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Vermont House Commerce committee bars state disaster‑grant recipients from disaster recovery loan fund
Summary
The House Committee on Commerce and Economic Development voted to accept an amendment to H.398 that prevents businesses that received state disaster financial assistance for the same event from getting loans from the state’s disaster recovery loan fund; the committee recorded 11 in favor.
The Vermont House Committee on Commerce and Economic Development voted April 29 to accept an amendment to H.398 that bars businesses that have received state disaster financial assistance for the same disaster event from receiving loans from the state’s disaster recovery loan fund.
Committee chair said the committee wanted to preserve the fund’s limited dollars for as many businesses as possible. “We want $2,000,000. Sounds like a lot of money, but when you start spreading it out in a disaster, it can go really quick,” the chair said.
The amendment, drafted by legislative counsel, adds a new subsection to…
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