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Senate committee previews economic development bill: downtown tax cap, small‑business legal aid, microbusiness grants and task forces
Summary
Committee staff presented Draft 1.2 of the economic development committee bill, proposing increases to the downtown/village center tax cap, funding for legal help and advising for small businesses, microbusiness and brownfields allocations, expanded studies and task forces, and a repeal of the VEGI sunset.
Committee counsel presented Draft 1.2 of the Senate Economic Development, Housing & General Affairs Committee’s economic development bill and walked through key sections for members.
The bill’s purpose is to strengthen Vermont businesses, support downtowns and provide targeted financial and technical assistance across business stages. Major committee proposals include raising the Downtown and Village Center Tax program cap from $3 million to $5 million annually; a $300,000 allocation in 2027 to sustain the Vermont Small Business Law Center’s free legal help to small businesses; a $689,000 grant to the Vermont Small…
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