VermontVermont law sets business grants, cash rounding, and property financing rules
The law requires business and training studies, keeps growth incentives beyond their planned 2027 repeal with a lower award cap, and allows cash rounding and property financing districts.
What it does
The economic development commissioner studies how Vermont can better support business growth and reports findings to lawmakers. The law also keeps the Vermont Economic Growth Incentive Program in place beyond its planned 2027 repeal and lowers the yearly cap for new awards to $5 million.
The Department of Labor studies postsecondary culinary and hospitality programs and reports to lawmakers. It also establishes a two-year apprenticeship with multiple employers, using existing resources and structured learning at work.
The Rural Industry Development Grant Program is set in statute. It may award grants for improvements to federally impacted property, and the agency may issue a higher award to applicants who meet certain requirements.
Businesses may round a cash transaction's final amount to the nearest five cents. They must post a notice if they choose to round, and taxes and fees still use the amount before rounding.
Municipal lawmakers may designate a district where commercial and industrial property owners can use a voluntary property tax assessment to pay upfront costs for qualifying energy, water, or resilience projects.
Argument forWorkers may gain hands-on training in hospitality and culinary jobs through an apprenticeship involving multiple employers and structured learning at work.
Argument againstBusinesses may have less room to receive new growth incentives under the lower yearly award cap, while property owners who use clean energy financing take on a voluntary property tax assessment.
More detail
The Commissioner of Economic Development studies how the State can better support Vermont businesses and reports to the General Assembly. The study concerns the growth of Vermont businesses. The program's planned repeal date was January 1, 2027; the passage gives no reporting deadline for the study.
The Department of Labor studies culinary and hospitality education and establishes a two-year apprenticeship program. The study and apprenticeship concern culinary arts and hospitality. The apprenticeship includes multiple employers, uses existing resources, and provides structured learning at work. The apprenticeship program lasts two years; the passage gives no start date.
The Agency of Commerce and Community Development may issue grants through the Rural Industry Development Grant Program. An applicant may receive an award for improvements to a federally impacted property. The Agency may issue a higher award to an applicant that meets certain requirements.
Businesses may round the final amount of a cash transaction to the nearest five cents. The rule applies to final cash transaction amounts. Rounding does not apply to electronic payments, wages, or rebates. Taxes and fees are calculated and paid using the amount before rounding. Businesses that round must post a notice; the Commissioner of Liquor and Lottery provides a model notice.
A municipality's legislative body may designate the municipality as a commercial clean energy district. The financing option is for owners of commercial or industrial buildings in a designated district. A commercial or industrial property owner may use a voluntary property tax assessment to finance upfront costs for qualifying energy, water, and resilience projects. Except for obligations in a clean energy agreement, neither the program administrator nor the municipality is liable for the energy savings or resilience improvements financed through the program.
