| 1 | | - | BILLASINTRODUCEDANDPASSEDBYSENATE S.122 |
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| 2 | | - | 2025 Page1of17 |
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| 3 | | - | S.122 |
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| 4 | | - | IntroducedbyCommitteeonEconomicDevelopment,HousingandGeneral |
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| 5 | | - | Affairs |
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| 6 | | - | Date:March18,2025 |
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| 7 | | - | Subject:Conservationanddevelopment;economicandworkforce |
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| 8 | | - | development;smallbusiness |
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| 9 | | - | Statementofpurposeofbillasintroduced:Thisbillproposestoprovide |
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| 10 | | - | supporttoexistingeconomicandworkforcedevelopmentprogramstohelp |
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| 11 | | - | smallbusinessesgrowinVermont. |
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| 12 | | - | Anactrelatingtoeconomicandworkforcedevelopment |
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| 13 | | - | ItisherebyenactedbytheGeneralAssemblyoftheStateofVermont: |
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| 14 | | - | Sec.1.32V.S.A.chapter151,subchapter11Jisamendedtoread: |
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| 15 | | - | Subchapter11J.VermontDowntownandVillageCenterTaxCreditProgram |
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| 16 | | - | *** |
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| 17 | | - | §5930ee.LIMITATIONS |
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| 18 | | - | Beginninginfiscalyear2010andthereafter,theStateBoardmayawardtax |
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| 19 | | - | creditstoallqualifiedapplicantsunderthissubchapter,providedthat: |
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| 36 | | - | 17 BILLASINTRODUCEDANDPASSEDBYSENATE S.122 |
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| 37 | | - | 2025 Page2of17 |
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| 38 | | - | (1)thetotalamountoftaxcreditsawardedannually,togetherwithsales |
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| 39 | | - | taxreallocatedundersection9819ofthistitle,doesnotexceed$3,000,000.00 |
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| 40 | | - | $5,000,000.00; |
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| 41 | | - | (2)atotalannualallocationofnonotmorethan30percentofthesetax |
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| 42 | | - | creditsincombinationwithsalestaxreallocationmaybeawardedin |
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| 43 | | - | connectionwithalloftheprojectsinasinglemunicipality; |
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| 44 | | - | (3)façadetaxcreditsshallnotbeavailableforprojectsthatqualifyfor |
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| 45 | | - | thefederalrehabilitationtaxcredit; |
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| 46 | | - | (4)nocreditshallbeallowedunderthissubchapterforthecostof |
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| 47 | | - | acquiringanybuildingorinterestinabuilding; |
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| 48 | | - | (5)creditunderanyonesubsectionof5930ccofthissubchaptermay |
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| 49 | | - | notbeallocatedmoreoftenthanonceeverytwoyearswithrespecttothesame |
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| 50 | | - | building;and |
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| 51 | | - | (6)creditawardedundersection5930ccofthissubchapterthatis |
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| 52 | | - | rescindedorrecapturedbytheStateBoardshallbeavailablefortheState |
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| 53 | | - | Boardtoawardtoapplicantsinanysubsequentyear,inadditiontothetotal |
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| 54 | | - | amountoftaxcreditsauthorizedunderthissection. |
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| 55 | | - | *** |
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| 56 | | - | Sec.2.EXPANDINGSERVICESFORSMALLBUSINESSES |
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| 57 | | - | (a)Expandinglegalservices.Infiscalyear2026,thereisappropriatedthe |
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| 58 | | - | sumof$300,000.00fromtheGeneralFundtotheDepartmentofEconomic |
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| 79 | | - | 21 BILLASINTRODUCEDANDPASSEDBYSENATE S.122 |
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| 80 | | - | 2025 Page3of17 |
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| 81 | | - | DevelopmentforthepurposeofsupportingtheVermontLawandGraduate |
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| 82 | | - | School’spubliceducationofferingsandfreelegalsupporttosmallbusinesses |
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| 83 | | - | throughitsVermontSmallBusinessLawCenter,whichinclude: |
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| 84 | | - | (1)individualandgroupeducationaltrainingsandconsultations; |
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| 85 | | - | (2)anongoingwebinarseriesonlegalbasicsforstartups;and |
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| 86 | | - | (3)anattorneyreferralprogram. |
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| 87 | | - | (b)Professionalsofcolornetwork.Infiscalyear2026,thereis |
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| 88 | | - | appropriatedthesumof$350,000.00fromtheGeneralFundtotheDepartment |
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| 89 | | - | ofEconomicDevelopmentforthepurposeofcontinuingthesupportofthe |
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| 90 | | - | VermontProfessionalsofColorNetworkinitscriticalworkforceandbusiness |
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| 91 | | - | developmentservicesitprovidestoBIPOCbusinesscommunitiesandto |
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| 92 | | - | supporttheexpansionofitsbusinesstechnicalassistanceservices,which |
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| 93 | | - | includeseducationonbasicbusinesspractices,resourcenavigation,and |
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| 94 | | - | networkingsupporttoBIPOCsmallbusinessowners. |
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| 95 | | - | (c)Businessadvising.Infiscalyear2026,thereisappropriatedthesumof |
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| 96 | | - | $688,889.00fromtheGeneralFundtotheVermontSmallBusiness |
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| 97 | | - | DevelopmentCenterforthepurposeofsupportingthecontinuationofitswork |
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| 98 | | - | inhelpingVermontersstart,acquire,andgrowbusinesses.Thefundsshall |
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| 99 | | - | alsobeusedtoincreasebusinessadvisingandeducationalworkshopstomeet |
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| 100 | | - | increasingdemandsofentrepreneursandsmallbusinessownerspost |
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| 101 | | - | pandemic.Thisincreaseof$300,000.00fromtheGovernor’ssuggested |
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| 122 | | - | 21 BILLASINTRODUCEDANDPASSEDBYSENATE S.122 |
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| 123 | | - | 2025 Page4of17 |
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| 124 | | - | budgetwillallowtheCentertoserveanadditional200Vermontentrepreneurs |
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| 125 | | - | andbusinessownersthroughno-fee,one-to-oneadvisingtohelpthemstart |
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| 126 | | - | businesses,addandretainjobs,increasesales,exportproducts,andprepare |
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| 127 | | - | theirownershipsuccessionplantotransferownershipforthebusinessto |
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| 128 | | - | continuetooperateinVermont. |
