Vermont Statutes
Chapter 1 - State Highway Law; General Transportation Provisions
§ 13. Central Garage Fund

§ 13. Central Garage Fund
(a) There is created the Central Garage Fund, which shall be used:
(1) to furnish equipment on a rental basis to the districts and other sections of the Agency for construction, maintenance, and operation of highways or other transportation activities; and
(2) to provide a general equipment repair and major overhaul service as well as to furnish necessary supplies for the operation of the equipment.
(b) To maintain a safe, reliable equipment fleet, new or replacement highway maintenance equipment shall be acquired using Central Garage Fund monies. The Agency is authorized to acquire replacement pieces for existing highway equipment or new, additional equipment equivalent to equipment already owned; however, the Agency shall not increase the total number of permanently assigned or authorized motorized or self-propelled vehicles without approval by the General Assembly.
(c)(1) For the purpose specified in subsection (b) of this section, the following amount shall be transferred from the Transportation Fund to the Central Garage Fund:
(A) in fiscal year 2021, $1,355,358.00; and
(B) in subsequent fiscal years, at a minimum, the amount specified in subdivision (A) of this subdivision (1) as adjusted annually by increasing the previous fiscal year’s amount by the percentage increase in the Bureau of Labor Statistics Consumer Price Index for All Urban Consumers (CPI-U) during the two most recently closed State fiscal years.
(2) Each fiscal year, the sum of the following shall be appropriated from the Central Garage Fund exclusively for the purpose specified in subsection (b) of this section:
(A) the amount transferred pursuant to subdivision (1) of this subsection;
(B) the amount of the equipment depreciation expense from the prior fiscal year; and
(C) the amount of the net equipment sales from the prior fiscal year.
(d) In each fiscal year, net income of the Fund earned during that fiscal year shall be retained in the Fund.
(e) For the purposes of computing net worth and net income, the fiscal year shall be the year ending June 30.
(f) As used in this section, “equipment” means registered motor vehicles and highway maintenance equipment assigned to the Central Garage.
(g) [Repealed.] (Added 1985, No. 269 (Adj. Sess.), § 1; amended 1995, No. 60, § 21, eff. April 25, 1995; 1999, No. 18, § 5, eff. May 13, 1999; 1999, No. 156 (Adj. Sess.), § 36, eff. May 29, 2000; 2003, No. 160 (Adj. Sess.), § 50, eff. June 9, 2004; 2005, No. 80, §§ 40, 46; 2007, No. 75, § 23; 2007, No. 121 (Adj. Sess.), § 14; 2009, No. 123 (Adj. Sess.), § 21; 2017, No. 158 (Adj. Sess.), § 18; 2019, No. 59, § 16.)

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