Vermont § 10k Statement of policy; asset management; sale of State property

Vermont Statutes

§ 10k — Statement of policy; asset management; sale of State property

Vermont § 10k

Title 19Title 19: Highways

Ch. 1Chapter 001: State Highway Law; General Transportation Provisions

This text of Vermont § 10k (Statement of policy; asset management; sale of State property) is published on Counsel Stack Legal Research, covering Vermont primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Vt. Stat. Ann. tit. 19, § 10k (2026).

Text

(a)The Agency shall develop an asset management plan that is a systematic goal- and performance-driven management and decision-making process of operating, maintaining, and upgrading transportation assets cost-effectively. At a minimum, the asset management system shall:

(1)identify transportation system indicators by which the different components of the transportation system may be evaluated;

(2)list all of the infrastructure assets and their condition, including pavements, structures, and facilities;

(3)include deterioration rates for infrastructure assets; and

(4)determine, long-term, the annual funds necessary to fund infrastructure maintenance at the recommended performance level.

(b)The Agency shall not negotiate nor offer for sale any State property for less than fair market

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(a) The Agency shall develop an asset management plan that is a systematic goal- and performance-driven management and decision-making process of operating, maintaining, and upgrading transportation assets cost-effectively. At a minimum, the asset management system shall:
(1) identify transportation system indicators by which the different components of the transportation system may be evaluated;
(2) list all of the infrastructure assets and their condition, including pavements, structures, and facilities;
(3) include deterioration rates for infrastructure assets; and
(4) determine, long-term, the annual funds necessary to fund infrastructure maintenance at the recommended performance level.
(b) The Agency shall not negotiate nor offer for sale any State property for less than fair market value without the prior approval of the General Assembly, if in session, and, if not in session, the Joint Fiscal Committee. The Agency may sell or lease land to municipalities for less than fair market value when and for so long as the land is to be used by the municipality for transportation purposes. (Added 2001, No. 64, § 24, eff. June 16, 2001; amended 2003, No. 56, § 66, eff. June 4, 2003; 2003, No. 160 (Adj. Sess.), § 32, eff. June 9, 2004; 2021, No. 20, § 80.)