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Vermont Statutes Title 32. Taxation and Finance, § 3330. Purpose; form of incentives; enhanced incentives; eligible applicant

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) Purpose. The purpose of the Vermont Employment Growth Incentive Program is to generate net new revenue to the State by encouraging a business to add new payroll, create new jobs, and make new capital investments and sharing a portion of the revenue with the business.

(b) Form of incentives; enhanced incentives.

(1) The Vermont Economic Progress Council may approve an incentive under this subchapter in the form of a direct cash payment in annual installments.

(2) The Council may approve the following enhanced incentives:

(A) an enhanced incentive for a business in a labor market area with higher than average unemployment or lower than average wages pursuant to section 3334 of this title; and

(B) an enhanced incentive for an environmental technology business pursuant to section 3335 of this title.

(C) Repealed by 2021, Adj. Sess., No. 105, § 504, eff. July 1, 2022.

(c) Eligible applicant. Only a business may apply for an incentive pursuant to this subchapter.

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Cite this article: FindLaw.com - Vermont Statutes Title 32. Taxation and Finance, § 3330. Purpose; form of incentives; enhanced incentives; eligible applicant - last updated January 01, 2024 | https://codes.findlaw.com/vt/title-32-taxation-and-finance/vt-st-tit-32-sect-3330/

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