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ease to a > TWENTY-THIRD LEGISLATURE OF THE VIRGIN ISLANDS Territory of the Virgin Islands ~ REGULAR/SPECIAL SESSION 2090 ROLL CALL Bil de. 23 ~ 0282 Date: AKC Z Od Short Title: To amend title 25, chapter 12, Virgin Islands Code relating to Economic Development Commission benefits and for other purposes (Closed Rule) LEGISLATIVE HISTORY (a) Introduced and sent to Committee on.......cccccesesseececcccecceseeceeens Dat... cc cececesececececeeeteete cereus seueaes (b) Reported from Committee and sent to Rules on (C) Reported from Committee on Rules........ccsssccsesesessesesesecscsuesesecsesseesersseesasavassseseesessieiveseeveseeve ,(d) Recalled from Committee by Special Order. (€) Adopted on (£) Rejected O1. secs ceeseeecesessesessesesesssussucsvsucesesessacsvsessesassusasssusinsucsnsucavsneatavessateaaseavaseeveseeses (GZ) Vetoed by Governor On. ......sscscscsesscsssssecsesevsceussssssvsscensuesssavavsnsseessassusavsatesausasavsseseeseaseeesesesven (h) Reconsidered by Legislature and passed or rejected over Govermor’s Veto on Ce en eS eer nina hee ee eee Tee eS TES SS ee Tee e ee SESE eT eee eee eee eee eee ee eee eee ee ee ee ee eee ne Ce ee MEMBERS YEA NAY NOT VOTING ABSENT BENNERSON, Gregory A. / BERRY, Lorraine L. & BRYAN, Adelbert M. / CC" &, Donald “Ducks” fe) avi: Roosevelt St. C. DONASTORG, Adlah “Foncie” GOMEZ, Judy M. GOODWIN, George E. Ne GOLDEN, Violet Anne . ee) HANSEN, Alicia “Chucky” JN. BAPTISTE, Norman OS JONES, David S. . lp LIBURD, Almando “Rocky” lp PETRUS, Allie-Allison ! RICHARDS Varerave A. 9 Certified true ” — / / i COMMITTEE ON FINANCE 12/13/00 - AMENDLD AND<REPORTED OUT TO THE FLOOR ~ 12/11/00 - AMENDED AND REPORTED OUT TO THE COMMITTEE ON RULES 12/01/00 - HELD IN THE COMMITTEE ON FINANCE BILL NO. 33-02%) Twenty-Third Legislature of the Virgin Islands of the United States OCTOBER 5, 2000 To amend title 29, chapter 12, Virgin Islands Code relating to Economic Development Commission benefits and for other related purposes PROPOSED BY: Senators Lorraine L. Berry, Gregory A. Bennerson, Roosevelt St. C. David, Violet Anne Golden, George E. Goodwin, David S. Jones, Allie-Allison Petrus and Vargrave A. Richards BE IT ENACTED by the Legislature of the Virgin Islands: SECTION 1. Title 29, chapter 12, section 708, Virgin Islands Code, is amended in the following instances; Ah ON = (1) Subsection (a) is amended in the following instances; Delete the first sentence and insert in lieu thereof the following: “Invest at least $100,000, exclusive of inventory, in an approved industry or business that the Commission has determined to advance the economic well-being of the mO JIN © Ul ONOaAARWN = Oe 0) re IN O70 ON = 6 © © So OG NON so 0 Virgin Islands and its people. The approved industries or businesses and their established categories shall be: Category I — Rum Production, Milk/Dairy Production, Watch and Jewelry Manufacturing and Assembly; Category II — Product Assembly, Manufacturing (other than Jewelry and Watch Manufacturing and Assembly), Agriculture/Food Processing, Mari culture/Food Processing, Marine Industry, Raw Materials Processing, Hotels/Guesthouses, Transportation and Telecommunications; Category IIA — Service Businesses, not limited to but including, Investment Managers and Advisors, Research and Development, Business and Management Consultants, Software Developers, E- Commerce Businesses, Call Centers, High Tech Businesses, International Public Relations Firms, International Trading and Distribution, and any other businesses serving clients located outside the Virgin Islands. Category III — Regulated Utilities, Banking, Health Care Facilities, Recreation Facilities, and such other industries or businesses as may be deemed appropriate by the Commission. However, any application that qualifies in two categories, under the provisions of this subsection, shall be considered in the highest payment fee and term category for the purposes of this chapter and an applicant may apply in more than one approved industry or business.” SECTION 2. Title 29, chapter 12, section 713a, subsection (b), Virgin Islands Code, is deleted in its entirety and new subsections (b) and (d) is inserted in lieu thereof to read; “(b) Each approved applicant eligible for benefits provided under this section shall be granted benefits as follows and in accordance with Schedule A in this subsection: (1) Category I approved applicants shall be granted 100% benefits for a period of 20 years and after the initial benefit period shall receive a renewal of 100% benefits for a ON OOF WN