Vermont 2025-2026 Regular Session Status: Enacted

S 122 — An act relating to economic and workforce development

Last action — Senate Message: Signed by Governor June 12, 2025

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed House
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced March 18, 2025. Enacted.

Signed by Governor Phil Scott (Republican) on June 13, 2025.

Prognosis

Advancing 50% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

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Bill Text

What changed in the latest version

390 added · 348 removed

Plain-language change summary

The revised version of Bill S.122 increases the total annual cap on tax credits and reallocated sales tax from $3 million to $5 million. This change is significant because it allows for more financial support for projects, potentially stimulating economic development in communities. Additionally, the bill maintains the limit of not more than 30 percent of these credits going to a single municipality, ensuring that the funds are distributed more evenly.

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AS PASSED BY SENATE S.122 Page 1 of 15 S.122 An act relating to economic and workforce development It is hereby enacted by the General Assembly of the State of Vermont:
BILL AS INTRODUCED AND PASSED BY SENATE S.122 Page 1 of 17 S.122 Introduced by Committee on Economic Development, Housing and General Affairs Date:
March 18, 2025 Subject:
Conservation and development;
economic and workforce development;
small business Statement of purpose of bill as introduced:
This bill proposes to provide support to existing economic and workforce development programs to help small businesses grow in Vermont.
An act relating to economic and workforce development It is hereby enacted by the General Assembly of the State of Vermont:
(1) the total amount of tax credits awarded annually, together with sales tax reallocated under section 9819 of this title, does not exceed $3,000,000.00 $5,000,000.00;
BILL AS INTRODUCED AND PASSED BY SENATE S.122 Page 2 of 17 (1) the total amount of tax credits awarded annually, together with sales tax reallocated under section 9819 of this title, does not exceed $3,000,000.00 $5,000,000.00;
VT LEG #382200 v.1 AS PASSED BY SENATE S.122 Page 2 of 15 (5) credit under any one subsection of 5930cc of this subchapter may not be allocated more often than once every two years with respect to the same building;
(5) credit under any one subsection of 5930cc of this subchapter may not be allocated more often than once every two years with respect to the same building;
In fiscal year 2026, there is appropriated the sum of $300,000.00 from the General Fund to the Department of Economic Development for the purpose of supporting the Vermont Law and Graduate School’s public education offerings and free legal support to small businesses through its Vermont Small Business Law Center, which include:
In fiscal year 2026, there is appropriated the sum of $300,000.00 from the General Fund to the Department of Economic BILL AS INTRODUCED AND PASSED BY SENATE S.122 Page 3 of 17 Development for the purpose of supporting the Vermont Law and Graduate School’s public education offerings and free legal support to small businesses through its Vermont Small Business Law Center, which include:
In fiscal year 2026, there is appropriated the sum of $350,000.00 from the General Fund to the Department of Economic Development for the purpose of continuing the support of the Vermont Professionals of Color Network in its critical workforce and business VT LEG #382200 v.1 AS PASSED BY SENATE S.122 Page 3 of 15 development services it provides to BIPOC business communities and to support the expansion of its business technical assistance services, which includes education on basic business practices, resource navigation, and networking support to BIPOC small business owners.
In fiscal year 2026, there is appropriated the sum of $350,000.00 from the General Fund to the Department of Economic Development for the purpose of continuing the support of the Vermont Professionals of Color Network in its critical workforce and business development services it provides to BIPOC business communities and to support the expansion of its business technical assistance services, which includes education on basic business practices, resource navigation, and networking support to BIPOC small business owners.
