[{"_1":2,"_87":-5,"_88":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":56,"_74":56},"mediaId",6308652,"mediaKeyId","2420767-ced98226988824b401ed345476e4ca8a","parentId",2420767,"title","Committee reviews H.398 rewrite of VEDA statute; VIDA seeks employee housing authority and disaster-recovery loan fund","audioSeconds",2739,"startMs",3716000,"endMs",6455000,"viewUrl","/Search/View?dp=1&key=2420767-ced98226988824b401ed345476e4ca8a&start=3716&end=6455","thumbnailUrl","https://assets.pipeline.soar.com/2420767-ced98226988824b401ed345476e4ca8a/thumbnail_3716000.jpg","articleUrl","/articles/6308652/Vermont/Committee-reviews-H398-rewrite-of-VEDA-statute-VIDA-seeks-employee-housing-authority-and-disaster-recovery-loan-fund","mediaUrl","https://secure.pipeline.soar.com/6308652-2c6a4e0ef9fd36994c71a61046a02e1a/orig.mp4?Expires=1770973923&Signature=VuiywKwnDdYvgDn~I3lSUhQauOs3QCFr7LNovvQ3NV4lsazu1MJa8g-KKEc8d3x0W6MZrAsbbWutiT9GMyDU4Ipjs93evJYRsHSvtJBLxZ5EtPE7wbn1XcDU2p0zA1LPaxx~g2E3VZhXqXlB0LbeSreLlwJm4IeLQDE3cCTnjXQzziZPyAxPjK-n323uWJai45uc7enpUcOE2~OvmepsJMQrJHmeB3ZJ8QX4-ISmH7wWgaYYlaQKCZdiDWuEUdD0PU3M4ltQ0XiCAOr9uU19giFy9ROdWUVHQps0S~JDzI164enPLVacmCQY6iQJrfb2AaRnU4QQUxe9hXsP-Xf~DA__&Key-Pair-Id=KUT5TJCACFTXG","author","","date","2025-02-27T08:06:55Z","article","Legislative counsel and representatives of VIDA (the Vermont Industrial Development Authority, referred to in the bill as the authority) presented a walkthrough of H.398 to the House Committee on Commerce and Economic Development on Feb. 26, focusing on statutory clean-up and several substantive new authorities the bill would grant.

Rick Sagle, legislative counsel, told the committee the bill amends the entire VEDA chapter and that many changes are technical housekeeping. \"I'm gonna be walking through H 398, which I believe is ready to be introduced, on the floor,\" Sagle said, opening the committee's review.

Cassie Palimas, chief executive officer of VIDA, said the bulk of the proposal makes the statute easier to use but singled out two material requests the authority seeks: limited authority related to housing and a permanent disaster-recovery loan fund. \"We are here to go through some general I'm gonna call it housekeeping type of changes to VIDA's bill,\" Palimas said, and noted the housing and disaster-recovery provisions as the primary substantive items for discussion.

Major substantive items discussed

- Housing for employees: H.398 would remove a current prohibition on including housing within the definition of an \"eligible facility or project\" and add a provision to allow certain housing projects designed to house employees of a business to be eligible for VEDA involvement \"upon consent of [the] Vermont Housing Finance Agency.\" Counsel and VIDA staff described the change as narrowly focused on housing tied to business workforce needs rather than general-market housing. Committee members asked whether the language should mirror similar deference provisions elsewhere in statute to reduce ambiguity.

- Permanent disaster-recovery loan fund: The bill adds a new subchapter to create a Vermont disaster-recovery loan fund inside the authority. Vida's CEO characterized this as a new, material financing tool for businesses affected by natural disasters; legislative counsel noted the provision is one of the most substantive changes in the bill.

- Shift from \"mortgage\" terminology to \"secured loan\": The draft replaces repeated references to \"mortgage\" with broader \"secured loan\" language in subchapter 5 and elsewhere. Counsel and VIDA staff said the edits align the statute with current financing instruments the authority uses.