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| 129 | | - | (d)Creationofresourceguide.Infiscalyear2026,inadditiontoanyother |
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| 130 | | - | fundsappropriatedtotheVermontSustainableJobsFundProgram,thereis |
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| 131 | | - | appropriated$100,000.00fromtheGeneralFundtotheProgramforpurpose |
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| 132 | | - | ofcreatingadefinitivebusinessresourceguidedirectedtowardssmall |
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| 133 | | - | businesses.Thefundsshallsupportthecreationofamagazine-styleannual |
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| 134 | | - | guidefeaturingprofilesofVermontbusinessserviceorganizations,an |
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| 135 | | - | interactivewebsitethatservesasthedigitalhomefortheguide’scontent,and |
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| 136 | | - | anartificialintelligenceplatformthatcomplementsthewebsitebyincluding |
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| 137 | | - | events,grants,programs,andeducationalcontent.Theguide,website,and |
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| 138 | | - | artificialintelligenceplatformsupportedbytheappropriationmadeinthis |
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| 139 | | - | subsectionshallbecompletedonorbeforeDecember1,2026. |
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| 140 | | - | (e)Microbusinesssupport.Infiscalyear2026,thereisappropriated |
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| 141 | | - | $581,000.00fromtheGeneralFundtotheOfficeofEconomicOpportunityfor |
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| 142 | | - | thepurposeofsupportingtheVermontCommunityActionPartnership’s |
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| 143 | | - | microbusinessdevelopmentprogram. |
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| 163 | | - | 20 BILLASINTRODUCEDANDPASSEDBYSENATE S.122 |
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| 164 | | - | 2025 Page5of17 |
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| 165 | | - | (f)Smallbusinessownercoachingservices.Infiscalyear2026,thereis |
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| 166 | | - | appropriated$120,000.00fromtheGeneralFundtotheVermontSmall |
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| 167 | | - | BusinessDevelopmentCenterforthepurposeofprovidingexecutivebusiness |
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| 168 | | - | skillstrainingandcoachingsupporttoownersofsmallbusinesseswith20or |
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| 169 | | - | feweremployeesandthatareatthegrowthstageoftheirbusiness |
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| 170 | | - | development.TheCentershallcontractwiththeVermontSustainableJobs |
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| 171 | | - | FundProgramandtheVermontManufacturingExtensionCentertodeliverthe |
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| 172 | | - | skillstrainingandcoachingservicesovera12-to-18-monthperiod,witha |
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| 173 | | - | definedscopeofworkdevelopedincollaborationwitheachbusinessowner |
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| 174 | | - | served.Theservicesshallincludethefollowingtopics: |
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| 175 | | - | (1)developingasalesandmarketingstrategytothebusiness’accessto |
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| 176 | | - | markets; |
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| 177 | | - | (2)improvingbusinesscoreoperations; |
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| 178 | | - | (3)conductingstrategicplanning; |
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| 179 | | - | (4)supportingthetrainingneedsofthebusinessmanagementteam; |
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| 180 | | - | (5)supportingsuccessionplanning,ifneeded;and |
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| 181 | | - | (6)providingotherimportantdevelopmentnextstepstoadvancethe |
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| 182 | | - | business. |
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| 183 | | - | Sec.3.VERMONTARTSCOUNCIL;VERMONTFILMANDCREATIVE |
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| 184 | | - | MEDIAINDUSTRYINITIATIVE |
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| 204 | | - | 20 BILLASINTRODUCEDANDPASSEDBYSENATE S.122 |
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| 205 | | - | 2025 Page6of17 |
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| 206 | | - | (a)Basefundingincrease.Infiscalyear2026,thereisappropriatedthe |
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| 207 | | - | sumof$1,071,800.00fromtheGeneralFundtotheVermontArtsCouncil, |
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| 208 | | - | whichincludesanannualincreaseof$68,737.00.Thisincreasewouldmatch |
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| 209 | | - | theestimatedfederalcontributionwhichisrequiredinordertoreceivethe |
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| 210 | | - | entireamountfromthefederalgovernment. |
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| 211 | | - | (b)Buildingdatabase.Infiscalyear2026,thereisappropriatedthesumof |
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| 212 | | - | $120,000.00fromtheGeneralFundtotheVermontArtsCouncilforthe |
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| 213 | | - | purposeofsupportingtheVermontfilmandcreativemediaindustryinitiative, |
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| 214 | | - | whichwillbuildthebasicindustrystructureneededtogrowVermont’sfilm |
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| 215 | | - | andcreativemediasectorforthepurposeofsupportingandgrowingthe |
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| 216 | | - | Vermontfilmandcreativemediacommunityandindustry,includingacademic, |
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| 217 | | - | educational,creative,commercial,andexhibitionresources.Thefundsshall |
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| 218 | | - | beusedto: |
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| 219 | | - | (1)buildandmaintainanonlinedatabaseoffilmandcreativemedia |
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| 220 | | - | assetsandopportunities;and |
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| 221 | | - | (1)buildandmaintainanonlinedatabaseoffilmandcreativemedia |
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| 222 | | - | thatincludesassets,opportunities,professionals,resources,andevents;and |
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| 223 | | - | (2)supportapart-timestaffpositionwithintheVermontArtsCouncilto |
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| 224 | | - | managethedatabaseprojectsetforthinsubdivision(1)ofthissubsectionand |
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| 225 | | - | toserveasthepointofcontactforfilmindustryprofessionals. |
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| 226 | | - | (2)supportapart-timestaffpositionwithintheVermontArtsCouncilto |
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| 227 | | - | managethedatabaseprojectsetforthinsubdivision(1)ofthissubsectionand |
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| 248 | | - | 21 BILLASINTRODUCEDANDPASSEDBYSENATE S.122 |
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| 249 | | - | 2025 Page7of17 |
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| 250 | | - | toserveasthepointofcontactforfilmandcreativemediacreators, |
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| 251 | | - | exhibitioners,andindustryprofessionals. |
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| 252 | | - | Sec.4.OUTDOORRECREATIONBUSINESSES;APPROPRIATION |
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| 253 | | - | Infiscalyear2026,thereisappropriatedthesumof$250,000.00fromthe |
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| 254 | | - | GeneralFundtotheDepartmentofForests,ParksandRecreationtosupport |
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| 255 | | - | theVermontOutdoorBusinessAlliance’sClimateandCircularityOutdoor |
