Vermont § 280a - Eligible projects; authorized financing programs

§ 280a. Eligible projects; authorized financing programs

• (a) The Authority may develop, modify, and implement any existing or new financing program,
  provided that any specific project that benefits from such program shall meet the
  criteria contained in the Vermont Sustainable Jobs Strategy outlined in section 280b of this title. These programs may include: (1) [Repealed.] (2) the Loans to Local Development Corporations Program, administered under chapter 12,
  subchapter 3 of this title; (3) the Industrial Revenue Bond Program, administered under chapter 12, subchapter 4 of
  this title; (4) the Direct Loan Program, administered under chapter 12, subchapter 5 of this title; (5) the SBA 504 Certified Development Company and Small Business Loan Programs of the
  Authority’s Vermont 504 Corporation, administered by the Authority under subdivision 216(13) of this title; (6) the Small Business Development Corporation Program, administered by the Authority
  under subdivision 216(14) of this title; (7) one or more programs targeting economically distressed regions of the State, and specifically
  including the Authority to develop a program to finance or refinance up to 100 percent
  of the existing assets or debts of a health, recreation, and fitness organization
  that is exempt under Section 501(c)(3) of the Internal Revenue Code, the income of which is entirely used for its exempt purpose, that owns and operates
  a recreation facility located in a distressed region of the State; (8) an Export Finance Program, administered by the Authority under chapter 12, subchapter
  9 of this title; (9) a Vermont Sustainable Energy Loan Fund and any programs created thereunder, administered
  by the Authority under subchapter 13 of this chapter; (10) any other program implemented after the adoption of the sustainable jobs strategy
  pursuant to section 280b of this title designed to meet Vermont’s need for sustainable economic development; (11) a program that would award grants made to eligible and qualified recipients as directed
  by the Agency of Agriculture, Food and Markets or the Agency of Natural Resources
  for the purpose of funding water quality initiatives approved by the agencies, provided
  that the maximum amount of grants awarded by the Authority pursuant to the program
  shall not exceed $1,340,238.00 in the aggregate; or (12) loans to agricultural enterprises or endeavors administered by the Authority under
  chapter 16A of this title and any programs created thereunder. (b) [Repealed.] (Added 1995, No. 46, § 14; amended 2003, No. 122 (Adj. Sess.), § 281, eff. June 10, 2004; 2011, No. 63, § E.800; 2013, No. 87, § 5, eff. June 17, 2013; 2015, No. 39, § 20; 2025, No. 26, § 1, eff. July 1, 2025.)