Bill No. 36-0083 - An act establishing a 90-day amnesty period for the waiver of penalties for payment of outstanding property taxes, income taxes, and gross receipt taxes

Collection: Acts & Legislation
Sub-shelf: billtracking.legvi.org
Kind: Legislation
Date: 2025-05-08
Topics: Disaster Recovery
Pages: 2
Text: Native Text
Identifiers: Bill 36-0083

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COMMITTEE ON BUDGET, APPROPRIATIONS AND FINANCE 10/23/2025-AMENDED AND REPORTED OUT TO THE FLOOR 10/07/2025-AMENDED AND REPORTED OUT TO THE COMMITTEE ON RULES AND JUDICIARY BILL NO. 36-0083 Thirty-Sixth Legislature of the Virgin Islands May 8, 2025 An act establishing a 90-day amnesty period for the waiver of penalties for payment of outstanding property taxes, income taxes, and gross receipt taxes for all tax years to assist taxpayers and businesses recovering from the aftermath of Hurricanes Irma and Maria and Tropical Storm Ernesto PROPOSED BY: Senator Kenneth L. Gittens Sponsors: Novelle E. Francis, Jr. and Hubert L. Frederick Co-sponsor: Ray Fonseca Be it enacted by the Legislature of the Virgin Islands: 1 SECTION 1. The Director of the Virgin Islands Bureau of Internal Revenue ("the 2 Director") shall, within 10 days after the effective date of this act, establish a 90-day amnesty 3 period for the waiver of penalties and interest for all tax years, including: (1) penalties and 4 interest on outstanding real property taxes; (2) penalties on payment of outstanding income 5 taxes; and (3) penalties and interest on payment of outstanding gross receipt taxes. 6 SECTION 2. The Director shall waive the penalties and interest on outstanding taxes, 7 as authorized under section 1 of this act, for any taxpayer who voluntarily: (1) files a tax return 8 for each tax year for which an amnesty waiver is requested; and (2) pays the entire balance of 9 the outstanding tax within the 90-day amnesty period. 10 SECTION 3. The Director shall publish information about the tax amnesty established 11 by this act on the Bureau's website, on social media platforms, and in a newspaper of general 12 circulation throughout the territory. 13 2 SECTION 4. Pursuant to the authority granted to the Lieutenant Governor under title 1 33 Virgin Islands Code, chapter 89, section 2494, the Lieutenant Governor shall waive all 2 penalties and interest levied on outstanding real property taxes for a period of 90 days from the 3 date of enactment of this act for taxes paid within the 90-day amnesty period. 4 BILL SUMMARY 5 This bill establishes a 90-day amnesty period during which taxpayers can pay their 6 delinquent income taxes and gross receipt taxes without interest and penalties during a 90-day 7 amnesty period. The bill also requires the Bureau of Internal revenue to publish notice of the 8 amnesty on its website, on social media platforms, and in a newspaper of general circulation. 9 BR25-0377/March 27, 2025/PFA 10 ..\..\..\..\AMENDS\36th Legislature\GITTENS, KENNETH L\Amendment 36- 11 490\Amendment 36-490 (REVISED I) - DRAFTED ON YELLOW.docx 12 ..\..\..\..\AMENDS\36th Legislature\GITTENS, KENNETH L\Amendment 36-490\36-490 13 (REVISED) - DRAFTED ON YELLOW.docx 14