BILLASINTRODUCEDANDPASSEDBYSENATE S.122
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S.122
IntroducedbyCommitteeonEconomicDevelopment,HousingandGeneral
Affairs
Date:March18,2025
Subject:Conservationanddevelopment;economicandworkforce
development;smallbusiness
Statementofpurposeofbillasintroduced:Thisbillproposestoprovide
supporttoexistingeconomicandworkforcedevelopmentprogramstohelp
smallbusinessesgrowinVermont.
Anactrelatingtoeconomicandworkforcedevelopment
ItisherebyenactedbytheGeneralAssemblyoftheStateofVermont:
Sec.1.32V.S.A.chapter151,subchapter11Jisamendedtoread:
Subchapter11J.VermontDowntownandVillageCenterTaxCreditProgram
***
§5930ee.LIMITATIONS
Beginninginfiscalyear2010andthereafter,theStateBoardmayawardtax
creditstoallqualifiedapplicantsunderthissubchapter,providedthat:
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(1)thetotalamountoftaxcreditsawardedannually,togetherwithsales
taxreallocatedundersection9819ofthistitle,doesnotexceed$3,000,000.00
$5,000,000.00;
(2)atotalannualallocationofnonotmorethan30percentofthesetax
creditsincombinationwithsalestaxreallocationmaybeawardedin
connectionwithalloftheprojectsinasinglemunicipality;
(3)façadetaxcreditsshallnotbeavailableforprojectsthatqualifyfor
thefederalrehabilitationtaxcredit;
(4)nocreditshallbeallowedunderthissubchapterforthecostof
acquiringanybuildingorinterestinabuilding;
(5)creditunderanyonesubsectionof5930ccofthissubchaptermay
notbeallocatedmoreoftenthanonceeverytwoyearswithrespecttothesame
building;and
(6)creditawardedundersection5930ccofthissubchapterthatis
rescindedorrecapturedbytheStateBoardshallbeavailablefortheState
Boardtoawardtoapplicantsinanysubsequentyear,inadditiontothetotal
amountoftaxcreditsauthorizedunderthissection.
***
Sec.2.EXPANDINGSERVICESFORSMALLBUSINESSES
(a)Expandinglegalservices.Infiscalyear2026,thereisappropriatedthe
sumof$300,000.00fromtheGeneralFundtotheDepartmentofEconomic
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DevelopmentforthepurposeofsupportingtheVermontLawandGraduate
School’spubliceducationofferingsandfreelegalsupporttosmallbusinesses
throughitsVermontSmallBusinessLawCenter,whichinclude:
(1)individualandgroupeducationaltrainingsandconsultations;
(2)anongoingwebinarseriesonlegalbasicsforstartups;and
(3)anattorneyreferralprogram.
(b)Professionalsofcolornetwork.Infiscalyear2026,thereis
appropriatedthesumof$350,000.00fromtheGeneralFundtotheDepartment
ofEconomicDevelopmentforthepurposeofcontinuingthesupportofthe
VermontProfessionalsofColorNetworkinitscriticalworkforceandbusiness
developmentservicesitprovidestoBIPOCbusinesscommunitiesandto
supporttheexpansionofitsbusinesstechnicalassistanceservices,which
includeseducationonbasicbusinesspractices,resourcenavigation,and
networkingsupporttoBIPOCsmallbusinessowners.
(c)Businessadvising.Infiscalyear2026,thereisappropriatedthesumof
$688,889.00fromtheGeneralFundtotheVermontSmallBusiness
DevelopmentCenterforthepurposeofsupportingthecontinuationofitswork
inhelpingVermontersstart,acquire,andgrowbusinesses.Thefundsshall
alsobeusedtoincreasebusinessadvisingandeducationalworkshopstomeet
increasingdemandsofentrepreneursandsmallbusinessownerspost
pandemic.Thisincreaseof$300,000.00fromtheGovernor’ssuggested
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21 BILLASINTRODUCEDANDPASSEDBYSENATE S.122
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budgetwillallowtheCentertoserveanadditional200Vermontentrepreneurs
andbusinessownersthroughno-fee,one-to-oneadvisingtohelpthemstart
businesses,addandretainjobs,increasesales,exportproducts,andprepare
theirownershipsuccessionplantotransferownershipforthebusinessto
continuetooperateinVermont.