This increase of $300,000.00 from the Governor’s suggested budget will allow the Center to serve an additional 200 Vermont entrepreneurs and business owners through no-fee, one-to-one advising to help them start businesses, add and retain jobs, increase sales, export products, and prepare their ownership succession plan to transfer ownership for the business to continue to operate in Vermont.
This increase of $300,000.00 from the Governor’s suggested BILL AS INTRODUCED AND PASSED BY SENATE S.122 Page 4 of 17 budget will allow the Center to serve an additional 200 Vermont entrepreneurs and business owners through no-fee, one-to-one advising to help them start businesses, add and retain jobs, increase sales, export products, and prepare their ownership succession plan to transfer ownership for the business to continue to operate in Vermont.
The funds shall support the creation of a magazine-style annual guide featuring VT LEG #382200 v.1 AS PASSED BY SENATE S.122 Page 4 of 15 profiles of Vermont business service organizations, an interactive website that serves as the digital home for the guide’s content, and an artificial intelligence platform that complements the website by including events, grants, programs, and educational content.
The funds shall support the creation of a magazine-style annual guide featuring profiles of Vermont business service organizations, an interactive website that serves as the digital home for the guide’s content, and an artificial intelligence platform that complements the website by including events, grants, programs, and educational content.
(f) Small business owner coaching services.
BILL AS INTRODUCED AND PASSED BY SENATE S.122 Page 5 of 17 (f) Small business owner coaching services.
VT LEG #382200 v.1 AS PASSED BY SENATE S.122 Page 5 of 15 (1) developing a sales and marketing strategy to the business’ access to markets;
(1) developing a sales and marketing strategy to the business’ access to markets;
VERMONT FILM AND CREATIVE MEDIA INDUSTRY INITIATIVE (a) Base funding increase.
VERMONT FILM AND CREATIVE MEDIA INDUSTRY INITIATIVE BILL AS INTRODUCED AND PASSED BY SENATE S.122 Page 6 of 17 (a) Base funding increase.
In fiscal year 2026, there is appropriated the sum of $120,000.00 from the General Fund to the Vermont Arts Council for the purpose of supporting and growing the Vermont film and creative media community and industry, including academic, educational, creative, commercial, and exhibition resources.
In fiscal year 2026, there is appropriated the sum of $120,000.00 from the General Fund to the Vermont Arts Council for the purpose of supporting the Vermont film and creative media industry initiative, which will build the basic industry structure needed to grow Vermont’s film and creative media sectorfor the purpose of supporting and growing the Vermont film and creative media community and industry, including academic, educational, creative, commercial, and exhibition resources.
VT LEG #382200 v.1 AS PASSED BY SENATE S.122 Page 6 of 15 (1) build and maintain an online database of film and creative media that includes assets, opportunities, professionals, resources, and events;
(1) build and maintain an online database of film and creative media assets and opportunities;
and (2) support a part-time staff position within the Vermont Arts Council to manage the database project set forth in subdivision (1) of this subsection and to serve as the point of contact for film and creative media creators, exhibitioners, and industry professionals.
and (1) build and maintain an online database of film and creative media that includes assets, opportunities, professionals, resources, and events;
and (2) support a part-time staff position within the Vermont Arts Council to manage the database project set forth in subdivision (1) of this subsection and to serve as the point of contact for film industry professionals.
(2) support a part-time staff position within the Vermont Arts Council to manage the database project set forth in subdivision (1) of this subsection and BILL AS INTRODUCED AND PASSED BY SENATE S.122 Page 7 of 17 to serve as the point of contact for film and creative media creators, exhibitioners, and industry professionals.
VT LEG #382200 v.1 AS PASSED BY SENATE S.122 Page 7 of 15 Sec.
Sec.
(2) develop and deploy advanced site selection data and mapping tools to assist potential investors;