NO YemE| NO INO) TNO) ST) Se (No) INS) Sey ERR en ay a ee O01 SON = © 0 ONO) dle ON = © 0 period of 10 years if they remain in compliance with all the requirements of this chapter. Category I approved applicants may receive a second renewal of benefits of 100% for 10 years provided that they remain in compliance with all the requirements of this chapter during their initial benefit and first automatic renewal periods. (2) Category II and IIA approved applicants shall be granted 100% benefits for a period of 20 years and after the initial benefit period shall receive a renewal of 75% benefits for a period of 10 years if they remain in compliance with all the requirements of this chapter. Category II and IIA approved applicants may receive a second renewal of benefits of 50% for 10 years provided that they remain in compliance with all the requirements of this chapter during their initial benefit and first automatic renewal periods. (3) Category III approved applicants shall be granted 100% Hears for a period of 20 years and after the initial benefit period shall receive a renewal of 75% benefits for a period of 10 years if they remain in compliance with all the requirements of this chapter. Category III approved applicants may receive a second renewal of benefits of 50% for 10 years provided that they remain in compliance with all the requirements of this chapter during their initial benefit and first automatic renewal periods. SCHEDULE A CATEGORY I CATEGORY II CATEGORY IIA CATEGORY III Initial Benefits 100%-20 YRS 100%-20 YRS 100%-20 YRS 100%-20 YRS 1* Renewal 100%-10 YRS 75%-10 YRS 75%-10 YRS 75%-10 YRS 2™ Renewal 100%-10 YRS 50%-10 YRS 50%-10 YRS 50%-10 YRS (c) An applicant for benefits under this chapter may elect the tax benefits for which to apply under the provisions of 713a, 713b, 713c and 713d of this chapter. & ey) 20 N= 000 NOuUhWODND = ee a a rs OONOO Dd 4 i. t (d) Any existing beneficiary presently participating in the Economic Development Commission on the effective date of this section may apply for an extension of benefits under the new Category structure of the Economic Development Commission established in this section, after public hearing and with the Governor’s approval, to. receive the total number of years that a business in its category would receive under the new legislation. The Commission shall establish procedures for the establishment of this process and advise.existing beneficiaries:accordingly.” -~-. SECTION 3. Title 29, chapter 12, section 715, Virgin Islands Code, is amended as follows: (a) At the end of subsection (a) strike the last word, “herein” and insert in lieu thereof, “in Section 713a”. (b) In subsection (c), between the words “benefits” and “under”, insert the phrase, “to applicants in Categories I, ITA”; (c) Delete subsection (d) SECTION 4. Title 29, chapter 12, section 708, Virgin Islands Code is amended in the following instances: (a) Subsection:(b) amended by deleting in its entirety and ‘inserting in lieu thereof - the following: “(b) In the case of a natural person, be a bona fide resident of the Virgin Islands and a citizen or legal resident of the United States; in the case of a partnership, limited liability company, trust or similar entity, within the meaning of that term under the laws of the Virgin Islands; in the case of a corporation, be either incorporated under the laws of the Virgin Islands or under the laws of the United States, a state, territory, or \ W a er ar Ce oe OAN OM NM N “= O 22 ee a N= OO WAN OA Fk WN = commonwealth thereof, or a foreign country, and be duly registered to conduct business in the Virgin Islands. (b) Subsection (c)(1) is amended by deleting in its entirety and inserting in lieu thereof the following: “(c)(1) In the case of a Virgin Islands corporation, receive income that is covered by section 934 of the Internal Revenue Code of 1986, as amended, as applicable in the - Virgin Islands, and meet the requirements of: any other. applicable federal or local law, any implementation agreement, as amended from time to time, required under federal law, the provisions of this chapter, and any rules or regulations promulgated under such laws of this chapter. (c) Subsection (c)(2) is amended by deleting in its entirety and inserting in lieu thereof the following: (d) Subsection (h) is amended by deleting the language in its entirety and ‘inserting in lieu thereof the following: “(h) Agree in writing to employ or contract, and to. require all contractors retained by him to. employ or subcontract, for services and to. purchase goods, materials and