Act No. 9108 — An act amending title 29 Virgin Islands Code, chapter 12, subchapter I by adding a new section 713 to limit income tax refunds for economic
ACTNO.9 108 BILL NO. 36-0283 THIRTY-SIXTH LEGISLATURE OF THE VIRGIN ISLANDS Regular Session 2026 An act amending title 29 Virgin Islands Code, chapter 12, subchapter I by adding a new section 713 to limit income tax refunds for economic development program beneficiaries aa-(--- Be it enacted by the Legislature of the Virgin Islands: SECTION 1. Title 29 Virgin Islands Code, chapter 12, subchapter I, is amended by adding the following new section 713c and renumbering the remaining sections accordingly: “§713c. Limitation on income tax refunds for beneficiaries (a) Notwithstanding the provisions of section 713b, and except as provided in subsection (h) of this section, no income tax refund attributable to income subject to benefits authorized by this chapter shall be allowed or paid to a beneficiary certified under an economic development program, unless the cumulative income tax benefits received by such beneficiary under this chapter have been fully offset as provided in this section. …
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