BILL AS INTRODUCED AND PASSED BY SENATE S.122 Page 8 of 17 (2) develop and deploy advanced site selection data and mapping tools to assist potential investors;
TRADE COMMISSIONS § 4129.
TRADE COMMISSIONS § 4129.
The Commission shall consist of 10 members as follows:
(1) three members, appointed by the Governor;
(2) three members, appointed by the Speaker of the House;
(3) three members, appointed by the Senate Committee on Committees;
and (4) the State Treasurer or designee.
(a) The Vermont-Ireland Trade Commission is established within the State Treasurer’s office to advance bilateral trade and investment between Vermont and Ireland.
VT LEG #382200 v.1 AS PASSED BY SENATE S.122 Page 8 of 15 (3) two members, appointed by the Senate Committee on Committees;
(3) two members, appointed by the Senate Committee on Committees;
and (4) the State Treasurer or designee.
and BILL AS INTRODUCED AND PASSED BY SENATE S.122 Page 9 of 17 (4) the State Treasurer or designee.
(c) The members of the Commission, except for the State Treasurer or designee, shall be appointed for terms of four years each and shall continue to serve until their successors are appointed, except that in order to achieve staggered terms, the two members appointed by the Governor shall serve initial terms of two years each and the two members appointed by the Speaker of the House shall serve initial terms of two years each.
(c) The members of the Commission, except for the State Treasurer or designee, shall be appointed for terms of four years each and shall continue to serve until their successors are appointed, except that in order to achieve staggered terms, the three members appointed by the Governor shall serve initial terms of two years each and the three members appointed by the Speaker of the House shall serve initial terms of three years each.
A member serves at the pleasure of the member’s appointing VT LEG #382200 v.1 AS PASSED BY SENATE S.122 Page 9 of 15 authority.
A member serves at the pleasure of the member’s appointing authority.
(c) The members of the Commission, except for the State Treasurer or designee, shall be appointed for terms of four years each and shall continue to serve until their successors are appointed, except that in order to achieve BILL AS INTRODUCED AND PASSED BY SENATE S.122 Page 10 of 17 staggered terms, the two members appointed by the Governor shall serve initial terms of two years each and the two members appointed by the Speaker of the House shall serve initial terms of two years each.
Members may be reappointed.
A member serves at the pleasure of the member’s appointing authority.
(g) The Vermont-Ireland Trade Commission is authorized to raise funds, through direct solicitation or other fundraising events, alone or with other groups, and accept donations, grants, and bequests from individuals, corporations, foundations, governmental agencies, and public and private organizations and institutions, to defray the Commission’s administrative VT LEG #382200 v.1 AS PASSED BY SENATE S.122 Page 10 of 15 expenses and to carry out its purposes as set forth in this chapter.
(g) The Vermont-Ireland Trade Commission is authorized to raise funds, through direct solicitation or other fundraising events, alone or with other groups, and accept donations, grants, and bequests from individuals, corporations, foundations, governmental agencies, and public and private BILL AS INTRODUCED AND PASSED BY SENATE S.122 Page 11 of 17 organizations and institutions, to defray the Commission’s administrative expenses and to carry out its purposes as set forth in this chapter.
(h)(1) For attendance at meetings during adjournment of the General Assembly, a legislative member of the Commission serving in the member’s capacity as a legislator shall be entitled to per diem compensation and reimbursement of expenses pursuant to 2 V.S.A.
§ 23 for not more than six meetings per calendar year.
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(2) Other members of the Commission shall be entitled to reimbursement of expenses as permitted under 32 V.S.A.
§ 1010 for not more than six meetings per calendar year.
(3) Payments to members of the Commission authorized under this subsection shall be made from monies appropriated to the General Assembly.
INITIAL APPOINTMENT DEADLINE FOR VERMONT-IRELAND TRADE COMMISSION Initial appointments to the Vermont-Ireland Trade Commission shall be made not later than October 1, 2025.