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| 256 | | - | BusinessProgram,whichprovidessustainabilityandinnovationtechnical |
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| 257 | | - | assistancetoVermont’soutdoorsectorforbusinessplanningandadaptations |
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| 258 | | - | leadingtostabilityinthefaceofclimatechange,theshifttoacircular |
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| 259 | | - | economy,andincreasedresponsivenesstoconsumerbehaviorandoutdoor |
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| 260 | | - | visitationtrends.Fundsappropriatedshallbeusedfor: |
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| 261 | | - | (1)providingtechnicalassistancetooutdoorbusinesses; |
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| 262 | | - | (2)managingsmallgroupworkshopsandone-on-oneconsultations;and |
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| 263 | | - | (3)coordinatingindustryeventsthatwillassistbusinessesonfinancial |
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| 264 | | - | planningandappropriateadaptations. |
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| 265 | | - | Sec.5.INTERNATIONALTRADEOFFICE;APPROPRIATION |
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| 266 | | - | Infiscalyear2026,thereisappropriatedthesumof$350,000.00fromthe |
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| 267 | | - | GeneralFundtotheDepartmentofEconomicDevelopmentforthepurposeof |
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| 268 | | - | supportingtheInternationalTradeDivision’sinitiativesto: |
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| 269 | | - | (1)hireinternationalrecruitmentconsultantstofocusmoreon |
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| 270 | | - | internationalmarkets; |
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| 291 | | - | (2)developanddeployadvancedsiteselectiondataandmappingtools |
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| 292 | | - | toassistpotentialinvestors; |
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| 293 | | - | (3)expandVermont’spresenceatnationalandinternationaltrade |
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| 294 | | - | shows;and |
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| 295 | | - | (4)sponsoreventsandinitiativesthatalignwithVermont’seconomic |
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| 296 | | - | developmentgoals. |
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| 297 | | - | Sec.6.9V.S.A.chapter111Bisaddedtoread: |
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| 298 | | - | CHAPTER111B.TRADECOMMISSIONS |
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| 299 | | - | § 4129.VERMONT-IRELANDTRADECOMMISSION |
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| 300 | | - | (a)TheVermont-IrelandTradeCommissionisestablishedwithintheState |
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| 301 | | - | Treasurer’sofficetoadvancebilateraltradeandinvestmentbetweenVermont |
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| 302 | | - | andIreland.TheCommissionshallconsistof10membersasfollows: |
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| 303 | | - | (1)threemembers,appointedbytheGovernor; |
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| 304 | | - | (2)threemembers,appointedbytheSpeakeroftheHouse; |
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| 305 | | - | (3)threemembers,appointedbytheSenateCommitteeonCommittees; |
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| 306 | | - | and |
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| 307 | | - | (4)theStateTreasurerordesignee. |
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| 308 | | - | (a)TheVermont-IrelandTradeCommissionisestablishedwithintheState |
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| 309 | | - | Treasurer’sofficetoadvancebilateraltradeandinvestmentbetweenVermont |
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| 310 | | - | andIreland.TheCommissionshallconsistofsevenmembersasfollows: |
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| 311 | | - | (1)twomembers,appointedbytheGovernor; |
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| 312 | | - | (2)twomembers,appointedbytheSpeakeroftheHouse; |
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| 313 | | - | (3)twomembers,appointedbytheSenateCommitteeonCommittees; |
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| 314 | | - | and |
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| 333 | | - | (4)theStateTreasurerordesignee. |
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| 334 | | - | (b)ThepurposesoftheVermont-IrelandTradeCommissionareto: |
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| 335 | | - | (1)advancebilateraltradeandinvestmentbetweenVermontand |
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| 336 | | - | Ireland; |
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| 337 | | - | (2)initiatejointactiononpolicyissuesofmutualinteresttoVermont |
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| 338 | | - | andIreland; |
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| 339 | | - | (3)promotebusinessandacademicexchangesbetweenVermontand |
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| 340 | | - | Ireland; |
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| 341 | | - | (4)encouragemutualeconomicsupportbetweenVermontandIreland; |
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| 342 | | - | (5)encouragemutualinvestmentintheinfrastructureofVermontand |
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| 343 | | - | Ireland;and |
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| 344 | | - | (6)addressotherissuesasdeterminedbytheCommission. |
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| 345 | | - | (c)ThemembersoftheCommission,exceptfortheStateTreasureror |
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| 346 | | - | designee,shallbeappointedfortermsoffouryearseachandshallcontinueto |
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| 347 | | - | serveuntiltheirsuccessorsareappointed,exceptthatinordertoachieve |
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| 348 | | - | staggeredterms,thethreemembersappointedbytheGovernorshallserve |
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| 349 | | - | initialtermsoftwoyearseachandthethreemembersappointedbythe |
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| 350 | | - | SpeakeroftheHouseshallserveinitialtermsofthreeyearseach.Members |
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| 351 | | - | maybereappointed.Amemberservesatthepleasureofthemember’s |
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| 352 | | - | appointingauthority. |
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| 353 | | - | (c)ThemembersoftheCommission,exceptfortheStateTreasureror |
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| 354 | | - | designee,shallbeappointedfortermsoffouryearseachandshallcontinueto |
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| 355 | | - | serveuntiltheirsuccessorsareappointed,exceptthatinordertoachieve |
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| 374 | | - | 19 BILLASINTRODUCEDANDPASSEDBYSENATE S.122 |
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| 375 | | - | 2025 Page10of17 |
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| 376 | | - | staggeredterms,thetwomembersappointedbytheGovernorshallserve |
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| 377 | | - | initialtermsoftwoyearseachandthetwomembersappointedbytheSpeaker |
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| 378 | | - | oftheHouseshallserveinitialtermsoftwoyearseach.Membersmaybe |
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| 379 | | - | reappointed.Amemberservesatthepleasureofthemember’sappointing |
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| 380 | | - | authority.NotmorethantwomembersservingontheCommissionmaybe |
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| 381 | | - | membersoftheGeneralAssembly. |
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| 382 | | - | (d)AvacancyinthemembershipoftheCommissionshallbefilledbythe |
