| 1 | 1 | | BILL AS INTRODUCED H.332 |
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| 2 | 2 | | 2025 Page 1 of 4 |
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| 5 | 5 | | VT LEG #380933 v.1 |
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| 6 | 6 | | H.332 1 |
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| 7 | 7 | | Introduced by Representatives Priestley of Bradford, Bishop of Colchester, 2 |
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| 8 | 8 | | Boyden of Cambridge, Cole of Hartford, Logan of Burlington, 3 |
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| 9 | 9 | | McGill of Bridport, Olson of Starksboro, and Sibilia of Dover 4 |
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| 10 | 10 | | Referred to Committee on 5 |
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| 11 | 11 | | Date: 6 |
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| 12 | 12 | | Subject: Conservation and development; economic development 7 |
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| 13 | 13 | | Statement of purpose of bill as introduced: This bill proposes to create the 8 |
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| 14 | 14 | | Small Business Technical Assistance Exchange, which would provide grants 9 |
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| 15 | 15 | | and professional and technical assistance to certain businesses in Vermont. 10 |
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| 16 | 16 | | An act relating to the creation of the Small Business Technical Assistance 11 |
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| 17 | 17 | | Exchange 12 |
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| 18 | 18 | | It is hereby enacted by the General Assembly of the State of Vermont: 13 |
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| 19 | 19 | | Sec. 1 10 V.S.A. § 2 is added to read: 14 |
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| 20 | 20 | | § 2. SMALL BUSINESS TECHNICAL ASSISTANCE EXCHANGE 15 |
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| 21 | 21 | | (a) There is created the Small Business Technical Assistance Exchange, a 16 |
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| 22 | 22 | | business assistance program through which the regional development 17 |
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| 23 | 23 | | corporations shall provide small- and mid-sized businesses with professional 18 |
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| 24 | 24 | | and technical assistance: 19 |
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| 25 | 25 | | (1) through in-house Business Navigators; 20 BILL AS INTRODUCED H.332 |
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| 26 | 26 | | 2025 Page 2 of 4 |
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| 29 | 29 | | VT LEG #380933 v.1 |
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| 30 | 30 | | (2) through partnerships with organizations specializing in outreach to 1 |
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| 31 | 31 | | mature workers; youth; individuals with disabilities; individuals who have 2 |
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| 32 | 32 | | been involved with the correction system; Black, Indigenous, and Persons of 3 |
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| 33 | 33 | | Color Vermonters; New Americans; and other historically marginalized 4 |
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| 34 | 34 | | populations; and 5 |
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| 35 | 35 | | (3) through grants to private providers for professional services, 6 |
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| 36 | 36 | | including: 7 |
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| 37 | 37 | | (A) business operations, financial management, and grant writing; 8 |
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| 38 | 38 | | (B) digital strategies; 9 |
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| 39 | 39 | | (C) architecture and physical space design; 10 |
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| 40 | 40 | | (D) reconfiguring manufacturing equipment and processes and 11 |
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| 41 | 41 | | incorporating safety measures; 12 |
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| 42 | 42 | | (E) technology and software consulting; 13 |
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| 43 | 43 | | (F) legal and other professional services; and 14 |
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| 44 | 44 | | (G) other technical assistance. 15 |
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| 45 | 45 | | (b)(1) Through the Exchange, the regional development corporations shall 16 |
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| 46 | 46 | | maintain a directory of, and build connections to, Vermont technical assistance 17 |
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| 47 | 47 | | providers who have demonstrated the ability and expertise to assist businesses 18 |
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| 48 | 48 | | with critical tools to grow and adapt their businesses to the ever-changing 19 |
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| 49 | 49 | | business climate. 20 BILL AS INTRODUCED H.332 |
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| 50 | 50 | | 2025 Page 3 of 4 |
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| 53 | 53 | | VT LEG #380933 v.1 |
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| 54 | 54 | | (2) The Exchange shall award technical assistance grants of not more 1 |
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| 55 | 55 | | than $5,000.00 per business for technical services from approved providers. 2 |
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| 56 | 56 | | (3) To be eligible to receive technical assistance through the Exchange, 3 |
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| 57 | 57 | | a business shall: 4 |
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| 58 | 58 | | (A) be a for-profit entity located in Vermont; and 5 |
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| 59 | 59 | | (B) have at least $5,000.00 in average annual revenue. 6 |
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| 60 | 60 | | (4) A business whose owner’s income is higher than the federal labor 7 |
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| 61 | 61 | | market area in which the business operates, as evidenced by a self-attestation 8 |
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| 62 | 62 | | provided by the owner, shall provide a 50 percent match for the costs of 9 |
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| 63 | 63 | | professional services funded by a grant. 10 |
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| 64 | 64 | | (c) The regional development corporations shall: 11 |
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| 65 | 65 | | (1) operate the Exchange to produce benefits for both the client 12 |
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| 66 | 66 | | companies as well as the vendors providing the assistance; and 13 |
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| 67 | 67 | | (2) conduct outreach and direct engagement to promote participation by 14 |
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| 68 | 68 | | businesses in rural areas of this State and businesses owned by mature 15 |
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| 69 | 69 | | workers; youth; individuals with disabilities; individuals who have been 16 |
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| 70 | 70 | | involved with the correction system; Black, Indigenous, and Persons of Color 17 |
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| 71 | 71 | | Vermonters; New Americans; and other historically marginalized populations. 18 |
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| 72 | 72 | | (d) The regional development corporations shall publish a report on the 19 |
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| 73 | 73 | | activities and performance of the Exchange on or before January 15 and July 20 |
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| 74 | 74 | | 15 each year. 21 BILL AS INTRODUCED H.332 |
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| 75 | 75 | | 2025 Page 4 of 4 |
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| 78 | 78 | | VT LEG #380933 v.1 |
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| 79 | 79 | | Sec. 2. RURAL BUSINESS TECHNICAL ASSISTANCE EXCHANGE; 1 |
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| 80 | 80 | | APPROPRIATION 2 |
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| 81 | 81 | | In fiscal year 2026, the amount of $1,250,000.00 is appropriated from the 3 |
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| 82 | 82 | | General Fund to the Agency of Commerce and Community Development for a 4 |
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| 83 | 83 | | subgrant to provide services and assistance through the Small Business 5 |
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| 84 | 84 | | Technical Assistance Exchange created in 10 V.S.A. § 2. 6 |
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| 85 | 85 | | Sec. 3. EFFECTIVE DATE 7 |
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| 86 | 86 | | This act shall take effect on July 1, 2025. 8 |
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