§ 2512. Notice
(a) A business shall notify the agency or department which granted the benefit in writing within 60 days after the business closes or substantially curtails the operation of the trade or business within the qualified period.
(b) A business shall be considered to be substantially curtailed when the average number of full-time equivalent employees in any one calendar year is less than 50 percent of the highest average number of full-time equivalent employees in any prior year in the qualified period.
(c) A business shall not be considered to be substantially curtailed or closed when that business has relocated to another location within the State of Vermont or been sold but is still located within the State, provided that the employment test of subsection (b) of this section is met. (Added 1993, No. 221 (Adj. Sess.), § 10.)
Structure Vermont Statutes
Chapter 47 - Commerce and Community Development
§ 2402. Commerce and Community Development
§ 2421. Appointment and salary
§ 2424. Advisory councils or committees
§ 2425. Transfer of personnel and appropriations
§ 2451. Commissioners—Appointment; term
§ 2453. Permissive duties; approval of Secretary
§ 2471. Department of Economic Development
§ 2471a. The Vermont Business Registry
§ 2471b. Government Marketing Assistance Center
§ 2472. Department of Housing and Community Development
§ 2472a. Historic site markers program
§ 2473. Division for Historic Preservation
§ 2473a. Vermont Life magazine
§ 2474. Administrative Services Division
§ 2475. Vermont Center for Geographic Information
§ 2476. Department of Tourism and Marketing
§ 2477. Rental Housing Advisory Board
§ 2502. Market Vermont Program