supplies. with and from. those persons, firms and corporations who are residents of the Virgin Islands, or incorporated under the laws of the Virgin Islands, and who. are duly licensed to do business in the Virgin Islands and have been so duly. licensed for one year or more prior to. the initial date of any such employment, contract, subcontract, or purchase. A beneficiary may employ persons who are not Virgin Islands residents at the time of hire provided they relocate to the Virgin Islands at the commencement of employment, and become bona fide residents pursuant to Section 932 (c) of the Internal ONOOAFWND A NOW WM N DD | se se oe a oe a oo Ou £ ON = 6C.O oO No 0 S oom = 6 Oo Revenue Code of 1986. Each applicant shall agree in writing to invite competitive bidding, and require all contractors retained by it to invite competitive bidding for all such services, goods and materials pursuant to the publication requirements of title 31, section 236, of this Code, and to notify each bidder in writing of the name of the successful bidder and amount of its bid. Each applicant shall advise the Economic Development Commission, in writing with a copy to the Commissioner of Licensing and Consumer Affairs when goods and materials are not available under the above-defined Virgin Islands sources and demonstrate in writing of efforts to obtain such services, goods and materials, and to require contractors or subcontractors retained by the applicant to likewise comply with this requirement.” SECTION 5. (a) Title 29, chapter 12, section 705, subsection (b), Virgin Islands Code is amended by inserting the following language after the first sentence: “The expenses of any investigation or any proceeding by the Commission to determine compliance by any beneficiary shall be borne by the beneficiary, provided that the Commission shall employ the services of outside consultants necessitated by the investigation.” (b) Title 29, chapter 12, section 705, Virgin Islands Code is amended by redesignating subsection (h) as (i) and inserting a new subsection (h) as follows: “(h) In addition to the Application Fee and Annual Compliance Fees, the Commission may also assess against an applicant or Beneficiary any extraordinary costs and expenses incurred to process the application or monitor the Beneficiary’s performance of the terms and conditions of its Certificate. The cost and expenses shall not include the salaries of any employees of the Commission, but may include but are not ODNOWOAOWOND i. a limited to the services of outside consultants necessitated by the Application or the Compliance Investigation.” , SECTION | 6. Title 29, chapter 12, Virgin Islands Code is amended by adding a new Section 723 to read: “§ 723. Penalty for Violations (a) The Commission shall promulgate a schedule of fines for violation of any * provision of this chapter and the Beneficiary’s Certificate within 90 days. of the effective . date of this section and submit the schedule of fines. to the Governor for approval. (b) If any Beneficiary shall after notice and the opportunity of a hearing violate ~ any provision of this chapter, any rule or regulation promulgated hereunder, or provision of its Industrial Development Certificate, or shall fail or refuse to perform any duty, requirement or lawful order made by the Commission, such beneficiary shall be fined in accordance with the schedule of fines under subsection (a) of this section. These fines ‘shall be deposited into the Industrial Promotion Fund. In construing and enforcing the provisions of this section, the act, omission, or failure of any officer, agent, or person acting for or employed by any Beneficiary, acting within the scope of employment, shall, ‘in every:case.be deemed to be an act, omission, or failure of:such Beneficiary: (c) The Attorney General ofthe Virgin Islands, at the request of the Commission, shall forthwith bring appropriate action to compel adherence to, or enjoin violations of any lawful orders of the Commission issued pursuant to this chapter, and to recover in the . name of the Government of the Virgin Islands the penalties provided herein.” ' SECTION 7. Title 29, chapter 12, section 704, subsection (c), ‘Virgin Islands Code is amended by deleting it in its entirety and inserting a new subsection (c) to read: ONDADNND DN &@ @ 2a a ae ew HRA OO AhONABt OTDHOAN OD UU fF WN = OC O ph ONOounar oN = “(c) The Commission members shall meet, as soon as practicable, and organize, electing a Chairman, Vice Chairman and such other officers as may be deemed appropriate from among its members at the beginning of