Act No. 78

(S.288)

Economic development; ARRA appropriations; commerce; trade

This act establishes short-term economic stimulus to certain sectors of the Vermont economy and investment in long-term strategies consistent with the four principal goals of economic development identified by the commission on the future of economic development.

From the $8.66 million available in federal, state fiscal stabilization funds under the American Recovery and Reinvestment Act of 2009 (ARRA), it appropriates funds to the following programs: the entrepreneurs' seed capital fund; the Vermont telecommunications authority (for rural broadband development); the Vermont employment training program; tourism and marketing; the Vermont economic development authority (VEDA), for the agricultural debt consolidation program and the Vermont jobs fund; the Vermont seal of quality program; the farm-to-plate investment program; the farm-to-school program; Vermont agricultural fairs; the Vermont association of conservation districts; the Addison County economic development corporation; the job start loan fund; the individual development account program; the micro-business development program; the downtown and village center program; the Burlington International Airport; the Vermont film corporation; and the Vermont Technical College for deve lopment of a paramedic-level training program.

In addition, the act requires the state auditor to develop an audit strategy; requires the joint fiscal office to report on the Vermont training program; increases the state's moral obligation for the Vermont jobs fund; permits greater inter-fund lending among VEDA programs; extends VEDA's economic recovery and opportunity program; provides for public outreach regarding ARRA-funded private-activity and municipal bonds; establishes legislative priorities for the awarding of competitive ARRA funds; requests a study on state purchases of local goods; authorizes digital nonprofit corporations; expands the authority of the Vermont public power supply authority; establishes a process for obtaining legislative input on international trade agreements; increases the membership of the commission on international trade and state sovereignty; and authorizes a study on the creation of a redevelopment authority.

Date Signed by the Governor:  April 15, 2010

Effective Date:  On passage (April 15, 2010, the date on which the governor signed the bill)