(a)There is created a special fund in the State Treasury to be known as the “Vermont Community Broadband Fund.” Expenditures from the Fund shall be made only to implement and effectuate the policies, purposes, and programs established in this chapter. The Fund shall be composed of any monies from time to time appropriated to the Fund by the General Assembly, transferred to the Fund pursuant to subsection 7523(b) of this title, or received from any other source, private or public, subject to the provisions of 32 V.S.A. § 5. Unexpended balances and any earnings shall remain in the Fund for use in accord with the purposes of this chapter.
(b)Authorized expenditures from the Fund include:
(1)grants pursuant to the Broadband Preconstruction Grant Program established in section 8085 of this c
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(a) There is created a special fund in the State Treasury to be known as the “Vermont Community Broadband Fund.” Expenditures from the Fund shall be made only to implement and effectuate the policies, purposes, and programs established in this chapter. The Fund shall be composed of any monies from time to time appropriated to the Fund by the General Assembly, transferred to the Fund pursuant to subsection 7523(b) of this title, or received from any other source, private or public, subject to the provisions of 32 V.S.A. § 5. Unexpended balances and any earnings shall remain in the Fund for use in accord with the purposes of this chapter.
(b) Authorized expenditures from the Fund include:
(1) grants pursuant to the Broadband Preconstruction Grant Program established in section 8085 of this chapter;
(2) grants pursuant to the Broadband Construction Grant Program established in section 8086 of this chapter;
(3) funding for communications workforce training and development, in consultation with the Commissioner of Labor, to the extent such funds are not available from other funding sources;
(4) funding for a comprehensive, statewide fiber-optic engineering design as specified in subdivision 8084(a)(6)(I) of this chapter;
(5) administrative expenses of grant recipients in an amount determined by the Board, subject to applicable federal law and guidance; and
(6) upon approval by the General Assembly, up to $1,500,000.00 annually to fund the operational expenses of the Board and the Department to the extent the Department’s expenses support the work of the Board.
(c) Expenditures from the Fund shall be authorized by the Board. (Added 2021, No. 71, § 2, eff. June 8, 2021; amended 2021, No. 185 (Adj. Sess.), § E.233, eff. July 1, 2022.)