INITIAL APPOINTMENT DEADLINE FOR VERMONT-IRELAND TRADE COMMISSION BILL AS INTRODUCED AND PASSED BY SENATE S.122 Page 12 of 17 Initial appointments to the Vermont-Ireland Trade Commission shall be made not later than October 1, 2025.
VT LEG #382200 v.1 AS PASSED BY SENATE S.122 Page 11 of 15 (1) solicit testimony from start-up and early-stage businesses that have struggled to raise capital;
(1) solicit testimony from start-up and early-stage businesses that have struggled to raise capital;
and (5) evaluate any other related issues as determined by the Agency.
and BILL AS INTRODUCED AND PASSED BY SENATE S.122 Page 13 of 17 (5) evaluate any other related issues as determined by the Agency.
VT LEG #382200 v.1 AS PASSED BY SENATE S.122 Page 12 of 15 (b) Membership.
(b) Membership.
(5) the Chief Executive Officer of the Lake Champlain Chamber of Commerce or designee;
BILL AS INTRODUCED AND PASSED BY SENATE S.122 Page 14 of 17 (5) the Chief Executive Officer of the Lake Champlain Chamber of Commerce or designee;
VT LEG #382200 v.1 AS PASSED BY SENATE S.122 Page 13 of 15 (4) research the attributes of convention centers and performance venues that have been recently and successfully developed in other states;
(4) research the attributes of convention centers and performance venues that have been recently and successfully developed in other states;
On or before November 1, 2025, the Task Force shall submit an interim report to the House Committee on Commerce and Economic Development and the Senate Committee on Economic Development, Housing and General Affairs with an update on its work pursuant to subsection (c) of this section.
On or before November 1, 2025, the Task Force shall submit an interim report to the House Committee on Commerce and Economic BILL AS INTRODUCED AND PASSED BY SENATE S.122 Page 15 of 17 Development and the Senate Committee on Economic Development, Housing and General Affairs with an update on its work pursuant to subsection (c) of this section.
VT LEG #382200 v.1 AS PASSED BY SENATE S.122 Page 14 of 15 (3) A majority of the membership shall constitute a quorum.
(3) A majority of the membership shall constitute a quorum.
(g) Compensation and reimbursement.
(1) For attendance at meetings during adjournment of the General Assembly, a legislative member of the Task Force serving in the member’s capacity as a legislator shall be entitled to per diem compensation and reimbursement of expenses pursuant to 2 V.S.A.
§ 23 for not more than eight meetings.
BILL AS INTRODUCED AND PASSED BY SENATE S.122 Page 16 of 17 (2) Other members of the Task Force shall be entitled to reimbursement of expenses as permitted under 32 V.S.A.
§ 1010 for not more than eight meetings.
(3) Payments to members of the Task Force authorized under this subsection shall be made from monies appropriated to The General Assembly.
§ 23 is amended to read:
§ 23 is amended to read:
(2) It shall provide a mechanism for citizens and legislators to voice their concerns, which it shall use to make policy recommendations to the General Assembly, to the Governor, to Vermont’s congressional delegation, or VT LEG #382200 v.1 AS PASSED BY SENATE S.122 Page 15 of 15 to the trade representatives of the United States government.
(2) It shall provide a mechanism for citizens and legislators to voice their concerns, which it shall use to make policy recommendations to the General Assembly, to the Governor, to Vermont’s congressional delegation, or to the trade representatives of the United States government.
chapter 111A, the Commission shall consider and develop formal recommendations with respect to how the State should best respond to challenges and opportunities posed by a particular International Agreement.
chapter 111A, the Commission shall consider and develop formal recommendations with respect to how the State BILL AS INTRODUCED AND PASSED BY SENATE S.122 Page 17 of 17 should best respond to challenges and opportunities posed by a particular International Agreement.
chapter 111B is proposed to be established by the General Assembly and shall provide a recommendation as to whether the trade commission shall be established.
chapter 111B is proposed to be established by the General Assembly and shall provide a recommendation as to whether the trade commission shall be established.
VT LEG #382200 v.1
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Amendments