- Governance and operational edits: The bill would remove obsolete references to a now-repealed subchapter and streamline officer/manager appointment language, remove a requirement that the manager's compensation receive the governor's approval, and allow the authority to set policies that delegate loan approvals to loan officers rather than require manager sign-off on every transaction.

- Bonding and financing technical changes: H.398 consolidates repetitive findings and updates bond-sale and signature language to allow modern digital signatures and to clarify who handles proceeds (\"trustee, lender or dispersing agent\"). Counsel described these as technical changes that conform to contemporary practice.

Sustainable jobs strategy and statutory cross-references

Sagle flagged a recurring reference in the draft to a \"Vermont Sustainable Jobs Strategy\" (section 280b) that would inform authority criteria. He told the committee he was not aware the state currently maintains a living strategy in that name and recommended the committee consult ACCD and VIDA about whether the strategy exists and whether to retain the cross-reference. \"If there isn't one and there isn't an effective purpose for having it, then you may want to remove this section,\" Sagle said.

Next steps and procedural notes

Committee members asked VIDA and staff to supply tighter language for the housing consent provision so it dovetails with existing VHFA deference language; VIDA staff indicated they would propose wording consistent with prior statutory language. Members also asked for clarification about records language tied to a repealed subchapter and whether any outstanding mortgage records remain subject to existing retention requirements.

Cassie Palimas and VIDA staff indicated they would return with refinements and those technical edits will be considered at the committee's next scheduled meeting to finish the walkthrough and to position the bill for introduction prior to crossover.

Ending

The committee recessed the detailed H.398 review to a follow-up session, instructing VIDA and legislative counsel to supply replacement language for the housing consent provision and to confirm references to the sustainable jobs strategy and to records-retention language in the bill.","mediaType","Video","parentTitle","House Commerce - 2025-02-26 - 1:00PM","oneSentenceSummary","Legislative counsel and VIDA representatives walked the House Commerce Committee through H.398, a wide-ranging rewrite of the Vermont Economic Development Authority statute that includes housekeeping changes, a new disaster-recovery loan fund, and a provision to allow VEDA/VIDA participation in employee-targeted housing with VHFA consent.","taxTitle","Commerce & Economic Development, HOUSE OF REPRESENTATIVES, Committees, Legislative , Vermont","taxId",36720,"location","Vermont","headline","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":72,"_73":56,"_74":56},6308657,"House Commerce Committee outlines appropriations recommendations for housing, brownfields and small-business supports",6530,2000,6532000,"/Search/View?dp=1&key=2420767-ced98226988824b401ed345476e4ca8a&start=2&end=6532","https://assets.pipeline.soar.com/2420767-ced98226988824b401ed345476e4ca8a/thumbnail_2000.jpg","/articles/6308657/Vermont/House-Commerce-Committee-outlines-appropriations-recommendations-for-housing-brownfields-and-small-business-supports","https://secure.pipeline.soar.com/6308657-3378573e1bb195512a990fd65db97d84/orig.mp4?Expires=1770973923&Signature=agOJC1yvp~wRpFvHmGWumynOLNg26kr-P6-u~tdPcvEpk25thFYbqVq18Z~2rIm2iMiGVfd3qg-bVsTj2UIC6-mEWBbpkrXnuuhb0w-oo0U2xJ36bK7UXgSoTkBS1yEJ-hejD-9k7kvP6Eof9WK-mdhbNWT470gTF8IyUjoUWURP5Kfb77-KE6IQOzxjhNiC-44DWOnKLb-30K1UeaCCAN9GBl9wJTqBA2BDpaqjJ9384u30wujgT1UK3SGhxUCnVi6ELcv2vJPJE5xQPHSmLMp2nVbS0~4nLJX4ciFb8nsmz7s5pnMS3od~r8CLIjIA16xdEgVzW-81P2EL-02VHQ__&Key-Pair-Id=KUT5TJCACFTXG","The Vermont House Committee on Commerce and Economic Development met Feb. 26 and spent the session drafting a letter to the House Appropriations Committee that endorses multiple recommended appropriations in the governor's proposed fiscal year 2026 budget.

