Bill H.377 proposes the establishment of a local media advertising tax credit aimed at supporting small businesses in Vermont. The bill amends current law to include a new section, 5830g, which allows small businesses to claim a refundable tax credit equal to 50% of their advertising expenditures in local media outlets, with a maximum credit of $250. The bill also defines key terms such as "local broadcast organization," "local media outlet," and "small business," ensuring clarity on eligibility and the types of organizations that qualify for the credit.

Additionally, the bill outlines the statutory purpose of the local media advertising tax credit, emphasizing its role in incentivizing small businesses to engage with local media. The act is set to take effect on January 1, 2026, providing a timeline for implementation. Overall, H.377 aims to bolster local media and support small businesses by encouraging them to invest in advertising within their communities.

Statutes affected:
As Introduced: 32-5813