The Vermont Statutes Online
The Statutes below include the actions of the 2024 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Title 10 : Conservation and Development
Chapter 029 : Community Development
Subchapter 002 : JOB DEVELOPMENT ZONE
(Cite as: 10 V.S.A. § 698)-
§ 698. Infrastructure improvement program
(a) A municipality that is within a designated job development zone shall be eligible to receive a payment each year from the Agency of Commerce and Community Development to reimburse annual interest costs on indebtedness for economic development related infrastructure projects approved after July 1, 1986. Annual reimbursement payments shall be limited to $1,000,000 of indebtedness in a designated job development zone. The Agency shall require the municipality to submit an amortization schedule and proof of payment of its annual interest payment on bonds. The Agency shall not reimburse a municipality for infrastructure projects unless requests for payment are received within three months after the end of the fiscal year.
(b) Economic development related infrastructure projects shall include water supply, pollution abatement, and highway facilities and such other municipal facilities as may be established by rule under section 695 of this chapter. (Added 1985, No. 172 (Adj. Sess.), § 1; amended 1995, No. 190 (Adj. Sess.), § 1(a).)
