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COMMITTEE ON BUDGET, APPROPRIATIONS AND FINANCE BILL NO. 35-0371 Thirty-Fifth Legislature of the Virgin Islands September 26, 2024 An Act directing the Virgin Islands Inspector General to conduct an audit of the Virgin Islands Economic Development Authority relating to benefits granted to Jeffrey Epstein and his affiliated companies; making a $75,000 appropriation to conduct the audit and for other related purposes PROPOSED BY: Senator Franklin D. Johnson Be it enacted by the Legislature of the Virgin Islands: 1 SECTION 1. (a) The Virgin Islands Inspector General (“Inspector General”) shall 2 conduct an audit of the Virgin Islands Economic Development Authority (“Authority”) to 3 investigate the following matters: 4 (1) Why did Jeffrey Epstein and his affiliated companies continue to receive 5 economic benefits after his 2008 felony conviction; 6 (2) What investigation, if any, did the Authority conduct after Mr. Epstein’s 7 felony conviction; and 8 (3) What changes did the Authority make regarding extending benefits to 9 company principals who are convicted of felonies. 10 (b) The Inspector General may appoint additional personnel, including a special 11 investigator, to assist with the audit. 12 (c) The Inspector General shall commence the audit not later than 30 days after the 13 enactment date of this act and shall complete and submit the audit report to the Governor of 14 2 the Virgin Islands and the President of the Legislature not later than 12 months after the 1 enactment date of this act. 2 SECTION 2. Not later than five days after receipt of the report, the President of the 3 Legislature shall provide a copy of the audit report to all senators. 4 SECTION 3. Not later than 10 days after the audit report is completed, the Inspector 5 General shall provide a copy of the report to the Attorney General of the Virgin Islands or the 6 United States Attorney, to review and determine whether there have been any violations of 7 local or federal law. 8 SECTION 4. (a) The sum of $75,000 is appropriated in the fiscal year ending September 9 30, 2025, from the General Fund of the Treasury of the Government of the Virgin Islands to 10 the Office of the Virgin Islands Inspector General to conduct the audit authorized in section 1. 11 (b) The sum appropriated in subsection (a) remains available until expended. 12 BILL SUMMARY 13 This bill requires the Virgin Islands Inspector General to conduct an audit of the Virgin 14 Economic Development Authority to investigate matters relating to continued benefits to 15 Jeffrey Epstein after his felony conviction in 2008. The bill also requires that the audit 16 commences not later than 30 days after the enactment and be completed not later than 12 17 months after the enactment. It further provides that a copy of the audit is to be provided to the 18 Governor of the Virgin Islands and the President of the Legislature, and for the President of 19 the Legislature to provide a copy to all senators not later than five days after receipt of the 20 report. The bill further requires the Inspector General to provide a copy of the completed audit, 21 not later than 10 days after completion, to the Attorney General of the Virgin Islands or the 22 U.S. Attorney to review and determine whether there have been any violations of local or 23 federal law and to prosecute any unlawful actions. Finally, the bill appropriates the sum of 24 $75,000 to conduct the audit. 25 BR24-1116/September 23, 2024/LMW 26