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| 383 | | - | relevantappointingauthoritywithin90daysafterthevacancy. |
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| 384 | | - | (e)TheCommissionshallselectachairfromamongitsmembersatthe |
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| 385 | | - | firstmeeting.TheChair,asappropriate,mayappointfromamongthe |
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| 386 | | - | CommissionmemberssubcommitteesorasubcommitteeattheChair’s |
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| 387 | | - | discretion.AmajorityofthemembersoftheCommissionshallconstitutea |
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| 388 | | - | quorumforpurposesoftransactingthebusinessoftheCommission. |
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| 389 | | - | (f)TheCommissionshallsubmitawrittenreportwithitsfindings,results, |
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| 390 | | - | andrecommendationstotheGovernorandtheGeneralAssemblywithinone |
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| 391 | | - | yearofitsinitialorganizationalmeetingandonorbeforeDecember1ofeach |
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| 392 | | - | succeedingyearfortheactivitiesofthecurrentcalendaryear.Thereportshall |
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| 393 | | - | alsoincludeadisclosurelistinganyin-kindcontributionsreceivedbyspecific |
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| 394 | | - | membersoftheCommissionthroughtheirworkintheCommissioninthe |
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| 395 | | - | currentcalendaryear. |
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| 396 | | - | (g)TheVermont-IrelandTradeCommissionisauthorizedtoraisefunds, |
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| 397 | | - | throughdirectsolicitationorotherfundraisingevents,aloneorwithother |
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| 398 | | - | groups,andacceptdonations,grants,andbequestsfromindividuals, |
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| 399 | | - | corporations,foundations,governmentalagencies,andpublicandprivate |
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| 417 | | - | 18 BILLASINTRODUCEDANDPASSEDBYSENATE S.122 |
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| 418 | | - | 2025 Page11of17 |
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| 419 | | - | organizationsandinstitutions,todefraytheCommission’sadministrative |
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| 420 | | - | expensesandtocarryoutitspurposesassetforthinthischapter.Thefunds, |
|---|
| 421 | | - | donations,grants,orbequestsreceivedpursuanttothischaptershallbe |
|---|
| 422 | | - | depositedinabankaccountandallocatedannuallybytheStateTreasurer’s |
|---|
| 423 | | - | officetodefraytheCommission’sadministrativeexpensesandcarryoutits |
|---|
| 424 | | - | purposes.Anymoniessowithdrawnshallnotbeusedforanypurposeother |
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| 425 | | - | thanthepaymentofexpensesunderthischapter.Interestearnedshallremain |
|---|
| 426 | | - | inthebankaccount. |
|---|
| 427 | | - | (h)(1)ForattendanceatmeetingsduringadjournmentoftheGeneral |
|---|
| 428 | | - | Assembly,alegislativememberoftheCommissionservinginthemember’s |
|---|
| 429 | | - | capacityasalegislatorshallbeentitledtoperdiemcompensationand |
|---|
| 430 | | - | reimbursementofexpensespursuantto2 V.S.A.§ 23fornotmorethansix |
|---|
| 431 | | - | meetingspercalendaryear. |
|---|
| 432 | | - | (2)OthermembersoftheCommissionshallbeentitledto |
|---|
| 433 | | - | reimbursementofexpensesaspermittedunder32 V.S.A.§ 1010fornotmore |
|---|
| 434 | | - | thansixmeetingspercalendaryear. |
|---|
| 435 | | - | (3)PaymentstomembersoftheCommissionauthorizedunderthis |
|---|
| 436 | | - | subsectionshallbemadefrommoniesappropriatedtotheGeneralAssembly. |
|---|
| 437 | | - | Sec.7.INITIALAPPOINTMENTDEADLINEFORVERMONT-IRELAND |
|---|
| 438 | | - | TRADECOMMISSION |
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| 439 | | - | 1 |
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| 458 | | - | 20 BILLASINTRODUCEDANDPASSEDBYSENATE S.122 |
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| 459 | | - | 2025 Page12of17 |
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| 460 | | - | InitialappointmentstotheVermont-IrelandTradeCommissionshallbe |
|---|
| 461 | | - | madenotlaterthanOctober1,2025. |
|---|
| 462 | | - | Sec.8.REPEAL;VERMONT-IRELANDTRADECOMMISSION |
|---|
| 463 | | - | 9V.S.A.§4129(Vermont-IrelandTradeCommission)asaddedbythisact |
|---|
| 464 | | - | isrepealedonJune30,2030. |
|---|
| 465 | | - | Sec.9.STUDYTOADDRESSBUSINESSGROWTHAND |
|---|
| 466 | | - | ACCESSINGCAPITAL;REPORT |
|---|
| 467 | | - | (a)Task.TheAgencyofCommerceandCommunityDevelopmentshall |
|---|
| 468 | | - | conductastudytoanalyzethewaystheStatecanbetterenablebusiness |
|---|
| 469 | | - | growthandimproveaccesstocapitalinVermont.Asapartofitsstudy,the |
|---|
| 470 | | - | Agencyshall: |
|---|
| 471 | | - | (1)solicittestimonyfromstart-upandearly-stagebusinessesthathave |
|---|
| 472 | | - | struggledtoraisecapital; |
|---|
| 473 | | - | (2)identifyadditionalmechanismsfortheinvestor-lendercommunityto |
|---|
| 474 | | - | connectandlearnfromeachother; |
|---|
| 475 | | - | (3)evaluatetheState’sroleinaccessingcapital,including: |
|---|
| 476 | | - | (A)theinvestmentenvironmentintheNewEnglandregion; |
|---|
| 477 | | - | (B)availabilityoftaxcreditstoleverageprivatecapital;and |
|---|
| 478 | | - | (C)ensuringsupportofthecurrentTechHubdesignation; |
|---|
| 479 | | - | (4)identifywaystoofferinvestoreducationtohighnetworth |
|---|
| 480 | | - | individualsinterestedininvestinginVermontbusinesses;and |
|---|
| 481 | | - | 1 |
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| 501 | | - | 21 BILLASINTRODUCEDANDPASSEDBYSENATE S.122 |
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| 502 | | - | 2025 Page13of17 |
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| 503 | | - | (5)evaluateanyotherrelatedissuesasdeterminedbytheAgency. |
|---|
| 504 | | - | (b)Report.OnorbeforeNovember1,2025,theAgencyshallsubmita |
|---|
| 505 | | - | writtenreporttotheHouseCommitteeonCommerceandEconomic |
|---|
| 506 | | - | DevelopmentandtheSenateCommitteeonEconomicDevelopment,Housing |
|---|
| 507 | | - | andGeneralAffairswithitsfindingsandanyrecommendationsforlegislative |
|---|
| 508 | | - | actionbasedonthetasksetforthinsubsection(a)ofthissection. |
|---|
| 509 | | - | Sec.10.TASKFORCETOEXPLOREDEVELOPMENT OF |
|---|
| 510 | | - | CONVENTIONCENTERANDPERFORMANCE VENUE |
|---|
| 511 | | - | (a)Creation.ThereiscreatedtheConventionCenterandPerformance |
|---|
| 512 | | - | VenueTaskForcetostudythefeasibilityofconstructingaconventioncenter |
|---|
| 513 | | - | andperformancevenueinVermont. |
|---|
| 514 | | - | (b)Membership.TheTaskForceshallbecomposedofthefollowing |
|---|
| 515 | | - | members: |
|---|
| 516 | | - | (1)onecurrentmemberoftheHouseofRepresentatives,whoshallbe |
|---|
| 517 | | - | appointedbytheSpeakeroftheHouse; |
|---|
| 518 | | - | (2)onecurrentmemberoftheSenate,whoshallbeappointedbythe |
|---|
| 519 | | - | CommitteeonCommittees; |
|---|
| 520 | | - | (3)theSecretaryofCommerceandCommunityDevelopmentor |
|---|
| 521 | | - | designee; |
|---|
| 522 | | - | (4)thePresidentoftheVermontChamberofCommerceordesignee; |
|---|
| 523 | | - | 1 |
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| 524 | | - | 2 |
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| 542 | | - | 20 BILLASINTRODUCEDANDPASSEDBYSENATE S.122 |
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| 543 | | - | 2025 Page14of17 |
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| 544 | | - | (5)theChiefExecutiveOfficeroftheLakeChamplainChamberof |
|---|
| 545 | | - | Commerceordesignee;and |
|---|
| 546 | | - | (6)thePresidentoftheRegionalDevelopmentCorporationsor |
|---|
| 547 | | - | designee. |
|---|
| 548 | | - | (c)Powersandduties.TheTaskForce,inreviewingthefeasibilityof |
|---|
| 549 | | - | constructingaconventioncenterandperformancevenueinVermont,shall: |
|---|
| 550 | | - | (1)determinetheabilityoftheStatetosupporttheprojectsthrough |
|---|
| 551 | | - | appropriations,bonding,taxinstruments,andotherfinancialassistance; |
|---|
