§ 526. Basic needs budget and livable wage; report
(a) As used in this section:
(1) “Basic needs” means the essentials needed to run a household, including food, housing,
transportation, child care, utilities, health and dental care, taxes, rental and life
insurance, personal expenses, and savings.
(2) “Basic needs budget” is the amount of money needed by a Vermont household to maintain
a basic standard of living, calculated using current State and federal data sources
for the costs of basic needs.
(3) “Livable wage” means the hourly wage required in an urban or rural area for a full-time
worker who lives in shared housing and has employer-assisted health insurance to pay
for the basic needs budget.
(b) On or before January 15 of each new legislative biennium, the Joint Fiscal Office
shall report the calculated basic needs budgets of various representative household
configurations and the calculated livable wage for both urban and rural areas for
the previous year. This calculation may serve as an additional indicator of wage and
other economic conditions in the State and shall not be considered official State
guidance on wages or other forms of compensation.
(c) The methodology for calculating basic needs budgets shall be built on methodology
described in the November 2023 Basic Needs Budget Technical Advisory Committee report,
modified as appropriate by any statutory changes made by the General Assembly and
subsequent modifications adopted by the Joint Fiscal Committee under subsection (d)
of this section.
(d) The Joint Fiscal Committee may adopt modifications to the methodology used to determine
the basic needs budget calculations under subsection (c) of this section to account
for public policy changes, data availability, or any other factors that have had an
impact on any aspects of the methodology. Changes or revisions in methodology adopted
by the Committee shall be effective no later than November in the year preceding the
release of the report.
(e) It is the intent of the General Assembly that the methodology for calculating the
basic needs budget and livable wage shall be updated every six years or more frequently
to ensure that it continues to reflect the actual cost to maintain a basic standard
of living in Vermont. (Added 2005, No. 59, § 1; amended 2007, No. 202 (Adj. Sess.), § 1; 2019, No. 144 (Adj. Sess.), § 11(c) (redesignated from 2 V.S.A. § 505); 2023, No. 123 (Adj. Sess.), § 1, eff. July 1, 2024.)
NotesHistoryRedesignation of section—2019 (Adj. Sess.).
This section was originally enacted as section 505 of this title and was redesignated
as section 526 by 2019, No. 144 (Adj. Sess.), § 11(c).