Jan 27, 2026SenateIntroducedRead 1st time & referred to Committee on Finance
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Transition from Nonrefundable to Refundable Tax Credit
The bill shifts business tax policy by allowing direct cash refunds for excess machinery and equipment investment credits rather than merely reducing future tax liabilities.
Connected Entities
Sources
legislature.vermont.gov
Analysis Score
0–100- Significance60How much this matters to a regular citizen
- Controversy25Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz20Current news / social attention level
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