Print
The Vermont Statutes Online
Title
10
:
Conservation and Development
Chapter
045
:
CONNECTICUT RIVER FLOOD CONTROL COMPACT
Subchapter
002
:
PROVISIONS RELATING TO FLOOD CONTROL COMPACT
§
1175. Notification of funds received; tax and economic loss
(a) The State
Treasurer shall notify the Commissioner of Finance and Management when he or
she receives funds from either the State of Connecticut or the Commonwealth of
Massachusetts, as provided in the Connecticut River Flood Control Compact,
sections 1151-1160 of this title, in reimbursement for loss of taxes and for
economic losses and damages for any tax year in a town or towns of this State
occasioned by ownership therein by the United States of lands, rights or other
property in a flood control dam and reservoir.
(b) At the same
time the State Treasurer shall transmit to the Secretary of the Agency of
Natural Resources the official notification he or she has received from the
Connecticut River Valley Flood Control Commission setting forth the tax loss or
the economic losses and damages, as determined by the Commission according to
the terms of said compact, or as otherwise determined by the Commission,
together with the part of each such loss the State of Connecticut and the
Commonwealth of Massachusetts are obligated to pay.
(c) Funds
received pursuant to subsection (a) of this section shall be credited to a
special fund, established and managed pursuant to 32 V.S.A. chapter 7, subchapter
5, from which payments shall be made in accordance with section 1176 of this
title. (Amended 1959, No. 108, § 1; 1959, No. 328 (Adj. Sess.), § 8; 1961, No.
100, § 2; 1981, No. 222 (Adj. Sess.), § 5; 1983, No. 195 (Adj. Sess.), § 5;
1987, No. 76, § 18; 2011, No. 162 (Adj. Sess.), § E.709.1.)