§ 6107.
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/vt/title-10/chapter-151/6107A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 6107. Transportation Improvement District Fund
(a)There is created a special fund within the Transportation Fund known as the Transportation Improvement District Fund. The Agency shall deposit into the District Fund each transportation impact fee it receives under this subchapter. The Agency shall administer the District Fund.
(b)Balances in the District Fund shall be expended only for the purposes authorized in this subchapter and shall not be used for the general obligations of government. All balances in the District Fund at the end of any fiscal year shall be carried forward and remain within the District Fund. Interest earned by the District Fund shall be deposited in the District Fund.
(c)The Agency shall provide to the Treasurer an annual accounting of each TID and associated transportation impact fee for that district showing the source, the amount collected, each project that was funded or that will be funded with the fee, and the amount expended. (Added 2013, No. 145 (Adj. Sess.), § 2.)