Important Clarification on Economic Recovery Grant Guidance

ACCD guidance had previously stated that all businesses receiving a Vermont Emergency Economic Recovery Grant must spend the grant money by December 30, 2020. They have now been able to clarify that such businesses do not need to have fully expended these grant funds by December 30, 2020. If businesses need and are able to, they can retain the grant funds for expenses that occur in 2021 and beyond.

IMPORTANT NOTE:  This clarifying guidance only applies to the Vermont Emergency Economic Recovery Grants (click here) issued by the Department of Taxes or the Agency of Commerce and Community Development. A business may have received other federal or state funds with different requirements and should consult guidance for those specific programs to know what those requirements are.

As a reminder, the current grant program is fully subscribed at this time. The Legislature is allocating money to another round of these grants and ACCD will announce details of that program soon.