2 amendments

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Action History

  1. Senate Message: Signed by Governor June 12, 2025

  2. Signed by Governor on June 12, 2025

  3. Delivered to Governor on June 6, 2025

  4. As passed by Senate and House

  5. House message: House concurred in Senate proposal of amendment to House proposal of amendment

  6. Rules suspended and action on the bill messaged to the Senate forthwith and the bill delivered to the Governor forthwith as moved by Rep. McCoy of Poultney

  7. Senate proposal of amendment to House proposal of amendment concurred in

  8. Rules suspended and taken up for immediate consideration, pending entry on Notice Calendar, as moved by Rep. McCoy of Poultney

  9. Senate Message: House proposal of amendment concurred in with further proposal of amendment thereto

  10. Rules suspended & messaged to House forthwith, on motion of Senator Baruth

  11. House proposal of amendment concurred in with proposal of amendment, on motion of Senator Brock, Chittenden, and Weeks

  12. House proposal of amendment; text

  13. Rules suspended & taken up for immediate consideration, on motion of Senator Baruth

  14. House proposal of amendment

  15. Entered on Notice Calendar

  16. House message: House passed bill in concurrence with proposal(s) of amendment

  17. Rules suspended and bill messaged forthwith to the Senate as moved by Rep. McCoy of Poultney

  18. Read third time and passed in concurrence with proposal of amendment

  19. Rules suspended and bill placed in all remaining stages of passage as moved by Rep. McCoy of Poultney

  20. Third Reading ordered

  21. Report of Committee on Commerce and Economic Development, as amended, agreed to

  22. Report of the Committee on Commerce and Economic Development amended as recommended by the Committee on Appropriations

  23. Rep. Stevens of Waterbury recommended for the Committee on Appropriations

  24. Rep. Waszazak of Barre City recommended for the Committee on Ways and Means

  25. Rep. Duke of Burlington reported for the Committee on Commerce and Economic Development

  26. Read second time

  27. Rules suspended and taken up for immediate consideration as moved by Rep. McCoy of Poultney

  28. Notice Calendar: Favorable with Amendment

  29. Pending entry on Notice Calendar, referred to Committee on Appropriations per Rule 35(a)

  30. Referred to Committee on Ways and Means per Rule 35(a)

  31. Notice Calendar: Favorable with Amendment

  32. Read first time and referred to the Committee on Commerce and Economic Development

  33. Read 3rd time & passed

  34. Pending third reading, bill amended as moved by Senator(s) Hardy

  35. New Business/Third Reading

  36. 3rd reading ordered

  37. Recommendation of amendment agreed to as substituted

  38. Motion agreed to

  39. Senator(s) Perchlik motion to substitute amendment for Committee on Appropriations recommendation of amendment; text

  40. Reported favorably by Senator Perchlik for Committee on Appropriations with recommendation of amendment

  41. Reported favorably by Senator Brock for Committee on Finance

  42. Read 2nd time

  43. Favorable report with recommendation of amendment by Committee on Appropriations

  44. Favorable report by Committee on Finance

  45. Committee Bill for Second Reading

  46. New Business/Second Reading

  47. Favorable report with recommendation of amendment by Committee on Appropriations

  48. Favorable report by Committee on Finance

  49. Committee Bill for Second Reading

  50. Entered on Notice Calendar

  51. Referred to Committee on Appropriations per Senate Rule 31

  52. Favorable report by Committee on Finance

  53. Committee Bill for Second Reading

  54. Entered on Notice Calendar

  55. Referred to Committee on Finance per Senate Rule 31

  56. Rules suspended on motion of Senator Baruth

  57. Committee bill read first time & placed on Notice Calendar per Senate Rule 48

Sponsors

  • Housing and General Affairs Senate Committee on Economic Development · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 189 not signed on

Sponsors (1)

  • Senate Committee on Economic Development, Housing and General Affairs

Co-sponsors (0)

None.

Not signed on (189)

189 members have not signed on to this bill.

Show all 189 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Frequently asked questions

Who sponsors S 122?
S 122 is sponsored by Senate Committee on Economic Development, Housing and General Affairs.
What is the current status of S 122?
This bill has been enacted into law. Introduced March 18, 2025. Enacted.
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