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Committee reviews H.398 rewrite of VEDA statute; VIDA seeks employee housing authority and disaster-recovery loan fund
Summary
Legislative counsel and VIDA representatives walked the House Commerce Committee through H.398, a wide-ranging rewrite of the Vermont Economic Development Authority statute that includes housekeeping changes, a new disaster-recovery loan fund, and a provision to allow VEDA/VIDA participation in employee-targeted housing with VHFA consent.
Legislative counsel and representatives of VIDA (the Vermont Industrial Development Authority, referred to in the bill as the authority) presented a walkthrough of H.398 to the House Committee on Commerce and Economic Development on Feb. 26, focusing on statutory clean-up and several substantive new authorities the bill would grant.
Rick Sagle, legislative counsel, told the committee the bill amends the entire VEDA chapter and that many changes are technical housekeeping. "I'm gonna be walking through H 398, which I believe is ready to be introduced, on the floor," Sagle said, opening the committee's review.
Cassie Palimas, chief executive officer of VIDA, said the bulk of the proposal makes the statute easier to use but singled out two material requests the authority seeks: limited authority related to housing and a permanent disaster-recovery loan fund. "We are here to go through some general I'm gonna call it housekeeping type of changes to VIDA's bill," Palimas said, and noted the housing and disaster-recovery provisions as the primary substantive items for discussion.
Major substantive items discussed
- Housing for employees: H.398…
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