(d)Creationofresourceguide.Infiscalyear2026,inadditiontoanyother
fundsappropriatedtotheVermontSustainableJobsFundProgram,thereis
appropriated$100,000.00fromtheGeneralFundtotheProgramforpurpose
ofcreatingadefinitivebusinessresourceguidedirectedtowardssmall
businesses.Thefundsshallsupportthecreationofamagazine-styleannual
guidefeaturingprofilesofVermontbusinessserviceorganizations,an
interactivewebsitethatservesasthedigitalhomefortheguide’scontent,and
anartificialintelligenceplatformthatcomplementsthewebsitebyincluding
events,grants,programs,andeducationalcontent.Theguide,website,and
artificialintelligenceplatformsupportedbytheappropriationmadeinthis
subsectionshallbecompletedonorbeforeDecember1,2026.
(e)Microbusinesssupport.Infiscalyear2026,thereisappropriated
$581,000.00fromtheGeneralFundtotheOfficeofEconomicOpportunityfor
thepurposeofsupportingtheVermontCommunityActionPartnership’s
microbusinessdevelopmentprogram.
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20 BILLASINTRODUCEDANDPASSEDBYSENATE S.122
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(f)Smallbusinessownercoachingservices.Infiscalyear2026,thereis
appropriated$120,000.00fromtheGeneralFundtotheVermontSmall
BusinessDevelopmentCenterforthepurposeofprovidingexecutivebusiness
skillstrainingandcoachingsupporttoownersofsmallbusinesseswith20or
feweremployeesandthatareatthegrowthstageoftheirbusiness
development.TheCentershallcontractwiththeVermontSustainableJobs
FundProgramandtheVermontManufacturingExtensionCentertodeliverthe
skillstrainingandcoachingservicesovera12-to-18-monthperiod,witha
definedscopeofworkdevelopedincollaborationwitheachbusinessowner
served.Theservicesshallincludethefollowingtopics:
(1)developingasalesandmarketingstrategytothebusiness’accessto
markets;
(2)improvingbusinesscoreoperations;
(3)conductingstrategicplanning;
(4)supportingthetrainingneedsofthebusinessmanagementteam;
(5)supportingsuccessionplanning,ifneeded;and
(6)providingotherimportantdevelopmentnextstepstoadvancethe
business.
Sec.3.VERMONTARTSCOUNCIL;VERMONTFILMANDCREATIVE
MEDIAINDUSTRYINITIATIVE
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20 BILLASINTRODUCEDANDPASSEDBYSENATE S.122
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(a)Basefundingincrease.Infiscalyear2026,thereisappropriatedthe
sumof$1,071,800.00fromtheGeneralFundtotheVermontArtsCouncil,
whichincludesanannualincreaseof$68,737.00.Thisincreasewouldmatch
theestimatedfederalcontributionwhichisrequiredinordertoreceivethe
entireamountfromthefederalgovernment.
(b)Buildingdatabase.Infiscalyear2026,thereisappropriatedthesumof
$120,000.00fromtheGeneralFundtotheVermontArtsCouncilforthe
purposeofsupportingtheVermontfilmandcreativemediaindustryinitiative,
whichwillbuildthebasicindustrystructureneededtogrowVermont’sfilm
andcreativemediasectorforthepurposeofsupportingandgrowingthe
Vermontfilmandcreativemediacommunityandindustry,includingacademic,
educational,creative,commercial,andexhibitionresources.Thefundsshall
beusedto:
(1)buildandmaintainanonlinedatabaseoffilmandcreativemedia
assetsandopportunities;and
(1)buildandmaintainanonlinedatabaseoffilmandcreativemedia
thatincludesassets,opportunities,professionals,resources,andevents;and
(2)supportapart-timestaffpositionwithintheVermontArtsCouncilto
managethedatabaseprojectsetforthinsubdivision(1)ofthissubsectionand
toserveasthepointofcontactforfilmindustryprofessionals.
