The bill H.332 proposes the establishment of the Small Business Technical Assistance Exchange in Vermont, aimed at providing grants and professional assistance to small- and mid-sized businesses. The Exchange will be operated by regional development corporations and will offer support through in-house Business Navigators, partnerships with organizations that focus on outreach to historically marginalized populations, and grants to private providers for various professional services. Eligible businesses must be for-profit entities located in Vermont with a minimum average annual revenue of $5,000. The Exchange will also require businesses with owners whose income exceeds the federal labor market area to provide a 50% match for grant-funded professional services.

Additionally, the bill appropriates $1,250,000 from the General Fund for fiscal year 2026 to support the services provided through the Small Business Technical Assistance Exchange. The regional development corporations are tasked with maintaining a directory of technical assistance providers, conducting outreach to promote participation, and publishing biannual reports on the Exchange's activities and performance. The act is set to take effect on July 1, 2025.