Vermont 2025-2026 Regular Session

Vermont Senate Bill S0225

Introduced
1/8/26  

Caption

An act relating the Vermont Economic Growth Incentive Program

Impact

The continued existence of the Vermont Economic Growth Incentive Program is designed to promote investment in the state, giving businesses the financial support they need to hire new employees and expand operations. Proponents of S0225 argue that by maintaining this incentive program, Vermont can enhance its attractiveness to both new and existing businesses, potentially leading to job creation and economic stagnation reduction. This move is particularly critical in the wake of current economic challenges faced by the state.

Summary

Bill S0225 seeks to amend the Vermont Economic Growth Incentive Program by removing its prospective repeal set for January 1, 2027. By eliminating this repeal, the bill aims to extend the program's authority to award economic growth incentives to businesses within Vermont, fostering an environment conducive to economic development. The Vermont Economic Progress Council would continue to accept and approve applications for Vermont Employment Growth Incentives as per the current statutory provisions.

Contention

Opponents of the bill might raise concerns regarding the long-term effectiveness of incentives in driving genuine, sustainable economic growth. Critics may argue that these programs can lead to misallocations of resources or perpetuate dependencies on state support, questioning whether the incentives genuinely benefit the economy or simply provide temporary boosts to specific sectors or companies. Another point of contention may revolve around the transparency and accountability of how the funds from the incentive programs are allocated and managed over time.

Companion Bills

No companion bills found.

Previously Filed As

VT SF2373

A bill for an act modifying the major economic growth attraction program to include incentivizing the building of a professional sports stadium by a national football league franchise in the state.(Formerly SF 2252.)

VT SF2252

A bill for an act modifying the major economic growth attraction program to include incentivizing the building of a professional sports stadium by a national football league franchise in the state.(See SF 2373.)

VT HB325

AN ACT relating to economic development incentives.

VT SSB3103

A bill for an act relating to matters under the purview of the economic development authority, the utilities commission, and the department of education, including creation of the headquarters expansion and development for growth and employment program, and the business incentives for growth program training fund; repeal of the new jobs tax credit program; the major economic growth attraction program; load forecasting and analysis of electric transmission system expansion plans; creation of the electric transmission system expansion planning and analysis and load forecasting fund; the industrial new jobs training program; and including effective date provisions.(See SF 2301, SF 2506.)

VT HSB755

A bill for an act relating to matters under the purview of the economic development authority, the utilities commission, and the department of education, including creation of the headquarters expansion and development for growth and employment program, and the business incentives for growth program training fund; repeal of the new jobs tax credit program; the major economic growth attraction program; load forecasting and analysis of electric transmission system expansion plans; creation of the electric transmission system expansion planning and analysis and load forecasting fund; the industrial new jobs training program; and including effective date provisions.(See HF 2799.)

VT SF2301

A bill for an act relating to matters under the purview of the economic development authority, the utilities commission, and the department of education, including creation of the headquarters expansion and development for growth and employment program, and the business incentives for growth program training fund; repeal of the new jobs tax credit program; the major economic growth attraction program; load forecasting and analysis of electric transmission system expansion plans; creation of the electric transmission system expansion planning and analysis and load forecasting fund; the industrial new jobs training program; and including effective date provisions.(Formerly SSB 3103; See SF 2506.)

VT SSB1205

A bill for an act relating to matters under the purview of the Iowa economic development authority, including tax credit limits, targeted jobs tax credits, and the major economic growth attraction program; creation of the business incentives for growth program, the seed investor tax credit program, the Iowa film production incentive program, the research and development tax credit program, and the sustainable aviation fuel production tax credit program; elimination of the high quality jobs program, the investments in qualifying businesses tax credit, employer child care tax credits, assistive device tax credits, endow Iowa tax credits, and research activities tax credits; and including effective date provisions and criminal penalties.(See SF 657.)

VT HSB305

A bill for an act relating to matters under the purview of the Iowa economic development authority, including tax credit limits, targeted jobs tax credits, and the major economic growth attraction program; creation of the business incentives for growth program, the seed investor tax credit program, the Iowa film production incentive program, the research and development tax credit program, and the sustainable aviation fuel production tax credit program; elimination of the high quality jobs program, the investments in qualifying businesses tax credit, employer child care tax credits, assistive device tax credits, endow Iowa tax credits, and research activities tax credits; and including effective date provisions and criminal penalties.(See HF 1054.)

VT HB4130

growth zones; housing and economic

VT SB2304

Methane Reduction and Economic Growth Act

Similar Bills

No similar bills found.