(2)supportapart-timestaffpositionwithintheVermontArtsCouncilto
managethedatabaseprojectsetforthinsubdivision(1)ofthissubsectionand
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toserveasthepointofcontactforfilmandcreativemediacreators,
exhibitioners,andindustryprofessionals.
Sec.4.OUTDOORRECREATIONBUSINESSES;APPROPRIATION
Infiscalyear2026,thereisappropriatedthesumof$250,000.00fromthe
GeneralFundtotheDepartmentofForests,ParksandRecreationtosupport
theVermontOutdoorBusinessAlliance’sClimateandCircularityOutdoor
BusinessProgram,whichprovidessustainabilityandinnovationtechnical
assistancetoVermont’soutdoorsectorforbusinessplanningandadaptations
leadingtostabilityinthefaceofclimatechange,theshifttoacircular
economy,andincreasedresponsivenesstoconsumerbehaviorandoutdoor
visitationtrends.Fundsappropriatedshallbeusedfor:
(1)providingtechnicalassistancetooutdoorbusinesses;
(2)managingsmallgroupworkshopsandone-on-oneconsultations;and
(3)coordinatingindustryeventsthatwillassistbusinessesonfinancial
planningandappropriateadaptations.
Sec.5.INTERNATIONALTRADEOFFICE;APPROPRIATION
Infiscalyear2026,thereisappropriatedthesumof$350,000.00fromthe
GeneralFundtotheDepartmentofEconomicDevelopmentforthepurposeof
supportingtheInternationalTradeDivision’sinitiativesto:
(1)hireinternationalrecruitmentconsultantstofocusmoreon
internationalmarkets;
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(2)developanddeployadvancedsiteselectiondataandmappingtools
toassistpotentialinvestors;
(3)expandVermont’spresenceatnationalandinternationaltrade
shows;and
(4)sponsoreventsandinitiativesthatalignwithVermont’seconomic
developmentgoals.
Sec.6.9V.S.A.chapter111Bisaddedtoread:
CHAPTER111B.TRADECOMMISSIONS
§ 4129.VERMONT-IRELANDTRADECOMMISSION
(a)TheVermont-IrelandTradeCommissionisestablishedwithintheState
Treasurer’sofficetoadvancebilateraltradeandinvestmentbetweenVermont
andIreland.TheCommissionshallconsistof10membersasfollows:
(1)threemembers,appointedbytheGovernor;
(2)threemembers,appointedbytheSpeakeroftheHouse;
(3)threemembers,appointedbytheSenateCommitteeonCommittees;
and
(4)theStateTreasurerordesignee.
(a)TheVermont-IrelandTradeCommissionisestablishedwithintheState
Treasurer’sofficetoadvancebilateraltradeandinvestmentbetweenVermont
andIreland.TheCommissionshallconsistofsevenmembersasfollows:
(1)twomembers,appointedbytheGovernor;
(2)twomembers,appointedbytheSpeakeroftheHouse;
(3)twomembers,appointedbytheSenateCommitteeonCommittees;
and
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(4)theStateTreasurerordesignee.
(b)ThepurposesoftheVermont-IrelandTradeCommissionareto:
(1)advancebilateraltradeandinvestmentbetweenVermontand
Ireland;
(2)initiatejointactiononpolicyissuesofmutualinteresttoVermont
andIreland;
(3)promotebusinessandacademicexchangesbetweenVermontand
Ireland;
(4)encouragemutualeconomicsupportbetweenVermontandIreland;
(5)encouragemutualinvestmentintheinfrastructureofVermontand
Ireland;and
(6)addressotherissuesasdeterminedbytheCommission.
