State Codes and Statutes
Statutes > Vermont > Title-10 > Chapter-28 > 671
§ 671. Findings and purpose
(a) The general assembly finds that Vermont small businesses have critical needs for capital to start up, expand and maintain productive and job-producing economic activity in this state, but that such capital needs are not being fully met by traditional private or public sources, especially during the current downturn in Vermont's economy. The general assembly further finds that the small business investment company program of the United States small business administration can assist in meeting the capital needs of Vermont small businesses, but that state incentives are needed to form a small business investment company in a small state such as Vermont as a result of changes in federal regulations.
(b) It is the purpose of this chapter to authorize a Vermont small business investment company, and to provide state incentives so that the company can be eligible for licensure by the federal government, resulting in increased availability of equity capital and loans to Vermont small businesses. By and through such small business investment companies, it is the intention of the general assembly to support an economic policy that encourages investments by the private sector in small businesses that are distributed throughout all geographical regions and economic sectors of Vermont, that promote a sustainable economy based on the efficient use of our natural resources, and that are compatible with environmental and quality of life values important to the citizens of Vermont. (Added 1991, No. 61.)
