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Committee votes to approve H.398 (VIDA modernization) after brief discussion
Summary
The committee voted to approve H.398, a bill that moves the sustainable job strategy into statute and repurposes VGAT funds as seed money for a loan program; roll-call recorded seven affirmative votes from present senators.
The Senate Committee on Finance voted to approve H.398, titled the VIDA and modernization bill, after brief discussion and review of an emailed comment from the Vermont Sustainable Jobs Fund.
A committee member moved the motion to approve the bill. During discussion committee members said the bill replaces a prior governor's letter with statutory language describing a sustainable job strategy and repurposes existing VGAT funds as seed money for a future disaster-response loan program.
Committee members said the bill will move $2 million into a program seed and that the bill clarifies the agency — rather than the state — as the lending authority for certain programs, noting the agency does not carry the state's full-faith-and-credit obligation. One committee member forwarded an email from Ellen Taylor of the Vermont Sustainable Jobs Fund saying the similar names of funds are unfortunate but manageable; that email was included in the record.
The committee called the roll. The following members recorded "Yes": Senator Chitin, Senator Brock, Senator Gulick, Senator Beck, Senator Hardy, Senator Madoff and Senator Cummings. The clerk announced seven affirmative votes and the item was reported out of committee.
The committee did not attach additional fiscal amendments at the meeting; committee members discussed next steps for related finance work before the session deadline.
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