The bill aims to enhance business growth and development in Vermont through a comprehensive study led by the Commissioner of Economic Development. This study will define stages of business development, identify public and private resources, and improve communication on succession planning, capital access, and investor education. A report with findings and recommendations is due by December 15, 2026. Additionally, the bill amends the Convention Center Task Force's membership and extends its existence until July 1, 2027, while also repealing the authority to award Vermont Employment Growth Incentives (VEGI) after January 1, 2027, and reducing the annual program cap for VEGI approvals. It also establishes a culinary and hospitality education study and a pilot apprenticeship program to address workforce needs in these sectors, with reports due by December 2026.

Furthermore, the bill creates the Rural Industry Development Grant Program to provide funding for local development corporations focused on business relocation and expansion in rural communities. It outlines eligibility criteria, funding activities, and the application process, allowing grants up to $1,000,000 or 50% of project costs. The bill also repeals previous deed restrictions related to grant recipients and introduces provisions for nickel rounding in cash transactions. Additionally, it amends laws related to the Commercial Property-Assessed Clean Energy (C-PACE) program, requiring property owners to disclose risks and obtain consent from mortgage holders, while clarifying the rights and liabilities of municipalities involved in the program. The act will take effect upon passage.

Statutes affected:
As Introduced: 32-151, 32-11J, 32-105
As Passed By the Senate -- Official: 32-151, 32-11J, 32-105
As Passed by Both House and Senate -- Official: 32-151, 32-11J, 32-105, 32-3342, 24-3263, 24-3264, 24-3265, 24-3268, 24-3255, 9-46
As Passed by Both House and Senate -- Unofficial: 32-3342, 24-3263, 24-3264, 24-3265, 24-3268, 24-3255, 9-46
As Enacted: 32-3342, 24-3263, 24-3264, 24-3265, 24-3268, 24-3255, 9-46