Vermont H 707: An act relating to revising the delivery and governance of the Vermont workforce system

Bill Text

BILL AS INTRODUCED H.707
2026 Page 1 of 7

VT LEG #386113 v.1
H.707 1
Introduced by Representatives Kimbell of Woodstock and Branagan of 2
Georgia 3
Referred to Committee on 4
Date: 5
Subject: Professions and occupations; accountants 6
Statement of purpose of bill as introduced: This bill proposes to add a pathway 7
for candidates seeking licensure as a certified public accountant via an 8
additional combination of education and experience to be eligible to take the 9
licensing exam. This bill also proposes to adopt a mobility practice privilege 10
for qualified certified public accountant licensees of other states to practice 11
accountancy in Vermont without obtaining a license in this State. 12
An act relating to certified public accountant licensure 13
It is hereby enacted by the General Assembly of the State of Vermont: 14
Sec. 1. 26 V.S.A. § 13 is amended to read: 15
§ 13. DEFINITIONS 16
As used in this chapter: 17
* * * 18

BILL AS INTRODUCED H.707
2026 Page 2 of 7

VT LEG #386113 v.1
(11) “Principal place of business” means the office location designated 1
by the licensee for the purposes of substantial equivalency mobility and 2
reciprocity. 3
* * * 4
Sec. 2. 26 V.S.A. § 71a is amended to read: 5
§ 71a. LICENSE BY EXAMINATION 6
(a) A license as a “certified public accountant” shall be granted by the 7
Board to any person: 8
(1) who is of good character; 9
(2) who completes any one of the following requirements for education 10
and experience: 11
(A) a post-baccalaureate degree from a college or university 12
recognized by the Board with a concentration in accounting or an equivalent 13
and one year of experience in public accounting, meeting the requirements 14
prescribed by Board rule; 15
(B) 150 or more semester hours of college credit at a college or 16
university recognized by the Board, including a baccalaureate degree and a 17
minimum of 42 semester hours of accounting, auditing, and related subjects as 18
the Board determines to be appropriate, and one year of experience in public 19
accounting, meeting the requirements prescribed by Board rule or other 20

BILL AS INTRODUCED H.707
2026 Page 3 of 7

VT LEG #386113 v.1
experience or employment that the Board in its discretion considers 1
substantially equivalent; and or 2
(C) a baccalaureate degree from a college or university recognized by 3
the Board with a concentration in accounting or an equivalent and two years of 4
experience in public accounting, meeting the requirements prescribed by Board 5
rule; and 6
(3) who has passed the examination required under subsection (b) of this 7
section. 8
(b) The Board shall administer an examination using a nationally 9
recognized uniform certified public accountants’ examination and advisory 10
grading service. 11
(c) An applicant who has not yet completed a baccalaureate degree may sit 12
for the exam upon the completion of 120 semester hours at an institution 13
recognized by the Board, including a minimum of 30 semester hours of 14
accounting, auditing, and related subjects as the Board determines to be 15
appropriate. 16
Sec. 3. 26 V.S.A. § 72b is amended to read: 17
§ 72b. LICENSURE BY ENDORSEMENT 18
Without requiring an examination, the Board shall issue an appropriate 19
license to a public accountant who is licensed or certified under the laws of 20
another state: 21

BILL AS INTRODUCED H.707
2026 Page 4 of 7

VT LEG #386113 v.1
(1) with education, examination, and experience requirements that the 1
Board considers to be substantially equal comparable to those of this State; or 2
(2)(A) upon a showing that the applicant has had five years of 3
experience in the practice of public accountancy or meets equivalent 4
requirements prescribed by the Board by rule within the 10 years immediately 5
preceding the application; and 6
(B) has fulfilled the requirements of continuing education or 7
continuing professional competence programs that would have been applicable 8
under subsection 75(b) of this title. 9
Sec. 4. 26 V.S.A. § 74c is amended to read: 10
§ 74c. SUBSTANTIAL EQUIVALENCY MOBILITY 11
(a) An individual whose principal place of business is not in this State shall 12
be presumed to have qualifications substantially equivalent to this State’s 13
requirements and shall have the privileges of licensure of this State, without 14
the need to obtain a license under section 72b of this title, if the individual: 15
(1) holds a valid license as a certified public accountant from a any state 16
the Board determines has licensure requirements substantially equivalent to the 17
requirements of the AICPA/NASBA Uniform Accountancy Act; or 18
(2) holds a valid license as a certified public accountant from any state, 19
and the individual obtains verification from the NASBA National Qualification 20
Appraisal Service that the individual’s qualifications are substantially 21

BILL AS INTRODUCED H.707
2026 Page 5 of 7

VT LEG #386113 v.1
equivalent to the licensure requirements of the AICPA/NASBA Uniform 1