each calendar year. Commission members shall serve until their replacements are confirmed by the Legislature.” SECTION 8. Title 3, chapter 1, section 27d, subsection (a), Virgin Islands Code, -is amended .by deleting the words, “Department of .Economic Development and Agriculture” and _ inserting in lieu thereof the words, “Economic. Development Commission”. SECTION 9. Title 29, chapter 12, section 726, Virgin Islands Code, is amended by inserting in the second sentence after the words “purposes, and” the following phrase: “all monies deposited therein, pursuant to Section 705 of this chapter”. SECTION 10. Title 29, chapter 12, section 704, subsection (a), Virgin Islands . Code, is amended in the second sentence by deleting the words “Government Development Bank” and inserting in lieu thereof the words “Industrial Park Development Corporation for administrative purposes only”. , SECTION 11... Title 29, chapter 12, section 708, subsection (c), Virgin Islands Code, is amended by adding an appropriately lettered paragraph to read: “(..). Agree in writing to submit plans for a management training program for approval by the Commission. The plan shall establish a program through which the Beneficiary shall have as managers and officers, residents of the Virgin Islands, as defined in section 703(e) of this chapter. The Commission shall use the Beneficiary’s organizational chart and job descriptions as the sole guide as to whether a Beneficiary’s ON OA PWHN =A N-U NNNNNDN B= Beets ast sa a a oarWONnNHOOaonaoart WN 0 © employee is management or non-management. The Commission shall establish, by regulation, the requirements for management training programs as guidance for all Beneficiaries and the reasonable number of Virgin Islands residents to be employed by each Beneficiary in accordance with the specific normal requirements of the business cycle involved. The Commission shall report annually to the Governor the titles and compensation of all trainees who are placed in management positions by Beneficiaries.” SECTION 12. Title 29, chapter 12, section 704, subsection (e)(2), Virgin Islands Code, is amended by deleting it its entirety and inserting a new subsection (e)(2) to read: “(2) a person who has attended a school in the Virgin Islands for at least six (6) years or is a high school or University of the Virgin Islands graduate and who is registered to vote in the Virgin Islands.” SECTION 13. Title 29, chapter 12, section 713b, subsection (e), Virgin Islands Code, is amended by deleting it its entirety and inserting a new subsection (e) to read: “(e) The provisions of this subsection shall apply only to shareholders, members, partners, grantors, beneficiaries, or other owners who are bona fide residents of the Virgin Islands pursuant to section 932(c) of the Internal Revenue Code of 1986, as amended. Such shareholders, members, partners, grantors, beneficiaries, or other owners shall be entitled to a ninety percent (90%) reduction on income taxes payable with respect to income derived from the dividends or distributions paid to them by the beneficiary and which dividends or distributions are attributable to income derived from the business or industry for which the certificate is granted and income from investments described in section 713d(c)(2).” —_ mt “OO WAN OA PWN = 12 13 14 15 16 17 18 19 20 21 22 23 24 _ps 26 10 1. rn SECTION 14. Title 29, chapter 12, section 708, Virgin Islands Code is amended by adding Section 708a to read; The following fees shall be assessed against each applicant or beneficiary for applications submitted beginning February 1, 2001. Application Fee Annual Compliance Fee Category I $1,000.00 $ 500.00 Category II $1,500.00 $1,500.00 } Category ITA $1,500.00 . $1,500.00 Category II $2,000.00 . $2,500.00 All Application fees and Annual Compliance Fees collected pursuant to the -provisions of this Act shall be deposited into the Industrial Promotion Fund, established pursuant to section 726 of this chapter. Any fee adjustments may be made by the Commission on an annual basis, with the approval of the Governor, and such fee adjustments shall not exceed the Consumer Price Index for that year. | SECTION 15. Title 29, chapter 12, Virgin Islands Code is amended by deleting the words “Industrial Development Commission” wherever it appears and inserting in lieu thereof “Economic Development Commission”. The effective date of this Act is March 1, 2001. SECTION 16. Title 29, chapter 12, section 714d Virgin Islands Code, is deleted in its entirety and a new section 714d is inserted in lieu thereof to read; “714d. If