(c)ThemembersoftheCommission,exceptfortheStateTreasureror
designee,shallbeappointedfortermsoffouryearseachandshallcontinueto
serveuntiltheirsuccessorsareappointed,exceptthatinordertoachieve
staggeredterms,thethreemembersappointedbytheGovernorshallserve
initialtermsoftwoyearseachandthethreemembersappointedbythe
SpeakeroftheHouseshallserveinitialtermsofthreeyearseach.Members
maybereappointed.Amemberservesatthepleasureofthemember’s
appointingauthority.
(c)ThemembersoftheCommission,exceptfortheStateTreasureror
designee,shallbeappointedfortermsoffouryearseachandshallcontinueto
serveuntiltheirsuccessorsareappointed,exceptthatinordertoachieve
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staggeredterms,thetwomembersappointedbytheGovernorshallserve
initialtermsoftwoyearseachandthetwomembersappointedbytheSpeaker
oftheHouseshallserveinitialtermsoftwoyearseach.Membersmaybe
reappointed.Amemberservesatthepleasureofthemember’sappointing
authority.NotmorethantwomembersservingontheCommissionmaybe
membersoftheGeneralAssembly.
(d)AvacancyinthemembershipoftheCommissionshallbefilledbythe
relevantappointingauthoritywithin90daysafterthevacancy.
(e)TheCommissionshallselectachairfromamongitsmembersatthe
firstmeeting.TheChair,asappropriate,mayappointfromamongthe
CommissionmemberssubcommitteesorasubcommitteeattheChair’s
discretion.AmajorityofthemembersoftheCommissionshallconstitutea
quorumforpurposesoftransactingthebusinessoftheCommission.
(f)TheCommissionshallsubmitawrittenreportwithitsfindings,results,
andrecommendationstotheGovernorandtheGeneralAssemblywithinone
yearofitsinitialorganizationalmeetingandonorbeforeDecember1ofeach
succeedingyearfortheactivitiesofthecurrentcalendaryear.Thereportshall
alsoincludeadisclosurelistinganyin-kindcontributionsreceivedbyspecific
membersoftheCommissionthroughtheirworkintheCommissioninthe
currentcalendaryear.
(g)TheVermont-IrelandTradeCommissionisauthorizedtoraisefunds,
throughdirectsolicitationorotherfundraisingevents,aloneorwithother
groups,andacceptdonations,grants,andbequestsfromindividuals,
corporations,foundations,governmentalagencies,andpublicandprivate
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organizationsandinstitutions,todefraytheCommission’sadministrative
expensesandtocarryoutitspurposesassetforthinthischapter.Thefunds,
donations,grants,orbequestsreceivedpursuanttothischaptershallbe
depositedinabankaccountandallocatedannuallybytheStateTreasurer’s
officetodefraytheCommission’sadministrativeexpensesandcarryoutits
purposes.Anymoniessowithdrawnshallnotbeusedforanypurposeother
thanthepaymentofexpensesunderthischapter.Interestearnedshallremain
inthebankaccount.
(h)(1)ForattendanceatmeetingsduringadjournmentoftheGeneral
Assembly,alegislativememberoftheCommissionservinginthemember’s
capacityasalegislatorshallbeentitledtoperdiemcompensationand
reimbursementofexpensespursuantto2 V.S.A.§ 23fornotmorethansix
meetingspercalendaryear.
(2)OthermembersoftheCommissionshallbeentitledto
reimbursementofexpensesaspermittedunder32 V.S.A.§ 1010fornotmore
thansixmeetingspercalendaryear.
(3)PaymentstomembersoftheCommissionauthorizedunderthis
subsectionshallbemadefrommoniesappropriatedtotheGeneralAssembly.
