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Vermont Legislative Update 02-05-2021 - An analysis from DRM's Government & Public Affairs Team | Downs Rachlin Martin PLLC


Project based TIFs would expand rural redevelopment
The Senate Committee on Economic Development, Housing and General Affairs is considering S.33, a bill that would allow more towns to apply for project-based tax increment financing. TIFs allow municipal governments to fund new private infrastructure projects through the anticipated tax revenue that results from the new projects.
S.33 would create a pilot program limited to six projects with a $1.5 million cap per application. This bill was considered last year with a higher limit but was lowered to get the support of the Senate Finance Committee chair. Witnesses testified this week in favor of increasing the cap to at least $4 million. ....

United States , Town Of Westford , Mike Sirotkin , Brittney Wilson , Heidi Scheuermann , Phil Scott , Peter Teachout , Brian Carpenter , Tom Kavet , Chris Bray , Mike Harrington , Richard Faesy , Peter Tucker , Rachlin Martin , Doug Hoffer , Energy Futures Group Inc , Senate Finance Committee , Agency Of Commerce , Energy Management Program , Economic Development , Department Of Labor , Tax Department , Senate Committee On Economic Development , Senate Committee On Natural Resources , Public Affairs , Vermont Communications Union Districts Association ,

Auditor: State-funded 'job incentives' go to Chittenden County businesses that would not have left Vermont


By Guy Page
At least three-quarters of the businesses taking government employment incentive money to stay in Vermont would not have left the state regardless, a study by Vermont Auditor Doug Hoffer concludes.
Furthermore, prosperous, well-employed Chittenden County derives more employment benefit from these programs than the rest of the state combined.
In other words, enticing businesses with public money to come to Vermont or not leave just doesn’t work most of the time, Hoffer says. Either the money isn’t the determining factor it’s a nice “if you’re offering, I’m taking” benefit or the company takes the money and moves anyway. ....

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