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Committee debates baby‑bonds pilot language in S.122; members request treasurer testimony
Summary
Committee members debated language that would enable a privately funded Vermont baby‑bonds pilot and expressed split views on eligibility, administration and the potential for future state funding. Members asked for the treasurer and a House liaison to appear at a follow‑up briefing.
A lengthy and at times contentious portion of the Economic Development, Housing & General Affairs meeting centered on baby‑bonds language contained in sections 8–10 of S.122. The sections would create session law enabling the treasurer to run a privately funded pilot of the Vermont Baby Bond Trust and create a special fund to accept private donations to seed a five‑year pilot.
Committee staff member Rick Segal summarized the changes, telling members the treasurer’s office “came, late in the session to ask for more specific pilot language to help them establish this pilot program.” Segal said the session language would give the treasurer authority to convene a five‑year pilot, appoint an advisory group, evaluate eligibility criteria, and report annually to the legislature through 2030 with a final report in 2031.
The committee’s discussion…
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