Act No. 7839 (31st Legislature) — An Act amending title 33 Virgin Islands Code, chapter 3 relating excise taxes on cigarettes and chapter 3 establishing “The Virgin Islands S
ACTNO. 78306 BILL NO. 31-0023 THIRTY-FIRST LEGISLATURE OF THE VIRGIN ISLANDS Regular Session 2016 An Act amending title 33 Virgin Islands Code, chapter 3 relating excise taxes on cigarettes and chapter 3 establishing “The Virgin Islands Sin Tax Fund” ---0--- Be it enacted by the Legislature of the Virgin Islands: SECTION I. Title 33 Virgin Islands Code, subtitle 1, Part I, chapter 3, section 42, subsection (a) is amended in schedule II (2) by striking “35%” and inserting “45%.” SECTION 2. Title 33, Virgin Islands Code, subtitle 1, chapter 3 is amended by inserting a new appropriately numbered section to read as follows: “§42e. (a) There is established, in the Treasury of the Virgin Islands, a fund known as “The Virgin Islands Sin Tax Revolving Fund.” The Commissioner of Finance shall administer the fund as a separate and distinct fund in the Treasury of the Virgin Islands. Money in the fund is available for expenditure or disbursement only as provided in this section. …
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