|BILL AS INTRODUCED||2007-2008|
Introduced by Senator Sears of Bennington District and Senator Hartwell of Bennington District
Subject: Economic development; workforce education and training; cash incentives
Statement of purpose: This bill proposes to permit regional development commissions to offer cash incentives for businesses and employers that meet specific criteria.
AN ACT RELATING TO WORKFORCE DEVELOPMENT CASH INCENTIVES
It is hereby enacted by the General Assembly of the State of Vermont:
Sec. 1. 10 V.S.A. § 542 is amended to read:
§ 542. REGIONAL WORKFORCE INVESTMENT BOARDS
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(c) Each regional workforce investment board may:
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(16) In cooperation with the commissioner of labor, offer cash incentives to businesses or employers that agree to employ a Vermont resident who is a recent graduate of a postsecondary institution or accredited training program, or a nonresident who is a recent graduate of a Vermont educational institution. The cash incentives that may be offered to a business or employer are as follows:
(A) A maximum of $8,000.00 for employment of at least two years of an individual who, at the time of hire, had received a degree from a four‑year postsecondary institution within the previous three years.
(B) A maximum of $3,000.00 for employment of at least two years of an individual who, at the time of hire, had graduated with an associate’s degree within the previous three years.
(C) A maximum of $1,000.00 for employment of at least one year of an individual who, at the time of hire, had graduated from a related six‑month training program within the previous 12 months.
(17) Perform such other duties identified by the workforce development council to be necessary or desirable in carrying out the purposes of this chapter.
The Vermont General Assembly
115 State Street