| 552 | | - | (2)identifyinfrastructureimprovementsneededfortheprojects, |
|---|
| 553 | | - | includingwater,sewer,transportation,lodging,andfood; |
|---|
| 554 | | - | (3)considermanagementandoperationaloptionsforownership, |
|---|
| 555 | | - | maintenance,staffing,andrelateditemsfortheprojects; |
|---|
| 556 | | - | (4)researchtheattributesofconventioncentersandperformancevenues |
|---|
| 557 | | - | thathavebeenrecentlyandsuccessfullydevelopedinotherstates;and |
|---|
| 558 | | - | (5)evaluatetheeconomicimpactandanticipatedreturnoninvestment |
|---|
| 559 | | - | ofhavingaconventioncenterandperformancevenue. |
|---|
| 560 | | - | (d)Assistance.TheTaskForceshallhavetheadministrative,technical, |
|---|
| 561 | | - | andlegalassistanceoftheAgencyofCommerceandCommunity |
|---|
| 562 | | - | Development. |
|---|
| 563 | | - | (e)Reports.OnorbeforeNovember1,2025,theTaskForceshallsubmit |
|---|
| 564 | | - | aninterimreporttotheHouseCommitteeonCommerceandEconomic |
|---|
| 565 | | - | 1 |
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| 585 | | - | 21 BILLASINTRODUCEDANDPASSEDBYSENATE S.122 |
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| 586 | | - | 2025 Page15of17 |
|---|
| 587 | | - | DevelopmentandtheSenateCommitteeonEconomicDevelopment,Housing |
|---|
| 588 | | - | andGeneralAffairswithanupdateonitsworkpursuanttosubsection(c)of |
|---|
| 589 | | - | thissection.OnorbeforeNovember1,2026,theTaskForceshallsubmita |
|---|
| 590 | | - | finalwrittenreporttotheHouseCommitteeonCommerceandEconomic |
|---|
| 591 | | - | DevelopmentandtheSenateCommitteeonEconomicDevelopment,Housing |
|---|
| 592 | | - | andGeneralAffairswithitsfindingsandanyrecommendationsforlegislative |
|---|
| 593 | | - | action. |
|---|
| 594 | | - | (f)Meetings. |
|---|
| 595 | | - | (1)TheSecretaryofCommerceandCommunityDevelopmentshallcall |
|---|
| 596 | | - | thefirstmeetingoftheTaskForcetooccuronorbeforeJuly15,2025. |
|---|
| 597 | | - | (2)TheCommitteeshallselectachairfromamongitsmembersatthe |
|---|
| 598 | | - | firstmeeting. |
|---|
| 599 | | - | (3)Amajorityofthemembershipshallconstituteaquorum. |
|---|
| 600 | | - | (4)TheTaskForceshallceasetoexistonDecember1,2026. |
|---|
| 601 | | - | (g)Compensationandreimbursement. |
|---|
| 602 | | - | (1)ForattendanceatmeetingsduringadjournmentoftheGeneral |
|---|
| 603 | | - | Assembly,alegislativememberoftheTaskForceservinginthemember’s |
|---|
| 604 | | - | capacityasalegislatorshallbeentitledtoperdiemcompensationand |
|---|
| 605 | | - | reimbursementofexpensespursuantto2 V.S.A.§ 23fornotmorethaneight |
|---|
| 606 | | - | meetings. |
|---|
| 607 | | - | 1 |
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| 609 | | - | 3 |
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| 626 | | - | 20 BILLASINTRODUCEDANDPASSEDBYSENATE S.122 |
|---|
| 627 | | - | 2025 Page16of17 |
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| 628 | | - | (2)OthermembersoftheTaskForceshallbeentitledtoreimbursement |
|---|
| 629 | | - | ofexpensesaspermittedunder32 V.S.A.§ 1010fornotmorethaneight |
|---|
| 630 | | - | meetings. |
|---|
| 631 | | - | (3)PaymentstomembersoftheTaskForceauthorizedunderthis |
|---|
| 632 | | - | subsectionshallbemadefrommoniesappropriatedtoTheGeneralAssembly. |
|---|
| 633 | | - | Sec.10a.CONTINGENCYONFUNDING |
|---|
| 634 | | - | ThedutytoimplementSecs.1–5ofthisactiscontingentuponan |
|---|
| 635 | | - | appropriationinfiscalyear2026fromtheGeneralFundforthespecific |
|---|
| 636 | | - | purposesdescribedinthisact. |
|---|
| 637 | | - | Sec.10b.3V.S.A.§ 23isamendedtoread: |
|---|
| 638 | | - | §23.THECOMMISSIONONINTERNATIONALTRADE |
|---|
| 639 | | - | (a)Definitions.Forthepurposesofthissection:“InternationalTrade |
|---|
| 640 | | - | Agreement”meansatradeagreementbetweenthefederalgovernmentanda |
|---|
| 641 | | - | foreigncountryorbetweenVermontandaforeigncountry.InternationalTrade |
|---|
| 642 | | - | AgreementdoesnotincludeatradeagreementbetweentheStateandaforeign |
|---|
| 643 | | - | countrytowhichthefederalgovernmentisnotaparty. |
|---|
| 644 | | - | *** |
|---|
| 645 | | - | (c)Powersandduties. |
|---|
| 646 | | - | (1)TheCommissionshallconductanannualassessmentofthelegal |
|---|
| 647 | | - | andeconomicimpactsofInternationalTradeAgreementsonStateandlocal |
|---|
| 648 | | - | laws,Statesovereignty,andthebusinessenvironment. |
|---|
| 649 | | - | (2)Itshallprovideamechanismforcitizensandlegislatorstovoice |
|---|
| 650 | | - | theirconcerns,whichitshallusetomakepolicyrecommendationstothe |
|---|
| 651 | | - | GeneralAssembly,totheGovernor,toVermont’scongressionaldelegation,or |
|---|
| 652 | | - | tothetraderepresentativesoftheUnitedStatesgovernment.Recommendations |
|---|
| 653 | | - | shallbedesignedtoprotectVermont’sjobandbusinessenvironment,andState |
|---|
| 654 | | - | sovereigntyfromanynegativeimpactsoftradeagreements. |
|---|
| 655 | | - | (3)Itmayrecommendlegislationorpreferredpracticesandshallwork |
|---|
| 656 | | - | withinterestedgroupsinotherstatestodevelopmeanstoresolvethe |
|---|
| 657 | | - | conflictinggoalsandtensioninherentintherelationshipbetweeninternational |
|---|
| 658 | | - | tradeandStatesovereignty. |
|---|
| 659 | | - | (4)Asprovidedforin9V.S.A.chapter111A,theCommissionshall |
|---|
| 660 | | - | consideranddevelopformalrecommendationswithrespecttohowtheState |
|---|
| 661 | | - | 1 |
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| 663 | | - | 3 |
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| 664 | | - | 4 |
|---|
| 665 | | - | 5 BILLASINTRODUCEDANDPASSEDBYSENATE S.122 |
|---|
| 666 | | - | 2025 Page17of17 |
|---|
| 667 | | - | shouldbestrespondtochallengesandopportunitiesposedbyaparticular |
|---|
| 668 | | - | InternationalAgreement. |
|---|
| 669 | | - | (5)TheCommissionshallbeconsultedwhenatradecommission |
|---|
| 670 | | - | pursuantto9V.S.A.chapter 111BisproposedtobeestablishedbytheGeneral |
|---|
| 671 | | - | Assemblyandshallprovidearecommendationastowhetherthetrade |
|---|
| 672 | | - | commissionshallbeestablished. |
|---|
| 673 | | - | *** |
|---|
| 674 | | - | Sec.11.EFFECTIVEDATE |
|---|
| 675 | | - | ThisactshalltakeeffectonJuly1,2025. |
|---|
| 676 | | - | 1 |
|---|
| 677 | | - | 2 |
|---|
| 1 | + | BILL AS INTRODUCED S.122 |
|---|
| 2 | + | 2025 Page 1 of 15 |
|---|
| 3 | + | |
|---|
| 4 | + | |
|---|
| 5 | + | VT LEG #381041 v.1 |
|---|
| 6 | + | S.122 1 |
|---|
| 7 | + | Introduced by Committee on Economic Development, Housing and General 2 |
|---|
| 8 | + | Affairs 3 |
|---|
| 9 | + | Date: 4 |
|---|
| 10 | + | Subject: Conservation and development; economic and workforce 5 |
|---|
| 11 | + | development; small business 6 |
|---|
| 12 | + | Statement of purpose of bill as introduced: This bill proposes to provide 7 |
|---|
| 13 | + | support to existing economic and workforce development programs to help 8 |
|---|
| 14 | + | small businesses grow in Vermont. 9 |
|---|
| 15 | + | An act relating to economic and workforce development 10 |
|---|
| 16 | + | It is hereby enacted by the General Assembly of the State of Vermont: 11 |
|---|
| 17 | + | Sec. 1. 32 V.S.A. chapter 151, subchapter 11J is amended to read: 12 |
|---|
| 18 | + | Subchapter 11J. Vermont Downtown and Village Center Tax Credit Program 13 |
|---|
| 19 | + | * * * 14 |
|---|
| 20 | + | § 5930ee. LIMITATIONS 15 |
|---|
| 21 | + | Beginning in fiscal year 2010 and thereafter, the State Board may award tax 16 |
|---|
| 22 | + | credits to all qualified applicants under this subchapter, provided that: 17 |
|---|
| 23 | + | (1) the total amount of tax credits awarded annually, together with sales 18 |
|---|
| 24 | + | tax reallocated under section 9819 of this title, does not exceed $3,000,000.00 19 |
|---|
| 25 | + | $5,000,000.00; 20 BILL AS INTRODUCED S.122 |
|---|
| 26 | + | 2025 Page 2 of 15 |
|---|
| 27 | + | |
|---|
| 28 | + | |
|---|
| 29 | + | VT LEG #381041 v.1 |
|---|
| 30 | + | (2) a total annual allocation of no not more than 30 percent of these tax 1 |
|---|
| 31 | + | credits in combination with sales tax reallocation may be awarded in 2 |
|---|
| 32 | + | connection with all of the projects in a single municipality; 3 |
|---|
| 33 | + | (3) façade tax credits shall not be available for projects that qualify for 4 |
|---|
| 34 | + | the federal rehabilitation tax credit; 5 |
|---|
| 35 | + | (4) no credit shall be allowed under this subchapter for the cost of 6 |
|---|
