Vermont legislation · 2025-2026 Session
Vermont S312: An act relating to a refundable machinery and equipment investment tax credit
Status: In committee, January 27, 2026
What the bill says
An act relating to a refundable machinery and equipment investment tax credit It is hereby enacted by the General Assembly of the State of Vermont.
From the introduced text, January 27, 2026:
An act relating to a refundable machinery and equipment investment tax credit It is hereby enacted by the General Assembly of the State of Vermont: Sec. 1. 32 V.S.A. § 5930ll is amended to read: § 5930ll. MACHINERY AND EQUIPMENT TAX CREDIT * * * (c) Amount of credit. Except as limited by subsections (e) and (f) of this section, a qualified taxpayer shall be entitled to claim against its Vermont VT LEG #385566 v.1 BILL AS INTRODUCED S.312 2026 Page 2 of income tax a credit in an amount equal to ten 10 percent of the total qualified capital expenditures. (d) Availability of credit. (1) The credit earned under this section with respect to qualified capital expenditures shall be available to reduce the qualified taxpayer's Vermont income tax liability for its tax year beginning on or after January 1, 2012, or, if later, the first tax year within which the qualified taxpayer's aggregate qualified capital expenditures exceed $20,000,000.00. A taxpayer claiming a credit under this subchapter shall submit with the first return on which a credit is claimed a copy of the qualified taxpayer's certification from the Vermont Economic Progress Council. (2)(A) The credit may be used in the year earned or carried forward to reduce the qualified taxpayer's Vermont income tax liability in succeeding tax years ending on …
Sponsors
- Scott Beck (R, Caledonia District) · primary sponsor
- Russell Ingalls (R, Essex District)
- Morley, John (R, Orleans District)
Latest actions
- : Read 1st time & referred to Committee on [Finance]
- : Introduced and read first time
Common questions
- What is S312?
- S312 is a bill in the Vermont Legislature (2025-2026 Session): An act relating to a refundable machinery and equipment investment tax credit.
- What does S312 do?
- In its own words: An act relating to a refundable machinery and equipment investment tax credit It is hereby enacted by the General Assembly of the State of Vermont.
- What is the status of S312?
- In committee as of January 27, 2026. Latest action: Read 1st time & referred to Committee on [Finance] (January 27, 2026).
- Who sponsored S312?
- Scott Beck (R, Caledonia District), with 2 co-sponsors.
- Where is the official record for S312?
- On the Vermont Legislature website: https://legislature.vermont.gov/bill/status/2026/S.312
Source: official Vermont record. Tracked by Delilah, AI for legislation across all 50 states and Congress.