Bill H.377 proposes the establishment of a local media advertising tax credit aimed at supporting small businesses in Vermont. The bill introduces a new section, 5830g, to the Vermont Statutes, 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 defines "local media outlet" to include both local broadcast organizations and local news organizations, outlining specific criteria for what constitutes a local news organization, such as the requirement to produce original content and maintain a certain level of local coverage.

Additionally, the bill amends section 5813 of the Vermont Statutes to include a new statutory purpose for 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.

Statutes affected:
As Introduced: 32-5813