Act No. 6508 (24th Legislature)
ACT NO.6508 BILL NO. 24-0047 TWENTY-FOURTH LEGISLATURE OF THE VIRGIN ISLANDS OF THE UNITED STATES Regular Session 2002 To amend ttle 29, chapter 12, section 708 and title 33, chapter 3, section 42, Virgin Islands Code, to require that businesses receiving tax exemptions under the Virgin Islands Economic Development Program or exemption for excises taxes to establish retirement and welfare benefit plans for their employees ---0--- BE 1T ENACTED by the Legislature of the Virgin Islands: SECTION 1. Title 29, chapter 12, section 708, Virgin Islands Code, is amended by adding subsection (q) to read as follows: ‘(q) Establish and maintain an employee pension benefit plan, as provided under the Employee Retirement Income Secunty Act, 29, U.S. C. 1001 ef seg., and an employee welfare benefits plan that includes medical insurance, vacation and sick leave in amounts that are determined by the Board and reported as required by the Employee Retirement Income Security Act, 29, U.S. C. …
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