Vermont Bar Journal, Vol. 40, No. 2 Vermont Bar Journal, Summer 2019

New Sexual Harm – VBA appointee on Task Force https://legislature.vermont.gov/ Documents/2020/Docs/BILLS/H- 0512/H-0512%20As%20Passed%20by%20 Both%20House%20and%20Senate%20Un- official.pdf H. 526 – Act 38 “Town Clerk Recording Fees” (an act relating to town clerk record- ing fees and town restoration and preser- vation reserve funds); signed by Governor Scott on May 28, 2019; sections 1-2 (town clerk fees; town fee report), 6 (recording of tax liens); 7-9 (recording procedures) effec- tive on July 1, 2019; sections 3-5 (survey plats) effective on Jan. 1. 2020. (VBA Prop- erty Law and Municipal Law Communities). • Recording cost per page increase from $10 to $15 for deeds, foreclosure com- plaints, document that is to be a matter of public record, and property transfer tax returns • Recording cost per survey sheet in- crease from $15 to $25 • Examination of record cost per hour in- crease from $2 to $4 • If land subdivided or boundaries changed after Jan. 1, 2020, the deed shall be accompanied by a survey plat that shows new boundaries and cite book and page of previous deed – fail- ure to do so does not void the deed or render the title unmarketable, however • Vermont tax lien is deemed filed when the clerk indorses a certificate on the lien • Clerks shall bear the cost of returning the original copy of a recorded instru- ment to the filer • Clerk shall enter the names of parties, type and date of instrument, and date and time of recording in a searchable index open to public inspection within three days following the date an instru- ment is indorsed (time for entering the information may be extended for good cause shown such as illness or absence of clerk) https://legislature.vermont.gov/ Documents/2020/Docs/BILLS/H- 0526/H-0526%20As%20Passed%20by%20 Both%20House%20and%20Senate%20Un- official.pdf H. 527 – “Judicial Branch Fees” bill (an act relating to Executive Branch and Judi- cial Branch fees) signed by Governor Scott on June 18, 2019; effective date of Judicia- ry Branch filing fees is July 1, 2019. • No filing fee for motions to confirm the sale of property in foreclosure • Filing fee of $100 for petitions for li- 26 cense to convey real estate or personal property • Filing fee of $100 to obtain a birth or- der • Filing fee of $150 to appeal the denial of an application to amend a birth or death certificate https://legislature.vermont.gov/Docu- ments/2020/Docs/JOURNAL/hj190523.pdf (judiciary fees on pp. 1985-1986) H. 541 – “Revenue” bill (an act relating to changes that affect the revenue of the State); signed by Governor Scott on June 18, 2019; act takes effect on passage, ex- cept for: (1) Sec. 1 (capital gains exclusion) shall take effect on July 1, 2019 and apply to the sales of assets on or after that date; (2) Notwithstanding 1 V.S.A. § 214, Sec. 2 (medical deduction) shall take effect ret- roactively on January 1, 2019 and apply to taxable year 2019 and after; (3) Secs. 4 (downtown and village center tax cred- it), 7–8 (rooms tax), 9–15 (property trans- fer tax), and 18 (fuel tax) shall take effect on July 1, 2019; (4) Sec. 5 (estate tax ex- clusion at $4,250,000.00) shall take effect on January 1, 2020 and apply to estates of decedents with a date of death on or after that date; (5) Sec. 6 (estate tax exclusion at $5,000,000.00) shall take effect on January 1, 2021 and apply to estates of decedents with a date of death on or after that date; (6) Secs. 16–17 (land gains tax) shall take ef- fect on January 1, 2020 and apply to gains from sales made on or after that date. • Capital gains tax exclusion shall not ex- ceed 40% of federal taxable income or $350,000, whichever is less • Land gains tax modified to only cov- er land, whether or not improved, that has been purchased and subdivided by the transferor within 6 years previous to the sale or exchange of the land • New property transfer tax trigger for the transfer or acquisition of a control- ling interest in a property • Estate tax limit increased from $2,750,000 to $4,250,000 in 2020 and $5,000,000 in 2021 https://legislature.vermont.gov/Docu- ments/2020/Docs/JOURNAL/hj190524. pdf (capital gains tax on pp. 2009-2012; land gains tax on pp. 2025-2026; property transfer tax on pp. 2021-2025; estate tax on pp. 2019-2020) S. 18 – “Unconscionable Terms”” bill (an act relating to consumer justice enforce- ment) delivered to Governor Scott on June 13, 2019. Effective on October 1, 2020. • Rebuttable presumption that certain contract terms are substantively un- THE VERMONT BAR JOURNAL • SUMMER 2019 conscionable in certain standard form contracts • Contract terms include inconvenient forums, waiver of a right to a jury tri- al, waiver of a right to seek punitive damages, modification of limitation of action periods, and excessive fees or costs to bring an action • Exclusions for financial institutions, credit unions, contracts regulated by DFR, contracts for recreational activi- ties, sports or competitions, and motor vehicle retail installment contracts https://legislature.vermont.gov/Docu- ments/2020/Docs/JOURNAL/sj190523.pdf (unconscionable terms on pp. 1615-1617) S. 131 – Act 57 “Insurance” bill (an act relating to insurance and securities); signed by Governor Scott on June 10, 2019; effec- tive date of July 1, 2019. • Outline of “innovation waivers” with respect to specific requirements of in- surance laws, regulations or bulletins • New domestic surplus lines insurance provisions • New HIV-related test requirements • Parameters of Vermont Financial Ser- vices Education and Victim Restitution Special Fund • Modification of definition of “credit re- port” https://legislature.vermont.gov/ Documents/2020/Docs/BILLS/S- 0131/S-0131%20As%20Passed%20by%20 Both%20House%20and%20Senate%20Un- official.pdf Other bills that did not make it through this session but may be back next session H. 1 - Non-compete provisions (H Comm Econ Dev) likely to come back next session (Employment and Intellectual Property Sec- tions) H. 412 – P R & R (H Jud) possibly back next session (Family Law Section) S. 99 – Alimony reform (Sen Jud) very likely to come back next session (Family Law Section) Act 250 Commission – the House Judi- ciary Committee will likely be asked to re- view a proposal that jurisdiction over Act 250 appeals be transferred from the Envi- ronmental Division to a lay Environmental Review Board. The Environmental Law Sec- tion will discuss the proposal during a pro- gram at the VBA Annual Meeting on Sep- tember 27 in Burlington. ____________________ Teri Corsones, Esq., is the Executive Di- rector of the Vermont Bar Association. www.vtbar.org

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