Sec.7.INITIALAPPOINTMENTDEADLINEFORVERMONT-IRELAND
TRADECOMMISSION
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InitialappointmentstotheVermont-IrelandTradeCommissionshallbe
madenotlaterthanOctober1,2025.
Sec.8.REPEAL;VERMONT-IRELANDTRADECOMMISSION
9V.S.A.§4129(Vermont-IrelandTradeCommission)asaddedbythisact
isrepealedonJune30,2030.
Sec.9.STUDYTOADDRESSBUSINESSGROWTHAND
ACCESSINGCAPITAL;REPORT
(a)Task.TheAgencyofCommerceandCommunityDevelopmentshall
conductastudytoanalyzethewaystheStatecanbetterenablebusiness
growthandimproveaccesstocapitalinVermont.Asapartofitsstudy,the
Agencyshall:
(1)solicittestimonyfromstart-upandearly-stagebusinessesthathave
struggledtoraisecapital;
(2)identifyadditionalmechanismsfortheinvestor-lendercommunityto
connectandlearnfromeachother;
(3)evaluatetheState’sroleinaccessingcapital,including:
(A)theinvestmentenvironmentintheNewEnglandregion;
(B)availabilityoftaxcreditstoleverageprivatecapital;and
(C)ensuringsupportofthecurrentTechHubdesignation;
(4)identifywaystoofferinvestoreducationtohighnetworth
individualsinterestedininvestinginVermontbusinesses;and
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(5)evaluateanyotherrelatedissuesasdeterminedbytheAgency.
(b)Report.OnorbeforeNovember1,2025,theAgencyshallsubmita
writtenreporttotheHouseCommitteeonCommerceandEconomic
DevelopmentandtheSenateCommitteeonEconomicDevelopment,Housing
andGeneralAffairswithitsfindingsandanyrecommendationsforlegislative
actionbasedonthetasksetforthinsubsection(a)ofthissection.
Sec.10.TASKFORCETOEXPLOREDEVELOPMENT OF
CONVENTIONCENTERANDPERFORMANCE VENUE
(a)Creation.ThereiscreatedtheConventionCenterandPerformance
VenueTaskForcetostudythefeasibilityofconstructingaconventioncenter
andperformancevenueinVermont.
(b)Membership.TheTaskForceshallbecomposedofthefollowing
members:
(1)onecurrentmemberoftheHouseofRepresentatives,whoshallbe
appointedbytheSpeakeroftheHouse;
(2)onecurrentmemberoftheSenate,whoshallbeappointedbythe
CommitteeonCommittees;
(3)theSecretaryofCommerceandCommunityDevelopmentor
designee;
(4)thePresidentoftheVermontChamberofCommerceordesignee;
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(5)theChiefExecutiveOfficeroftheLakeChamplainChamberof
Commerceordesignee;and
(6)thePresidentoftheRegionalDevelopmentCorporationsor
designee.
(c)Powersandduties.TheTaskForce,inreviewingthefeasibilityof
constructingaconventioncenterandperformancevenueinVermont,shall:
(1)determinetheabilityoftheStatetosupporttheprojectsthrough
appropriations,bonding,taxinstruments,andotherfinancialassistance;
(2)identifyinfrastructureimprovementsneededfortheprojects,
includingwater,sewer,transportation,lodging,andfood;
(3)considermanagementandoperationaloptionsforownership,
maintenance,staffing,andrelateditemsfortheprojects;
(4)researchtheattributesofconventioncentersandperformancevenues
thathavebeenrecentlyandsuccessfullydevelopedinotherstates;and
(5)evaluatetheeconomicimpactandanticipatedreturnoninvestment
ofhavingaconventioncenterandperformancevenue.
(d)Assistance.TheTaskForceshallhavetheadministrative,technical,
andlegalassistanceoftheAgencyofCommerceandCommunity
Development.
