Act No. 8263 — An Act amending title 29. chapter 22 of the Virgin Islands Code by clarifying existing provisions of the Tax Incremental Financing Program -
/TNU 8263t BILL NO. 33-0143 THIRTY-THIRI LEGISLATURE OF THE VIRGIN ISLANDS Regular Session 2019 An Act amending title 29. chapter 22 of the Virgin Islands Code by clarifying existing provisions of the Tax Incremental Financing Program ---0--- WHEREAS, the Legislature enacted title 29, chapter 22 of the Virgin Islands (‘ode entitled “Tax Increment Financing (TIF)”; WHEREAS, the TIF program did not include provisions addressing economic recovery in the United States Virgin Islands; WHEREAS, the economic base and growth of the United States Virgin Islands was catastrophically impacted when it was hit by two category five hui’ricanes, Irma and Maria, in September 2017, which caused severe damage to the infrastructure of the Virgin Islands; WHEREAS, the damage to the economic sector has had long-term consequences to the People of the Virgin Islands and those visiting the Virgin Islands; WHERE4S the Territory needs to restore all revenue sources, attract investment, and recapture a dominant position in tourism within the Caribbean region: WHEREAS, new tools for attracting, financing, and i …
Download the original document · Browse the archive · How this archive works
Archive identifier LF-4092b8a83bc0