the beneficiary owns and operates more than one enterprise in the Virgin Islands, benefits granted under this chapter shall apply only to those specified in the certificate, provided, however, that the Commission can grant benefits to an affiliated ONOaA PWN 11 group of entities as if it were one entity if the beneficial owners of all entities are identical and if the use of multiple entities is for financing, risk management, liability limitation, or other business purposes.” SECTION 17. (a) Title 29, Virgin Islands Code, is amended by adding a new chapter 17 to read as follows: “Chapter 17. Economic Development Authority Section 1000. Statement of Purpose The purpose of this chapter is to create an umbrella authority to assume, integrate and unify the functions of the Government Development Bank, the Industrial Development Commission, the Industrial Park Development Corporation, the Bureau of Economic Research and the Small Business Development Agency (hereinafter referred to as GDB, IDC, IPDC, and SBDA respectively) under one executive board in order to achieve maximum efficiency of operations, avoid duplication of services, positions and responsibilities, reduce expenses for personnel, physical plant and operations and develop comprehensive programs for the economic development of the Territory by exercising the powers and duties of all four former entities, in conjunction with one another, and in the context of the overall goal of promoting and enhancing the economic development of the Territory. It is the intent of this chapter to allow the subsidiary corporations and entities to maintain distinct identities and to function independently of one another, only to the extent necessary to perform their distinct functions and objectives, but in all other cases to function in an integrated fashion. This legislation shall be liberally construed to achieve those purposes and goals. ON OO Pf WN = 12 Section 1001. Creation (a) To aid the Government in the performance of its duties to develop the economy of the United States Virgin Islands, there is hereby created a body corporate and politic constituting a public corporation and semi-autonomous governmental instrumentality of the Government of the United States Virgin Islands, by the name of the “Virgin Islands Economic Development Authority’, (hereinafter “the Authority’), which shall be governed by a board consisting of seven (7) persons appointed by the Governor, with the advice and consent of the Legislature pursuant to section 1002 of this chapter. (b) The Authority hereby created is and shall be a semi- autonomous governmental instrumentality subject, as provided in Section 11 of the Revised Organic Act, to the general supervision and direction of the Governor, and as provided for herein, to the control of its Governing Board. It is a public corporation having legal existence and personality separate and apart from the Government of the Virgin Islands and the officers controlling it. Further, subject to section 1010 of this title, the debts, obligations contracts, bonds, notes, debentures, receipts, expenditures, accounts, funds, facilities, and property of the Authority shall be deemed to be those of said Authority and not to be those of the Government of the United States Virgin Islands, or any office, bureau, department, agency, commission, municipality, branch, agent, officer, or employee thereof. Section 1002. Governing board and other personnel of the Authority (a) The powers of the Authority shall be exercised by a governing board consisting of the members of the Authority acting as a board. Of the seven members appointed to the Board, three shall not be employees of the Government of the United ON OA APWHND NON NMONM NN NN NAD =| | | | | BS Sree a OnfrWNRFAOHAN ODA FWNH = 8 O 13 States Virgin Islands or the Government of the United States and shall be appointed by the Governor with the advice and consent of the Legislature. Three shall be appointed by the Governor from among the heads of cabinet-level executive departments or agencies or his executive staff, and one shall be appointed from the Board or executive staff of the Government Employee Retirement System, Virgin Islands Port Authority, or the University of the Virgin Islands. Of the non-governmental members, one must be a resident of St. Thomas, one must be a resident of St. John, and one must be a resident of the District of St. Croix. Non-governmental members shall be appointed for terms of three years, provided, however, that the first appointments made pursuant to this subsection shall be of individuals