| 36 | + | acquiring any building or interest in a building; 7 |
|---|
| 37 | + | (5) credit under any one subsection of 5930cc of this subchapter may 8 |
|---|
| 38 | + | not be allocated more often than once every two years with respect to the same 9 |
|---|
| 39 | + | building; and 10 |
|---|
| 40 | + | (6) credit awarded under section 5930cc of this subchapter that is 11 |
|---|
| 41 | + | rescinded or recaptured by the State Board shall be available for the State 12 |
|---|
| 42 | + | Board to award to applicants in any subsequent year, in addition to the total 13 |
|---|
| 43 | + | amount of tax credits authorized under this section. 14 |
|---|
| 44 | + | * * * 15 |
|---|
| 45 | + | Sec. 2. EXPANDING SERVICES FOR SMALL BUSINESSES 16 |
|---|
| 46 | + | (a) Expanding legal services. In fiscal year 2026, there is appropriated the 17 |
|---|
| 47 | + | sum of $300,000.00 from the General Fund to the Department of Economic 18 |
|---|
| 48 | + | Development for the purpose of supporting the Vermont Law and Graduate 19 |
|---|
| 49 | + | School’s public education offerings and free legal support to small businesses 20 |
|---|
| 50 | + | through its Vermont Small Business Law Center, which include: 21 BILL AS INTRODUCED S.122 |
|---|
| 51 | + | 2025 Page 3 of 15 |
|---|
| 52 | + | |
|---|
| 53 | + | |
|---|
| 54 | + | VT LEG #381041 v.1 |
|---|
| 55 | + | (1) individual and group educational trainings and consultations; 1 |
|---|
| 56 | + | (2) an ongoing webinar series on legal basics for startups; and 2 |
|---|
| 57 | + | (3) an attorney referral program. 3 |
|---|
| 58 | + | (b) Professionals of color network. In fiscal year 2026, there is 4 |
|---|
| 59 | + | appropriated the sum of $350,000.00 from the General Fund to the Department 5 |
|---|
| 60 | + | of Economic Development for the purpose of continuing the support of the 6 |
|---|
| 61 | + | Vermont Professionals of Color Network in its critical workforce and business 7 |
|---|
| 62 | + | development services it provides to BIPOC business communities and to 8 |
|---|
| 63 | + | support the expansion of its business technical assistance services, which 9 |
|---|
| 64 | + | includes education on basic business practices, resource navigation, and 10 |
|---|
| 65 | + | networking support to BIPOC small business owners. 11 |
|---|
| 66 | + | (c) Business advising. In fiscal year 2026, there is appropriated the sum of 12 |
|---|
| 67 | + | $688,889.00 from the General Fund to the Vermont Small Business 13 |
|---|
| 68 | + | Development Center for the purpose of supporting the continuation of its work 14 |
|---|
| 69 | + | in helping Vermonters start, acquire, and grow businesses. The funds shall 15 |
|---|
| 70 | + | also be used to increase business advising and educational workshops to meet 16 |
|---|
| 71 | + | increasing demands of entrepreneurs and small business owners post 17 |
|---|
| 72 | + | pandemic. This increase of $300,000.00 from the Governor’s suggested 18 |
|---|
| 73 | + | budget will allow the Center to serve an additional 200 Vermont entrepreneurs 19 |
|---|
| 74 | + | and business owners through no-fee, one-to-one advising to help them start 20 |
|---|
| 75 | + | businesses, add and retain jobs, increase sales, export products, and prepare 21 BILL AS INTRODUCED S.122 |
|---|
| 76 | + | 2025 Page 4 of 15 |
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| 77 | + | |
|---|
| 78 | + | |
|---|
| 79 | + | VT LEG #381041 v.1 |
|---|
| 80 | + | their ownership succession plan to transfer ownership for the business to 1 |
|---|
| 81 | + | continue to operate in Vermont. 2 |
|---|
| 82 | + | (d) Creation of resource guide. In fiscal year 2026, in addition to any other 3 |
|---|
| 83 | + | funds appropriated to the Vermont Sustainable Jobs Fund Program, there is 4 |
|---|
| 84 | + | appropriated $100,000.00 from the General Fund to the Program for purpose of 5 |
|---|
| 85 | + | creating a definitive business resource guide directed towards small businesses. 6 |
|---|
| 86 | + | The funds shall support the creation of a magazine-style annual guide featuring 7 |
|---|
| 87 | + | profiles of Vermont business service organizations, an interactive website that 8 |
|---|
| 88 | + | serves as the digital home for the guide’s content, and an artificial intelligence 9 |
|---|
| 89 | + | platform that complements the website by including events, grants, programs, 10 |
|---|
| 90 | + | and educational content. The guide, website, and artificial intelligence 11 |
|---|
| 91 | + | platform supported by the appropriation made in this subsection shall be 12 |
|---|
| 92 | + | completed on or before December 1, 2026. 13 |
|---|
| 93 | + | (e) Microbusiness support. In fiscal year 2026, there is appropriated 14 |
|---|
| 94 | + | $581,000.00 from the General Fund to the Office of Economic Opportunity for 15 |
|---|
| 95 | + | the purpose of supporting the Vermont Community Action Partnership’s 16 |
|---|
| 96 | + | microbusiness development program. 17 |
|---|
| 97 | + | (f) Small business owner coaching services. In fiscal year 2026, there is 18 |
|---|
| 98 | + | appropriated $120,000.00 from the General Fund to the Vermont Small 19 |
|---|
| 99 | + | Business Development Center for the purpose of providing executive business 20 |
|---|
| 100 | + | skills training and coaching support to owners of small businesses with 20 or 21 BILL AS INTRODUCED S.122 |
|---|
| 101 | + | 2025 Page 5 of 15 |
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| 102 | + | |
|---|
| 103 | + | |
|---|
| 104 | + | VT LEG #381041 v.1 |
|---|
| 105 | + | fewer employees and that are at the growth stage of their business 1 |
|---|
| 106 | + | development. The Center shall contract with the Vermont Sustainable Jobs 2 |
|---|
| 107 | + | Fund Program and the Vermont Manufacturing Extension Center to deliver the 3 |
|---|
| 108 | + | skills training and coaching services over a 12-to-18-month period, with a 4 |
|---|
| 109 | + | defined scope of work developed in collaboration with each business owner 5 |
|---|
| 110 | + | served. The services shall include the following topics: 6 |
|---|
| 111 | + | (1) developing a sales and marketing strategy to the business’ access to 7 |
|---|
| 112 | + | markets; 8 |
|---|
| 113 | + | (2) improving business core operations; 9 |
|---|
| 114 | + | (3) conducting strategic planning; 10 |
|---|
| 115 | + | (4) supporting the training needs of the business management team; 11 |
|---|
| 116 | + | (5) supporting succession planning, if needed; and 12 |
|---|
| 117 | + | (6) providing other important development next steps to advance the 13 |
|---|
| 118 | + | business. 14 |
|---|
| 119 | + | Sec. 3. VERMONT ARTS COUNCIL; VERMONT FILM AND CREATIVE 15 |
|---|
| 120 | + | MEDIA INDUSTRY INITIATIVE 16 |
|---|
| 121 | + | (a) Base funding increase. In fiscal year 2026, there is appropriated the 17 |
|---|
| 122 | + | sum of $1,071,800.00 from the General Fund to the Vermont Arts Council, 18 |
|---|
| 123 | + | which includes an annual increase of $68,737.00. This increase would match 19 |
|---|
| 124 | + | the estimated federal contribution which is required in order to receive the 20 |
|---|
| 125 | + | entire amount from the federal government. 21 BILL AS INTRODUCED S.122 |
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| 126 | + | 2025 Page 6 of 15 |
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| 127 | + | |
|---|
| 128 | + | |
|---|
| 129 | + | VT LEG #381041 v.1 |
|---|
| 130 | + | (b) Building database. In fiscal year 2026, there is appropriated the sum of 1 |
|---|
| 131 | + | $120,000.00 from the General Fund to the Vermont Arts Council for the 2 |
|---|
| 132 | + | purpose of supporting the Vermont film and creative media industry initiative, 3 |
|---|
| 133 | + | which will build the basic industry structure needed to grow Vermont’s film 4 |
|---|
| 134 | + | and creative media sector. The funds shall be used to: 5 |
|---|
| 135 | + | (1) build and maintain an online database of film and creative media 6 |
|---|
| 136 | + | assets and opportunities; and 7 |
|---|
| 137 | + | (2) support a part-time staff position within the Vermont Arts Council to 8 |
|---|
| 138 | + | manage the database project set forth in subdivision (1) of this subsection and 9 |
|---|
| 139 | + | to serve as the point of contact for film industry professionals. 10 |
|---|
| 140 | + | Sec. 4. OUTDOOR RECREATION BUSINESSES; APPROPRIATION 11 |
