Act No. 6278 (23rd Legislature) — To authorize emergency borrowing to meet the Government’s payroll obligations; to establish a tax amnesty program; to clarify the set aside
Act No. 6278 (BILL NO. 23-0034) (Approved April 12, 1999) To authorize emergency borrowing to meet the Government’s payroll obligations; to establish a tax amnesty program; to clarify the set aside for income tax refunds; to provide an appropriation for repayment and matching of Community Disaster Loans; and for other related purposes Be it enacted by the Legislature of the Virgin Islands: SECTION 1. (a) The Governor of the Virgin Islands, acting through the Commissioner of Finance, is authorized to borrow, on a temporary basis, an amount not to exceed $35 million during the fiscal year ending September 30, 1999, for the exclusive purpose of meeting the payroll obligations of the Government of the Virgin Islands when the Governor determines that the revenues collected are insufficient to cover any payroll which comes due during such insufficiency. Nothing shall be construed as permitting borrowing for any purpose other than to meet the Government’s payroll obligations. …
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