Fri, 04/30/2021 - 9:29am katie
Vermont Business Magazine Earlier this week, Vermont Governor Phil Scott signed bill S.60 into law. The new law provides cooperative and community-owned public power utilities with the ability to make minor adjustments to electric rates and provide customers with new, innovative services. The legislation, sponsored by Senator Ann Cummings, is the result of collaboration among electric utilities, state utility regulators, and Vermont legislators.
Prior to the passage of S.60, all electric utility rate adjustments and pilot programs were subject to formal reviews by state utility regulators. Often lengthy and expensive, this review process also presents a hurdle to utility innovation. The new law gives public power utilities the authority to implement rate changes up to 2% each year without undergoing the traditional reviews. It also allows utilities to pilot new services that advance Vermont’s climate requirements without being subject to a formal
GlobalFoundries, the Essex Junction-based semiconductor manufacturer, paid a whopping $36 million power bill last year. "We are an energy hog," acknowledges Greg Rieder, a top.
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Governor proposes $90 million for state capital investment
Department of Economic Development Commissioner Joan Goldstein presented Governor Scott s Capital Investment Grant Proposal to the Senate Economic Development Committee this week. The proposal would allocate $90 million over three years for capital investment grants to businesses and non-profits. Regional Development Corporations and Regional Planning Commissions would identify eligible projects. Twenty-five million dollars would be dedicated to outdoor recreation projects.
Senators expressed concerns about how the Agency of Commerce and Community Development would select projects. Commissioner Goldstein said they would consider ready or near-ready proposals that will leverage other financing, with projects funded in every region. The RDC/RPC inventory of projects is a work in progress, and Commissioner Goldstein said she would provide a list to the committee when it is ready.
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MONTPELIER â Three days after the Democrat-controlled Vermont House of Representatives passed a $10,000 tax exemption for military pensions, but turned down a larger benefit, Democratic Lieutenant Governor Molly Gray has sided with Republican Gov. Phil Scott in an opinion column calling for a full exemption for former service members.
But as the bill containing the $10,000 exemption and a number of tax proposals heads back to the Senate, its odds of emerging with the Houseâs additions intact appear to be slight â at least, this session. Senate leaders say thereâs not enough time left to study the Houseâs proposed additions.