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ACT NO. 131

(H.683)

Vermont Economic Development Authority

This act amends the statutory authority of VEDA in the following manners: it increases the internal loan officer authority for industrial loan approvals from $150,000 to $250,000; it increases the internal loan officer authority for agricultural loans from $120,000 to $150,000 ($200,000 if the loan is guaranteed by the Farm Services Agency); it increases Subchapter 5 loan amount for land and buildings from $500,000 to $800,000; it increases Subchapter 5 loan amount for machinery and equipment from $300,000 to $500,000; and the act also eliminates the sunset on the $50,000 supplemental reserve for the Financial Access Program.

Effective Date: July 1, 2000