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 to replace the existing subsection (e) in 10 V.S.A. chapter 12, section 280gg. The new language stipulates that when determining whether to provide financial assistance, the Authority must consider if a business has already received disaster recovery financial assistance from the State for the same disaster event.

This amendment aims to ensure that financial assistance is allocated appropriately and prevents duplication of support for businesses affected by disasters. By incorporating this consideration into the decision-making process, the bill seeks to promote responsible use of the Disaster Recovery Loan Fund and enhance the effectiveness of disaster recovery efforts in Vermont.

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