The committee worked through a list the Appropriations chair had circulated and voiced general agreement to support the governor's requests and a handful of committee-recommended changes, with members repeatedly registering \"yes\" and marking many items as high priority.

Legislative counsel Rick Sagle told members the committee should start with the items the Appropriations chair highlighted and note whether the committee supports the governor's recommendations. \"For example, this committee, the suggestion were was these several portions of the of the budget,\" Sagle said as he introduced the list for review.

Key items the committee supported or discussed:

- Department of Housing & Community Development (DHCD) staffing: Committee members agreed to support converting two limited-service positions to continue an additional year and discussed whether a third position might be needed; the item was treated as high priority. The committee noted these positions support the \"housing for all\" toolkit and related work.

- Vermont Bond Bank / infrastructure: The committee discussed a $9,100,000 general-fund appropriation for the Vermont Bond Bank and broader infrastructure supports. Members described infrastructure funds as important to municipal projects and agreed to mark the request high priority.

- Vermont Housing Finance Agency (VHFA) rental and homeownership programs: The committee signaled support for a proposed $15,000,000 Vermont Housing Finance Agency rental revolving loan fund and a separate $15,000,000 request for a VHFA homeownership development program; both were treated as high priority.

- Department of Economic Development requests: The committee endorsed base funding for the Vermont Professionals of Color Network ($250,000) and supported adding a one-time $100,000 to expand the network's technical assistance and basic business-education services for BIPOC entrepreneurs.

- Brownfields Revitalization Fund: The committee discussed a recommended increase to a $6,000,000 total capitalization for the Brownfields Revitilization Fund, with $2,000,000 of that total earmarked for regional planning commission (RPC) assessment grants. Members agreed support and discussed committee language asking Appropriations to consider raising the total beyond the governor's $2,000,000 proposal; the committee also discussed inserting notwithstanding language in the letter to lift a $200,000 per-parcel cap in statute for RPC-supported projects.

- VSAC and education-related supports: Committee members signaled support for funding in the Vermont Student Assistance Corporation (VSAC) budget that continues the Vermont Trade Scholarship and for a small dual-enrollment stipend program. They also discussed a proposed Freedom and Unity scholarship and whether to include caveats tied to availability of funds.

Several items provoked follow-up or drafting clarifications rather than formal disagreement. For example, committee members asked staff to clarify whether a $200,000 per-parcel statutory cap on brownfields grants had already been permanently removed in prior legislation and instructed legislative counsel to include a \"notwithstanding\" budget-letter sentence if the committee wanted to treat this as a one-time override.

No formal recorded roll-call votes were taken during the session; members expressed support verbally and asked staff to incorporate the committee's priorities and any specific wording into a draft letter that will be finalized and circulated for approval.

Members asked legislative counsel to refine wording and transfer committee edits into the shared draft; staff agreed to continue revisions and present updated language at the committee's next meeting.

Ending

Committee members closed the hour-long session with instructions to staff: finalize the draft language for the committee's budget letter to Appropriations, include the agreed priorities and any \"notwithstanding\" language the committee chose for brownfields, and circulate the updated draft for final review ahead of the Appropriations deadline.","The Vermont House Committee on Commerce & Economic Development on Feb. 26 drafted recommendations to the House Appropriations Committee backing several governor-recommended and committee-proposed appropriations for fiscal year 2026, including housing-related loans and brownfields funding, and signaled high priority for many items.","actionData","errors"]

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Committee reviews H.398 rewrite of VEDA statute; VIDA seeks employee housing authority and disaster-recovery loan fund

House Commerce Committee outlines appropriations recommendations for housing, brownfields and small-business supports