Act No. 6402
rr ATE a A FY cS) ACT NG.64° & BILL NO. 24-0060 TWENTY-FOURTH LEGISLATURE OF THE VIRGIN ISLANDS OF THE UNITED STATES Regular Session 2001 To amend title 30, section 20, Virgin Islands Code, pertaining to rate investigations ---0--- WHEREAS, Innovative Telephone, formerly know as “Vitelco”, is a subsidiary of ICC and the major supplier of commercial and residential telephone service in the Virgin Islands; and WHEREAS, Innovative Telephone is a utility subject to regulation by the Virgin Islands Public Services Commission hereinafter referred to as (PSC); and WHEREAS, Innovative Telephone has been a monopoly in the Virgin Islands for over 25 years, without sharing its consumer market with any competitors; and WHEREAS, by virtue of its status as a monopoly and utility, Innovative Telephone has realized profits in the millions of dollars over the years; and WHEREAS, very little of Innovative Telephone’s profits are returned to the community by way of industrial development of civic and community services; and WHEREAS, Innovative Telephone has been a beneficiary of the Industrial Developm …
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