|---|
| 141 | + | In fiscal year 2026, there is appropriated the sum of $250,000.00 from the 12 |
|---|
| 142 | + | General Fund to the Department of Forests, Parks and Recreation to support 13 |
|---|
| 143 | + | the Vermont Outdoor Business Alliance’s Climate and Circularity Outdoor 14 |
|---|
| 144 | + | Business Program, which provides sustainability and innovation technical 15 |
|---|
| 145 | + | assistance to Vermont’s outdoor sector for business planning and adaptations 16 |
|---|
| 146 | + | leading to stability in the face of climate change, the shift to a circular 17 |
|---|
| 147 | + | economy, and increased responsiveness to consumer behavior and outdoor 18 |
|---|
| 148 | + | visitation trends. Funds appropriated shall be used for: 19 |
|---|
| 149 | + | (1) providing technical assistance to outdoor businesses; 20 |
|---|
| 150 | + | (2) managing small group workshops and one-on-one consultations; and 21 BILL AS INTRODUCED S.122 |
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| 151 | + | 2025 Page 7 of 15 |
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| 152 | + | |
|---|
| 153 | + | |
|---|
| 154 | + | VT LEG #381041 v.1 |
|---|
| 155 | + | (3) coordinating industry events that will assist businesses on financial 1 |
|---|
| 156 | + | planning and appropriate adaptations. 2 |
|---|
| 157 | + | Sec. 5. INTERNATIONAL TRADE OFFICE; APPROPRIATION 3 |
|---|
| 158 | + | In fiscal year 2026, there is appropriated the sum of $350,000.00 from the 4 |
|---|
| 159 | + | General Fund to the Department of Economic Development for the purpose of 5 |
|---|
| 160 | + | supporting the International Trade Division’s initiatives to: 6 |
|---|
| 161 | + | (1) hire international recruitment consultants to focus more on 7 |
|---|
| 162 | + | international markets; 8 |
|---|
| 163 | + | (2) develop and deploy advanced site selection data and mapping tools 9 |
|---|
| 164 | + | to assist potential investors; 10 |
|---|
| 165 | + | (3) expand Vermont’s presence at national and international trade 11 |
|---|
| 166 | + | shows; and 12 |
|---|
| 167 | + | (4) sponsor events and initiatives that align with Vermont’s economic 13 |
|---|
| 168 | + | development goals. 14 |
|---|
| 169 | + | Sec. 6. 9 V.S.A. chapter 111B is added to read: 15 |
|---|
| 170 | + | CHAPTER 111B. TRADE COMMISSIONS 16 |
|---|
| 171 | + | § 4129. VERMONT-IRELAND TRADE COMMISSION 17 |
|---|
| 172 | + | (a) The Vermont-Ireland Trade Commission is established within the State 18 |
|---|
| 173 | + | Treasurer’s office to advance bilateral trade and investment between Vermont 19 |
|---|
| 174 | + | and Ireland. The Commission shall consist of 10 members as follows: 20 |
|---|
| 175 | + | (1) three members, appointed by the Governor; 21 BILL AS INTRODUCED S.122 |
|---|
| 176 | + | 2025 Page 8 of 15 |
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| 177 | + | |
|---|
| 178 | + | |
|---|
| 179 | + | VT LEG #381041 v.1 |
|---|
| 180 | + | (2) three members, appointed by the Speaker of the House; 1 |
|---|
| 181 | + | (3) three members, appointed by the Senate Committee on Committees; 2 |
|---|
| 182 | + | and 3 |
|---|
| 183 | + | (4) the State Treasurer or designee. 4 |
|---|
| 184 | + | (b) The purposes of the Vermont-Ireland Trade Commission are to: 5 |
|---|
| 185 | + | (1) advance bilateral trade and investment between Vermont and 6 |
|---|
| 186 | + | Ireland; 7 |
|---|
| 187 | + | (2) initiate joint action on policy issues of mutual interest to Vermont 8 |
|---|
| 188 | + | and Ireland; 9 |
|---|
| 189 | + | (3) promote business and academic exchanges between Vermont and 10 |
|---|
| 190 | + | Ireland; 11 |
|---|
| 191 | + | (4) encourage mutual economic support between Vermont and Ireland; 12 |
|---|
| 192 | + | (5) encourage mutual investment in the infrastructure of Vermont and 13 |
|---|
| 193 | + | Ireland; and 14 |
|---|
| 194 | + | (6) address other issues as determined by the Commission. 15 |
|---|
| 195 | + | (c) The members of the Commission, except for the State Treasurer or 16 |
|---|
| 196 | + | designee, shall be appointed for terms of four years each and shall continue to 17 |
|---|
| 197 | + | serve until their successors are appointed, except that in order to achieve 18 |
|---|
| 198 | + | staggered terms, the three members appointed by the Governor shall serve 19 |
|---|
| 199 | + | initial terms of two years each and the three members appointed by the Speaker 20 |
|---|
| 200 | + | of the House shall serve initial terms of three years each. Members may be 21 BILL AS INTRODUCED S.122 |
|---|
| 201 | + | 2025 Page 9 of 15 |
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| 202 | + | |
|---|
| 203 | + | |
|---|
| 204 | + | VT LEG #381041 v.1 |
|---|
| 205 | + | reappointed. A member serves at the pleasure of the member’s appointing 1 |
|---|
| 206 | + | authority. 2 |
|---|
| 207 | + | (d) A vacancy in the membership of the Commission shall be filled by the 3 |
|---|
| 208 | + | relevant appointing authority within 90 days after the vacancy. 4 |
|---|
| 209 | + | (e) The Commission shall select a chair from among its members at the 5 |
|---|
| 210 | + | first meeting. The Chair, as appropriate, may appoint from among the 6 |
|---|
| 211 | + | Commission members subcommittees or a subcommittee at the Chair’s 7 |
|---|
| 212 | + | discretion. A majority of the members of the Commission shall constitute a 8 |
|---|
| 213 | + | quorum for purposes of transacting the business of the Commission. 9 |
|---|
| 214 | + | (f) The Commission shall submit a written report with its findings, results, 10 |
|---|
| 215 | + | and recommendations to the Governor and the General Assembly within one 11 |
|---|
| 216 | + | year of its initial organizational meeting and on or before December 1 of each 12 |
|---|
| 217 | + | succeeding year for the activities of the current calendar year. The report shall 13 |
|---|
| 218 | + | also include a disclosure listing any in-kind contributions received by specific 14 |
|---|
| 219 | + | members of the Commission through their work in the Commission in the 15 |
|---|
| 220 | + | current calendar year. 16 |
|---|
| 221 | + | (g) The Vermont-Ireland Trade Commission is authorized to raise funds, 17 |
|---|
| 222 | + | through direct solicitation or other fundraising events, alone or with other 18 |
|---|
| 223 | + | groups, and accept donations, grants, and bequests from individuals, 19 |
|---|
| 224 | + | corporations, foundations, governmental agencies, and public and private 20 |
|---|
| 225 | + | organizations and institutions, to defray the Commission’s administrative 21 BILL AS INTRODUCED S.122 |
|---|
| 226 | + | 2025 Page 10 of 15 |
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| 227 | + | |
|---|
| 228 | + | |
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| 229 | + | VT LEG #381041 v.1 |
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| 230 | + | expenses and to carry out its purposes as set forth in this chapter. The funds, 1 |
|---|
| 231 | + | donations, grants, or bequests received pursuant to this chapter shall be 2 |
|---|
| 232 | + | deposited in a bank account and allocated annually by the State Treasurer’s 3 |
|---|
| 233 | + | office to defray the Commission’s administrative expenses and carry out its 4 |
|---|
| 234 | + | purposes. Any monies so withdrawn shall not be used for any purpose other 5 |
|---|
| 235 | + | than the payment of expenses under this chapter. Interest earned shall remain 6 |
|---|
| 236 | + | in the bank account. 7 |
|---|
| 237 | + | (h)(1) For attendance at meetings during adjournment of the General 8 |
|---|
| 238 | + | Assembly, a legislative member of the Commission serving in the member’s 9 |
|---|
| 239 | + | capacity as a legislator shall be entitled to per diem compensation and 10 |
|---|
| 240 | + | reimbursement of expenses pursuant to 2 V.S.A. § 23 for not more than six 11 |
|---|
| 241 | + | meetings per calendar year. 12 |
|---|
| 242 | + | (2) Other members of the Commission shall be entitled to 13 |
|---|
| 243 | + | reimbursement of expenses as permitted under 32 V.S.A. § 1010 for not more 14 |
|---|
| 244 | + | than six meetings per calendar year. 15 |
|---|
| 245 | + | (3) Payments to members of the Commission authorized under this 16 |
|---|
| 246 | + | subsection shall be made from monies appropriated to the General Assembly. 17 |
