Vermont § 220a - The Vermont Jobs Fund

§ 220a. The Vermont Jobs Fund

• (a) There is hereby created the Vermont Jobs Fund, hereinafter called the Fund, which
  shall be used by the Authority as a nonlapsing fund for the purposes of this chapter.
  To it shall be charged all operating expenses of the Authority not otherwise provided
  for and all payments of interest and principal required to be made by the Authority
  under this subchapter. To it shall be credited any appropriations made by the General
  Assembly for the purposes of this chapter and all payments required to be made to
  the Authority under this chapter, it being the intent of this section that the Fund
  shall operate as a revolving fund whereby all appropriations and payments made thereto
  may be applied and reapplied for the purposes of this chapter. Monies in the Fund
  may be loaned at interest rates to be set by the Authority for the following: (1) Loans to local development corporations under this chapter. (2) Direct loans as described in subchapter 5 of this chapter. (3) Loans for the financing of export activities under subchapter 9 of this chapter. (4) Other loans as the Authority may prescribe under subchapter 10 of this chapter. (b) Monies in the Fund may be loaned to the Vermont Agricultural Credit Program to support
  its lending operations as established in chapter 16A of this title at interest rates
  and on terms and conditions to be set by the Authority to establish a line of credit
  in an amount not to exceed $100,000,000.00 to be advanced to the Vermont Agricultural
  Credit Program to support its lending operations as established in chapter 16A of
  this title. (c) Monies in the Fund may be loaned to the Vermont Small Business Development Corporation
  to support its lending operations as established pursuant to subdivision 216(14) of this title at interest rates and on terms and conditions to be set by the Authority. (d) Monies in the Fund may be loaned to the Vermont 504 Corporation to support its lending
  operations as established pursuant to subdivision 216(13) of this title at interest rates and on terms and conditions to be set by the Authority. (e) The Authority may loan money from the Fund to the Vermont Sustainable Energy Loan
  Fund established under subchapter 13 of this chapter at interest rates and on terms
  and conditions set by the Authority. (Added 1973, No. 197 (Adj. Sess.), § 1; amended 1985, No. 81, § 3; 1995, No. 46, § 8, eff. April 20, 1995; 2003, No. 7, § 8, eff. April 25, 2003; 2003, No. 67, § 4, eff. June 16, 2003; 2009, No. 78 (Adj. Sess.), § 16, eff. April 15, 2010; 2013, No. 87, § 4; 2015, No. 157 (Adj. Sess.), § A.5, eff. June 2, 2016; renumbered from 10 V.S.A. § 234 and amended by 2025, No. 26, § 2, eff. July 1, 2025.)