currently appointed to and approved by the Legislature as a member of one of the governing bodies being subsumed by the Authority. Any person appointed to fill a vacancy occurring prior to the expiration of the term for which his predecessor was appointed shall be appointed only for the remainder of such term, provided, however, that each member shall serve until the appointment and confirmation of his successor. Non-government members may be reappointed with the advice and consent of the Legislature and such members may be removed for cause by the Governor. Government members shall serve during the term of their government position at the pleasure of the Governor. No government member shall be paid compensation in addition to his regular government salary by reason of his service on the Governing Board. Non-government members shall be compensated at the rate of $50.00 a day for each day or fraction thereof spent in the work of the Authority. All members shall be entitled to reimbursement for, or per diem in lieu of, necessary travel expenses. ON OAA WN = Nnwv~ NM NM NON YN | | | | | |B Seas a = o) Oo A. oO NM =|=—-© © - ONO. OC AAW nN = CQ © 14 (b) All members of the Board shall be learned in and shall have education, experience or expertise in one or more of the following areas; finance, law, economics, accounting, business, banking, or marketing; provided that at least five separate disciplines must be represented on the Board and that no person who is currently employed by a bank doing business in the Territory may be appointed as a member of the Board. (c) Five members of the Board shall constitute a quorum for the purpose of organizing the Authority and conducting the business thereof and for all other purposes, and all actions shall be taken by a vote of the majority. (d) The Board shall meet and organize as soon as practicable and shall elect a Chairman and Vice-Chairman from among its members, and appoint, subject to the approval of the Governor, a Chief Executive Office (CEO) of the Authority who shall be authorized to attend all meetings of the Board but who shall not be entitled to vote. (e) The Board may appoint such officers, agents, or employees, permanent or temporary, and by contract or otherwise may employ such consulting engineers, superintendents, managers, fiscal, legal and other technical experts, as it may deem necessary, and shall determine their qualifications, duties, tenure and compensation without regard to chapter 25 of title 3. The bylaws of the Authority may provide for the delegation to its Chief Executive Officer or its other officers, agents or employees of such of the powers and duties of the Authority as the Board may deem proper. (f) The CEO shall be appointed by the Board exclusively upon the basis of merit as determined by technical training, skill, experience, and other qualifications best suited to carrying out the purposes of the Authority. The CEO shall be removable by the 15 Governor, or by the Board but only for cause and after notice and an opportunity to be ~ heard, and subject to the approval of the Governor. , , (g) All property, personnel, records, contracts, leases, rights, franchises and unexpended balances of appropriations and funds of the Government Development Bank, the IDC, IPDC and the SBDA, including personnel and funds for personnel on the payroll ~ of the Department of Tourism permanently assigned to one of the enumerated entities, are -- hereby transferred to.:the Authority; provided. that,:any. personnel. so transferred who. are found to be in excess of the personnel required for the efficient administration of the functions of the Authority, may be terminated by the Authority. (h) Any employee of the Government of the United ‘States Virgin Islands transferred to and retained by the Authority pursuant to. subsection (g) of this section shall . be credited by the Authority with the.amount of accumulated and current accrued annual ‘ leave to which he is entitled under local or federal law, as the case may be, and for which leave.such employee has not received lump-sum payment. (i) The Board shall credit employees transferred pursuant to the provisions of subsection (g) of this section with all accumulated sick leave, and shall provide such other benefits equivalent to employees of the Government of the United States Virgin Islands.. | Section 1003. Charter of the Authority. The Charter of the Authority shall be as follows: FIRST: The existence of the Authority shall be perpetual. SECOND: _ The principal office of the Authority shall be at St. Croix, United States