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Where it stands
- Introduced
- Passed 1st Chamber
- Passed 2nd Chamber
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- May 29Senate Message: Signed by Governor Phil Scott June 8, 2026Latest
- May 29Signed by Governor Phil Scott on June 8, 2026Became Law
- May 29Delivered to Governor on June 2, 2026To Governor
- May 14Senate Message: House proposal of amendment concurred inMinor
- May 13As passed by Senate and HouseMajor
- May 13House proposal of amendment concurred inMinor
- May 13House proposal of amendment; textMinor
- May 13Unfinished Business/House Proposal of AmendmentMinor
- May 12Unfinished Business/House Proposal of AmendmentMinor
- May 8Unfinished Business/House Proposal of AmendmentMinor
- May 7New Business/House Proposal of AmendmentMinor
- May 6House proposal of amendmentMinor
- May 6Entered on Notice Calendar
- May 6House message: House passed bill in concurrence with proposal(s) of amendment
- May 1Read third time and passed in concurrence with proposal of amendmentPassed 2nd Chamber
- May 1Action Calendar: Third ReadingMinor
- Apr 30Third Reading orderedMinor
- Apr 30Report of Committee on Commerce and Economic Development, as amended, agreed to
- Apr 30Report of Committee on Commerce and Economic Development amended as recommended by Committee on Ways and Means
- Apr 30Rep. Stevens of Waterbury recommended for the Committee on Appropriations
- Apr 30Rep. Kimbell of Woodstock recommended for the Committee on Ways and Means
- Apr 30Rep. Duke of Burlington reported for the Committee on Commerce and Economic Development
- Apr 30Read second timeMinor
- Apr 30Action Calendar: Favorable with Amendment
- Apr 29Notice Calendar: Favorable with Amendment
- Apr 24Pending entry on Notice Calendar, referred to Committee on Appropriations per Rule 35(a)
- Apr 22Referred to Committee on Ways and Means per Rule 35(a)
- Apr 22Notice Calendar: Favorable with Amendment
- Mar 27Read first time and referred to the Committee on Commerce and Economic DevelopmentMinor
- Mar 25Read 3rd time & passedPassed 1st Chamber
- Mar 25Pending third reading, bill amended as moved by Senator(s) HarrisonMinor
- Mar 25New Business/Third ReadingMinor
- Mar 243rd reading ordered
- Mar 24Recommendation of amendment by Committee on Economic Development, Housing and General Affairs, as amended, agreed to
- Mar 24Recommendation of amendment by Committee on Economic Development, Housing and General Affairs amended as recommended by Committee on Appropriations
- Mar 24Recommendation of amendment by Committee on Economic Development, Housing and General Affairs amended as recommended by Committee on Finance
- Mar 24Reported favorably by Senator Perchlik for Committee on Appropriations with recommendation of amendmentMinor
- Mar 24Reported favorably by Senator Brock for Committee on Finance with recommendation of amendmentMinor
- Mar 24Reported favorably by Senator Clarkson for Committee on Economic Development, Housing and General Affairs with recommendation of amendmentMinor
- Mar 24Read 2nd timeMinor
- Mar 24Favorable report with recommendation of amendment by Committee on AppropriationsMinor
- Mar 24Favorable report with recommendation of amendment by Committee on FinanceMinor
- Mar 24Favorable report with recommendation of amendment by Committee on Economic Development, Housing and General AffairsMinor
- Mar 24Unfinished Business/Committee Bill for Second ReadingMinor
- Mar 20Favorable report with recommendation of amendment by Committee on AppropriationsMinor
- Mar 20Favorable report with recommendation of amendment by Committee on FinanceMinor
- Mar 20Favorable report with recommendation of amendment by Committee on Economic Development, Housing and General AffairsMinor
- Mar 20Committee Bill for Second ReadingMinor
- Mar 19Favorable report with recommendation of amendment by Committee on AppropriationsMinor
- Mar 19Favorable report with recommendation of amendment by Committee on FinanceMinor
- Mar 19Favorable report with recommendation of amendment by Committee on Economic Development, Housing and General AffairsMinor
- Mar 19Committee Bill for Second ReadingMinor
- Mar 19Entered on Notice Calendar
- Mar 18Referred to Committee on Appropriations per Senate Rule 31
- Mar 18Favorable report by Committee on FinanceMinor
- Mar 18Favorable report with recommendation of amendment by Committee on Economic Development, Housing and General AffairsMinor
- Mar 18Second ReadingMinor
- Mar 18Entered on Notice Calendar
- Mar 13Referred to Committee on Finance per Senate Rule 31
- Mar 13Favorable report with recommendation of amendment by Committee on Economic Development, Housing and General AffairsMinor
- Mar 13Committee Bill for Second ReadingMinor
- Mar 13Entered on Notice Calendar
- Feb 3Committed to Committee on Economic Development, Housing and General Affairs on motion of Senator Clarkson
- Feb 3Committee Bill for Second ReadingMinor
- Feb 3Entered on Notice Calendar
- Jan 30Committee bill read first time & placed on Notice Calendar per Senate Rule 48Introduced
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