A proposal to allow employers to invest in workforce housing opportunities was included in the Workforce Housing Bill introduced yesterday by Rep. Katherine Sims. The Missing Middle Rental Housing Program would, in part, create a revolving loan fund to provide lower rates to developers to build housing that employers can invest in. Details of this proposal are not yet clear, but the Vermont Chamber will continue to be actively engaged in shaping the initiative to ensure that employers looking for a way to be actively involved in a solution to the housing shortage have a mechanism to do so.

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The Budget Adjustment Act will be finalized next week following recommendations made to the House Appropriations Committee. For the most part, the proposals advocated for by the Vermont Chamber are being recommended as requested. The Rural Infrastructure Assistance Program has gained wide support, but how funds would be allocated and to whom, remains in consideration. 

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Following the announcement of the Governor’s paid family and medical leave plan in December, an alternative bill has formally been introduced in the legislature. The most notable difference is the funding structure, with the Governor’s proposal using existing revenue while the House proposal relies on a 0.58% payroll tax on businesses and employees.

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The Rural Caucus meets weekly to discuss proposals under consideration that would impact rural communities. With tri-party leadership, legislators across the political spectrum, and diverse geographic representation, those in attendance are bound by a dedication to seeing rural Vermont thrive. In recent weeks, the group has heard from members on proposals considered for inclusion in a rural omnibus bill. Thirty-three proposals were voted on, with the top ten moving forward.

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The House Ways and Means Committee reviewed a report on recommendations for the creation and implementation of an income-based education tax to replace the homestead property tax. While businesses are facing several significant tax proposals this session, the total impact of new taxes must be considered so the Vermont economy is not overwhelmed.

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Discussion in recent years on how to address aggregating retail theft has been met with resistance due to police department staffing issues, court backlogs caused by the pandemic, and an unwillingness to prioritize nonviolent property crimes. 

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• H.10 Vermont Employment Growth Incentive (VEGI): A bill that would amend VEGI program has been referred to the House Commerce and Economic Development Committee. The changes proposed could remove enhanced incentives in rural communities, limit awards during periods of low unemployment, and require the disclosure of proprietary information for current and future applicants.  Learn more.
• S.5 Affordable Heat: The Senate Natural Resources and Energy Committee has taken testimony from the administration, advocates, and industry stakeholders on this year’s version of the Clean Heat Standard. The bill directs obligated parties to reduce greenhouse gas emissions in the thermal sector by taking actions to earn clean heat credits, and Vermonters will have to invest about $2 billion on new heating systems and weatherization to avoid the added cost of about 70 cents per gallon on kerosene, heating oil, and propane. Learn more.
• H.120 Cloud Tax: A bill to repeal the cloud tax exemption for sales and use tax on vendor-hosted prewritten computer software has been referred to the House Ways and Means Committee. This would raise costs in the technology sector and across the business community, including in hospitality, manufacturing, transportation, agriculture, and financial services. Learn more.
• H.121 Consumer Privacy: Legislation aimed at protecting consumer data privacy has been referred to the House Commerce and Economic Development Committee. The bill narrows the use of personal information of consumers collected by data collectors and requires them to allow consumers to opt out of the processing of personal information for targeted advertising and other purposes. Learn more.
• S.9 Authority of State Auditor: This bill would allow the State Auditor to scrutinize the books and records of any contractor providing services to the State. It has been referred to the Senate Government Operations Committee. The change would open up any contractor providing services under a State contract to the possibility of an audit. Learn more.