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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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