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Vermont Statutes Title 32. Taxation and Finance, § 5930ff. Recapture

Current as of January 01, 2024 | Updated by Findlaw Staff

If, within five years after completion of the qualified project, either of the following events occurs, the applicant shall be liable for a recapture penalty in an amount equal to the total tax credit claimed plus an amount equal to any value received from a bank for a bank or insurance credit certificate, and any credit allocated but unclaimed shall be disallowed to the applicant:

(1) The State Board finds that any work performed on the qualified project is inconsistent with the approved application; or the applicant knowingly failed to supply any information, or supplied incorrect or untrue information required by the State Board, or failed to comply with any award condition required by the State Board.

(2) The National Park Service revoked certification for unapproved alterations or for work not done as described in the historic preservation certification application.

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Cite this article: FindLaw.com - Vermont Statutes Title 32. Taxation and Finance, § 5930ff. Recapture - last updated January 01, 2024 | https://codes.findlaw.com/vt/title-32-taxation-and-finance/vt-st-tit-32-sect-5930ff/

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