VT H0398

Modernizes the Vermont Economic Development Authority (VEDA) statutes by removing outdated provisions, including repealing the defunct Mortgage Insurance Program and eliminating obsolete definitions and reporting requirements from 1989

Extends the repayment period for loans to local development corporations for small business incubator facilities from 10 years to 20 years after property occupation

Establishes a new Vermont Disaster Recovery Loan Fund to provide loans and financial assistance to businesses, including agricultural and forest product enterprises, following declared or non-declared disasters

Replaces the Governor-adopted Vermont Sustainable Jobs Strategy with direct statutory criteria that VEDA must use when evaluating eligible projects, including job creation, wage quality, economic development in disadvantaged areas, and environmental considerations

Streamlines VEDA's administrative authority by allowing electronic signatures on bonds, removing requirements for Governor approval of manager compensation, and consolidating the Vermont Jobs Fund provisions into a single statute section