Virgin Islands, but the Authority may establish other ON OA PWN Nwv MO NYO NON YD | | | @=@ BS S&S See a a >) Os © N=] CF © ON OC Ch w= C- o 16 offices at other locations necessary or convenient for the transaction of business within or without the United States Virgin Islands. THIRD: The purpose for which the Authority is formed, the business or objectives to be carried out and promoted by it and the powers of the Authority are as follows: (A) To concurrently, independently or jointly exercise the functions of the GDB, IDC, IDPC and SBDA in a unified, comprehensive, efficient and economical manner in order to maximize the effectiveness of each operation in a manner designed to promote, stimulate, foster and ensure the economic development of the Territory. (B) To exercise all such incidental powers as may be necessary or convenient for the purpose of carrying on the herein enumerated business, purposes and objectives. FOURTH: The Authority shall also have and exercise the following powers on behalf of itself or its subsidiary corporations and entities: (A) To adopt, have and use a common seal which shall be judicially noticed and to alter the same from time to time. (B) To acquire real or personal property by grant, gift, purchase, devise or bequest, and to hold, lease, mortgage and otherwise exercise the rights of ownership of such property, and to dispose of such property, including by sale, lease or other ON OO PWN = NO=w NM NO NON NA | =| | =| S| SBS SH ao Oo 1 & ON =o © ON Oo SO hy = © oO 17 disposition of such property to any person, including the Government of the United States Virgin Islands or any agency, instrumentality, commission, authority, or political subdivision of the United States Virgin Islands. (C) To acquire any property in the settlement or reduction of debts previously contracted or in exchange for investments previously made in the course of its business, where such acquisition is necessary to minimize or avoid loss in connection therewith, and to hold such property for such periods as the Board may deem advisable and to exercise the rights of ownership of and to dispose of the same. (D) To charge such fees for its services as the Authority deems appropriate. (E) To sue and be sued. (F) To appoint, employ and contract for the services of officers, agents, employees and professional assistants and to pay such compensation for their services as the Authority may determine. (G) To make, and from time to time modify and repeal, bylaws, rules and regulations, pertaining to itself or any of its subsidiary corporations or entities not inconsistent with law, providing for the internal organization and management of the Authority and its subsidiaries, for the administration of its affairs ONO AWN = N=0 NON NN NA =| = | =| =| =| Ses a = Oo 0 S ON =—26- ©) ON oO) Ol SO N= 0.0 18 and operations, and for putting into effect the powers and purposes of the Authority. (H) To accept grants or loans from, and enter into contracts, leases, agreements, or other transactions with the United States, any agency, instrumentality, commission, authority or other political subdivision thereof, the Government of the United States Virgin Islands or any agency, instrumentality, commission, authority, or political subdivision thereof, and to apply the proceeds of any such grants or loans for any of its corporate purposes; to participate in the programs of the United States or any agency, instrumentality, commission, authority or other political subdivision thereof, and, consistent with this chapter, to do any and all things necessary to secure participation in such programs and the cooperation of such entities in achieving the policies and purposes of this chapter; and to enter into agreements with the Government of the United States Virgin Islands, the United States or any agency, instrumentality, commission, authority or political subdivision thereof. (69) Members of the Board, while acting within the scope of their authority as directors or officers, shall not be subject to any personal or civil liability resulting from the exercise of any of the Authority’s purposes, duties or responsibilities, unless the ONO PWN = Nnmw NM YO NY NY ND | @ | =| |S SBS Sew a = oO 7 bh ON |= 0 OO ON OO OD @D NY = CO ©O 19 conduct of the member is determined by a court of competent jurisdiction to constitute willful wrongdoing or gross negligence. (J) To have complete control over and exclusively exercise all of the powers, duties and obligations previously granted to, or exercised by the governing boards of the GDB, IDC, IDPC, and SBDA Authority. (K) To