Vermont S0088 creates an enhanced growth incentive for employee-owned businesses within the Vermont Employment Growth Incentive Program.

Vermont S0088 amends the Vermont Employment Growth Incentive Program to include an enhanced growth incentive for employee-owned businesses. This incentive aims to support the growth of locally owned and controlled businesses, which typically provide higher wages and benefits to their employees. The Vermont Economic Progress Council will calculate the value of the incentive based on new revenue growth and the business's potential share of that growth. The bill defines "employee-owned business" and outlines the process for calculating the incentive. This act takes effect on July 1, 2025.

Vermont S0088 creates an enhanced growth incentive for employee-owned businesses within the Vermont Employment Growth Incentive Program.

Vermont S0088 amends the Vermont Employment Growth Incentive Program to include an enhanced growth incentive for employee-owned businesses. This incentive aims to support the growth of locally owned and controlled businesses, which typically provide higher wages and benefits to their employees. The Vermont Economic Progress Council will calculate the value of the incentive based on new revenue growth and the business's potential share of that growth. The bill defines "employee-owned business" and outlines the process for calculating the incentive. This act takes effect on July 1, 2025.