Vermont will pay you $10K to move there - but there's a catch

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Gov. Phil Scott signed the bill into law on Wednesday.

Work from home and seeking a change in scenery? The money can be spent on qualified expenses such as rental and relocation costs, computer equipment and software, internet access, and co-working space memberships.

Vermont State Senator Michael Sirotkin said the program would work well for employees "wanting to get out of an urban environment into a more rural environment, those who are maybe paid well and don't want to leave their job".

The legislation is an attempt to bolster an aging population in Vermont.

Vermont's population is flat or slightly shrinking.

"This could also help to attract workers here, while still maintaining their positions in cities such as Boston and NY, as well as assist transition issues faced by many trailing spouses", said Ashley Romeo-Boles, the government affairs specialist of Vermont Chamber of Commerce Senate Economic Development, Housing and General Affairs Committee.

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Under the terms of the bill, a new remote worker is eligible for this grant if their expenses do not exceed $5,000 per year.

Another state program, Stay to Stay Weekends, aims to convert tourists into full-time Vermont residents. About 25 remote workers each year will be able to benefit.

Vermont is cutting a sweet deal for remote workers who relocate to the state.

Candidates can begin inserting requests as early as January 1, although it'd take somewhat longer to "get it up and going", stated Mr. Sirotkin, who burdened that legislators have been chose to make the appliance course of easy. The funds are distributed on the basis of first come first served and the state has annual limits for the grants.

In 2020, the program is expected to receive up to $250,000, then $125,000 in 2021.

Current residents aren't eligible. The program will connect visitors with local employers, entrepreneurs, community leaders and potential neighbors, CNBC said.