(e)Reports.OnorbeforeNovember1,2025,theTaskForceshallsubmit
aninterimreporttotheHouseCommitteeonCommerceandEconomic
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DevelopmentandtheSenateCommitteeonEconomicDevelopment,Housing
andGeneralAffairswithanupdateonitsworkpursuanttosubsection(c)of
thissection.OnorbeforeNovember1,2026,theTaskForceshallsubmita
finalwrittenreporttotheHouseCommitteeonCommerceandEconomic
DevelopmentandtheSenateCommitteeonEconomicDevelopment,Housing
andGeneralAffairswithitsfindingsandanyrecommendationsforlegislative
action.
(f)Meetings.
(1)TheSecretaryofCommerceandCommunityDevelopmentshallcall
thefirstmeetingoftheTaskForcetooccuronorbeforeJuly15,2025.
(2)TheCommitteeshallselectachairfromamongitsmembersatthe
firstmeeting.
(3)Amajorityofthemembershipshallconstituteaquorum.
(4)TheTaskForceshallceasetoexistonDecember1,2026.
(g)Compensationandreimbursement.
(1)ForattendanceatmeetingsduringadjournmentoftheGeneral
Assembly,alegislativememberoftheTaskForceservinginthemember’s
capacityasalegislatorshallbeentitledtoperdiemcompensationand
reimbursementofexpensespursuantto2 V.S.A.§ 23fornotmorethaneight
meetings.
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(2)OthermembersoftheTaskForceshallbeentitledtoreimbursement
ofexpensesaspermittedunder32 V.S.A.§ 1010fornotmorethaneight
meetings.
(3)PaymentstomembersoftheTaskForceauthorizedunderthis
subsectionshallbemadefrommoniesappropriatedtoTheGeneralAssembly.
Sec.10a.CONTINGENCYONFUNDING
ThedutytoimplementSecs.1–5ofthisactiscontingentuponan
appropriationinfiscalyear2026fromtheGeneralFundforthespecific
purposesdescribedinthisact.
Sec.10b.3V.S.A.§ 23isamendedtoread:
§23.THECOMMISSIONONINTERNATIONALTRADE
(a)Definitions.Forthepurposesofthissection:“InternationalTrade
Agreement”meansatradeagreementbetweenthefederalgovernmentanda
foreigncountryorbetweenVermontandaforeigncountry.InternationalTrade
AgreementdoesnotincludeatradeagreementbetweentheStateandaforeign
countrytowhichthefederalgovernmentisnotaparty.
***
(c)Powersandduties.
(1)TheCommissionshallconductanannualassessmentofthelegal
andeconomicimpactsofInternationalTradeAgreementsonStateandlocal
laws,Statesovereignty,andthebusinessenvironment.
(2)Itshallprovideamechanismforcitizensandlegislatorstovoice
theirconcerns,whichitshallusetomakepolicyrecommendationstothe
GeneralAssembly,totheGovernor,toVermont’scongressionaldelegation,or
tothetraderepresentativesoftheUnitedStatesgovernment.Recommendations
shallbedesignedtoprotectVermont’sjobandbusinessenvironment,andState
sovereigntyfromanynegativeimpactsoftradeagreements.
(3)Itmayrecommendlegislationorpreferredpracticesandshallwork
withinterestedgroupsinotherstatestodevelopmeanstoresolvethe
conflictinggoalsandtensioninherentintherelationshipbetweeninternational
tradeandStatesovereignty.
(4)Asprovidedforin9V.S.A.chapter111A,theCommissionshall
consideranddevelopformalrecommendationswithrespecttohowtheState
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shouldbestrespondtochallengesandopportunitiesposedbyaparticular
InternationalAgreement.
(5)TheCommissionshallbeconsultedwhenatradecommission
pursuantto9V.S.A.chapter 111BisproposedtobeestablishedbytheGeneral
Assemblyandshallprovidearecommendationastowhetherthetrade
commissionshallbeestablished.
***
Sec.11.EFFECTIVEDATE
ThisactshalltakeeffectonJuly1,2025.
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