VT S0062

Expands the definition of "privatization contract" to include grants (not just contracts) valued at $25,000 or more per year for services substantially similar to those previously provided by classified State employees

Increases the required cost savings threshold from 10 percent to 20 percent for agencies to enter into privatization contracts with private contractors

Requires privatization contract bids to specify wage rates (not less than comparable State employee rates) and include health, dental, and vision insurance coverage at least equal to State employee benefit levels

Establishes a three-member review panel (Commissioner of Labor, Auditor of Accounts, and union representative) to determine contract compliance within 10 days of the 35-day union consultation period, with non-compliant contracts void and subject to court injunction

Mandates contractors provide just cause employment protection and whistleblower protections to employees, and authorizes the Attorney General to investigate whether 20 percent savings are achieved after 12 months, with failure resulting in return of services to State employees