Vermont Statutes Annotated — Title 32 (Taxation and Finance)
32 V.S.A. § 3342
Annual program cap
# (a)
In each calendar year the Vermont Economic Progress Council may approve one or more incentives under this subchapter, the total value of which shall not exceed:
# (1)
$15,000,000.00 for one or more initial approvals; and
# (2)
$10,000,000.00 for one or more final approvals.
# (b)
The Council may increase the cap imposed in subdivision (a)(2) of this section by not more than $5,000,000.00 upon application by the Governor to, and approval of, the Joint Fiscal Committee.
# (c)
In evaluating the Governor’s request, the Committee shall consider the economic and fiscal condition of the State, including recent revenue forecasts and budget projections.
# (d)
The Council shall provide the Committee with testimony, documentation, company-specific data, and any other information the Committee requests to demonstrate that increasing the cap will create an opportunity for return on investment to the State. (
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In this chapter (15 sections)
- 105-3325 · Vermont Economic Progress Council
- 105-3326 · Cost-benefit model
- 105-3330 · Purpose; form of incentives; enhanced incentives; eligible…
- 105-3331 · Definitions
- 105-3332 · Application; approval criteria
- 105-3333 · Calculating the value of an incentive
- 105-3334 · Enhanced incentive for a business in a qualifying labor…
- 105-3335 · Enhanced incentive for environmental technology business
- 105-3336 · Repealed. 2019, No. 80, § 16
- 105-3337 · Earning an incentive
- 105-3338 · Claiming an incentive; annual filing with Department of Taxes
- 105-3339 · Recapture; reduction; repayment
- 105-3340 · Reporting
- 105-3341 · Confidentiality of proprietary business information
- 105-3342 · Annual program cap