The bill H.398 relates to the Vermont Economic Development Authority and includes amendments to the existing law regarding the issuance of financial assistance from the Vermont Disaster Recovery Loan Fund. Specifically, it proposes a new subsection (e) in 10 V.S.A. chapter 12, section 280gg, which requires the Authority to consider whether a business has previously received disaster recovery financial assistance from the State for the same disaster event before issuing new financial assistance.

This amendment aims to ensure that businesses do not receive duplicative financial support for the same disaster, promoting a more efficient allocation of resources. The deletion of the previous subsection (e) and the insertion of the new language reflect a shift towards a more careful evaluation of financial assistance requests in the context of disaster recovery.

Statutes affected:
As Introduced: 10-12
As Passed By the House -- Official: 10-12
As Passed By the House -- Unofficial: 10-12
As Passed by Both House and Senate -- Official: 10-12
As Passed by Both House and Senate -- Unofficial: 10-12
As Enacted: 10-12