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Vermont Governor Phil Scott signed an economic development bill Thursday that will reduce employer contributions to the workers compensation fund from 1.75% to 1.4%.
Reducing employer contributions to the workers comp fund was a move to make Vermont more affordable, according to a Thursday statement from the governor’s office.
The bill, S.135, also increases the penalties for violations of the state’s workers comp and Vermont’s Occupational Safety and Health Administration rules.
Many of the provisions in S. 135 went into effect upon its signing, and the rest of the provisions are effective July 1, according to a spokeswoman from Gov. Scott’s office.
Vermont advisory workers compensation rates are set to decrease 7.9% for the voluntary market, effective April 1, according to a statement on Friday from Vermont Gov. Phil Scott.