|---|
| 247 | + | Sec. 7. INITIAL APPOINTMENT DEADLINE FOR VERMONT -IRELAND 18 |
|---|
| 248 | + | TRADE COMMISSION 19 |
|---|
| 249 | + | Initial appointments to the Vermont-Ireland Trade Commission shall be 20 |
|---|
| 250 | + | made not later than October 1, 2025. 21 BILL AS INTRODUCED S.122 |
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| 251 | + | 2025 Page 11 of 15 |
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| 252 | + | |
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| 253 | + | |
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| 254 | + | VT LEG #381041 v.1 |
|---|
| 255 | + | Sec. 8. REPEAL; VERMONT-IRELAND TRADE COMMISSION 1 |
|---|
| 256 | + | 9 V.S.A. § 4129 (Vermont-Ireland Trade Commission) as added by this act 2 |
|---|
| 257 | + | is repealed on June 30, 2030. 3 |
|---|
| 258 | + | Sec. 9. STUDY TO ADDRESS BUSINESS GROWTH AND 4 |
|---|
| 259 | + | ACCESSING CAPITAL; REPORT 5 |
|---|
| 260 | + | (a) Task. The Agency of Commerce and Community Development shall 6 |
|---|
| 261 | + | conduct a study to analyze the ways the State can better enable business 7 |
|---|
| 262 | + | growth and improve access to capital in Vermont. As a part of its study, the 8 |
|---|
| 263 | + | Agency shall: 9 |
|---|
| 264 | + | (1) solicit testimony from start-up and early-stage businesses that have 10 |
|---|
| 265 | + | struggled to raise capital; 11 |
|---|
| 266 | + | (2) identify additional mechanisms for the investor-lender community to 12 |
|---|
| 267 | + | connect and learn from each other; 13 |
|---|
| 268 | + | (3) evaluate the State’s role in accessing capital, including: 14 |
|---|
| 269 | + | (A) the investment environment in the New England region; 15 |
|---|
| 270 | + | (B) availability of tax credits to leverage private capital; and 16 |
|---|
| 271 | + | (C) ensuring support of the current Tech Hub designation; 17 |
|---|
| 272 | + | (4) identify ways to offer investor education to high net worth 18 |
|---|
| 273 | + | individuals interested in investing in Vermont businesses; and 19 |
|---|
| 274 | + | (5) evaluate any other related issues as determined by the Agency. 20 BILL AS INTRODUCED S.122 |
|---|
| 275 | + | 2025 Page 12 of 15 |
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| 276 | + | |
|---|
| 277 | + | |
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| 278 | + | VT LEG #381041 v.1 |
|---|
| 279 | + | (b) Report. On or before November 1, 2025, the Agency shall submit a 1 |
|---|
| 280 | + | written report to the House Committee on Commerce and Economic 2 |
|---|
| 281 | + | Development and the Senate Committee on Economic Development, Housing 3 |
|---|
| 282 | + | and General Affairs with its findings and any recommendations for legislative 4 |
|---|
| 283 | + | action based on the task set forth in subsection (a) of this section. 5 |
|---|
| 284 | + | Sec. 10. TASK FORCE TO EXPLORE DEVELOPMENT OF 6 |
|---|
| 285 | + | CONVENTION CENTER AND PERFORMANCE VENUE 7 |
|---|
| 286 | + | (a) Creation. There is created the Convention Center and Performance 8 |
|---|
| 287 | + | Venue Task Force to study the feasibility of constructing a convention center 9 |
|---|
| 288 | + | and performance venue in Vermont. 10 |
|---|
| 289 | + | (b) Membership. The Task Force shall be composed of the following 11 |
|---|
| 290 | + | members: 12 |
|---|
| 291 | + | (1) one current member of the House of Representatives, who shall be 13 |
|---|
| 292 | + | appointed by the Speaker of the House; 14 |
|---|
| 293 | + | (2) one current member of the Senate, who shall be appointed by the 15 |
|---|
| 294 | + | Committee on Committees; 16 |
|---|
| 295 | + | (3) the Secretary of Commerce and Community Development or 17 |
|---|
| 296 | + | designee; 18 |
|---|
| 297 | + | (4) the President of the Vermont Chamber of Commerce or designee; 19 |
|---|
| 298 | + | (5) the Chief Executive Officer of the Lake Champlain Chamber of 20 |
|---|
| 299 | + | Commerce or designee; and 21 BILL AS INTRODUCED S.122 |
|---|
| 300 | + | 2025 Page 13 of 15 |
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| 301 | + | |
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| 302 | + | |
|---|
| 303 | + | VT LEG #381041 v.1 |
|---|
| 304 | + | (6) the President of the Regional Development Corporations or 1 |
|---|
| 305 | + | designee. 2 |
|---|
| 306 | + | (c) Powers and duties. The Task Force, in reviewing the feasibility of 3 |
|---|
| 307 | + | constructing a convention center and performance venue in Vermont, shall: 4 |
|---|
| 308 | + | (1) determine the ability of the State to support the projects through 5 |
|---|
| 309 | + | appropriations, bonding, tax instruments, and other financial assistance; 6 |
|---|
| 310 | + | (2) identify infrastructure improvements needed for the projects, 7 |
|---|
| 311 | + | including water, sewer, transportation, lodging, and food; 8 |
|---|
| 312 | + | (3) consider management and operational options for ownership, 9 |
|---|
| 313 | + | maintenance, staffing, and related items for the projects; 10 |
|---|
| 314 | + | (4) research the attributes of convention centers and performance venues 11 |
|---|
| 315 | + | that have been recently and successfully developed in other states; and 12 |
|---|
| 316 | + | (5) evaluate the economic impact and anticipated return on investment 13 |
|---|
| 317 | + | of having a convention center and performance venue. 14 |
|---|
| 318 | + | (d) Assistance. The Task Force shall have the administrative, technical, 15 |
|---|
| 319 | + | and legal assistance of the Agency of Commerce and Community 16 |
|---|
| 320 | + | Development. 17 |
|---|
| 321 | + | (e) Reports. On or before November 1, 2025, the Task Force shall submit 18 |
|---|
| 322 | + | an interim report to the House Committee on Commerce and Economic 19 |
|---|
| 323 | + | Development and the Senate Committee on Economic Development, Housing 20 |
|---|
| 324 | + | and General Affairs with an update on its work pursuant to subsection (c) of 21 BILL AS INTRODUCED S.122 |
|---|
| 325 | + | 2025 Page 14 of 15 |
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| 326 | + | |
|---|
| 327 | + | |
|---|
| 328 | + | VT LEG #381041 v.1 |
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| 329 | + | this section. On or before November 1, 2026, the Task Force shall submit a 1 |
|---|
| 330 | + | final written report to the House Committee on Commerce and Economic 2 |
|---|
| 331 | + | Development and the Senate Committee on Economic Development, Housing 3 |
|---|
| 332 | + | and General Affairs with its findings and any recommendations for legislative 4 |
|---|
| 333 | + | action. 5 |
|---|
| 334 | + | (f) Meetings. 6 |
|---|
| 335 | + | (1) The Secretary of Commerce and Community Development shall call 7 |
|---|
| 336 | + | the first meeting of the Task Force to occur on or before July 15, 2025. 8 |
|---|
| 337 | + | (2) The Committee shall select a chair from among its members at the 9 |
|---|
| 338 | + | first meeting. 10 |
|---|
| 339 | + | (3) A majority of the membership shall constitute a quorum. 11 |
|---|
| 340 | + | (4) The Task Force shall cease to exist on December 1, 2026. 12 |
|---|
| 341 | + | (g) Compensation and reimbursement. 13 |
|---|
| 342 | + | (1) For attendance at meetings during adjournment of the General 14 |
|---|
| 343 | + | Assembly, a legislative member of the Task Force serving in the member’s 15 |
|---|
| 344 | + | capacity as a legislator shall be entitled to per diem compensation and 16 |
|---|
| 345 | + | reimbursement of expenses pursuant to 2 V.S.A. § 23 for not more than eight 17 |
|---|
| 346 | + | meetings. 18 |
|---|
| 347 | + | (2) Other members of the Task Force shall be entitled to reimbursement 19 |
|---|
| 348 | + | of expenses as permitted under 32 V.S.A. § 1010 for not more than eight 20 |
|---|
| 349 | + | meetings. 21 BILL AS INTRODUCED S.122 |
|---|
| 350 | + | 2025 Page 15 of 15 |
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| 351 | + | |
|---|
| 352 | + | |
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| 353 | + | VT LEG #381041 v.1 |
|---|
| 354 | + | (3) Payments to members of the Task Force authorized under this 1 |
|---|
| 355 | + | subsection shall be made from monies appropriated to The General Assembly. 2 |
|---|
| 356 | + | Sec. 11. EFFECTIVE DATE 3 |
|---|
| 357 | + | This act shall take effect on July 1, 2025. 4 |
|---|