exercise such other corporate powers, not inconsistent herewith, as are conferred upon corporations by the laws of the United States Virgin Islands and to exercise all its powers within and without the United States Virgin Islands to the same extent as natural persons might or could do. Section 1004. Exemption of Authority from taxes The purpose for which the Authority is created and shall exercise its powers being a public purpose, unless otherwise expressly provided by law, the Authority shall not be required to pay any taxes or assessments on any of the property acquired or to be acquired by it, or on its operations or activities, or on the income derived from any of its operations or activities. Section 1005. Annual report; publication The Authority shall submit to the Governor and Legislature annually, after the close of its fiscal year, a report of the business of the Authority for the preceding fiscal year. Q NM NM NNN NO + =| = = = = FON" OOAN DH F N ie) ~ OO ANA ARAN A 20 $ Section 1006. Written transcripts of proceedings The Authority shall keep recordings or written transcripts of all of its proceedings and such recordings or transcripts shall be considered public documents. Transcripts shall be transcribed no later than 30 days after the date of the proceeding during which they were taken, and copies of such transcription or recordings shall be made available within a reasonable time of any request made by a resident of the territory subject to the ~ right of the Authority to charge a reasonable fee‘for copying or transcription costs. .Section 1007. Competitive bidding (a) All purchases. and contracts for supplies for services, except for personal services, made by the Authority, including contracts for the construction of facilities of the Authority, shall be made after advertisement for bids, sufficiently in advance of . opening bids, for the Authority to secure appropriate notice and. opportunity for “competition. Except that, where the expense estimated to. be necessary in connection ~ ‘with the purchase or the expense estimated to be necessary in connection with the purchase or work does not exceed ten thousand (10,000) dollars the same may be carried out without advertisement for bids. Further, advertisement for bids shall not be required when -- (1) an.emergency requires immediate delivery of the materials, supplies, equipment, or performance of the services; or (2) —srepair parts, accessories, or supplemental equipment or services are required for supplies or service previously furnished or contracted for; or (3) professional, financial, (including financial printing) design/build or other expert services or work are required and the Authority shall deem it in the ON OO FWHN = Now NM NO NYO NY ND =| =| | =| =| 2 Sree a a oO on bh WOW NH =| © © ONO ODA WN = © © 21 best interest of good administration that contracts therefore be made without such advertisement; or (4) prices are noncompetitive because there is only one source of supply or because regulated under law. In such case the purchase of such materials, supplies, or equipment, or procurement of such services, may be made in the open market in the manner usual in commercial practice. In the comparison of bids and the making of awards, due consideration shall be given to such factors (in addition to whether the bidder has complied with the specifications) as the bidders ability to perform work of the kind involved in the contract under consideration; the relative quality and adaptability of materials, supplies, equipment, or services; and the time of delivery or performance offered. The Authority may prescribe rules and regulations for the submission of bids. (b) Any contract, purchase agreement or other instrument of sale accepted by the Authority shall contain an enforceable performance guarantee by the seller. Section 1008. Other assistance of Government of the United States Virgin Islands (a) For the purpose of further aiding the Authority in accomplishing its purpose and goals, any department or agency of the United States Virgin Islands or any political subdivision thereof may, at the request of the Authority and upon such terms, with or without consideration, as the Governor or political subdivision shall determine — (1) dedicate, sell, convey, or lease any of its interest in any property or grant easements, licenses or any rights or privileges therein to the Authority; ON Oa HWND = NON WO NM NM NYO NY NY | | | =| S=@ 2 See uu = © Ol iO NSO 0-0 NO Cle ON = © © De (2) cause services of the character which it is otherwise empowered to render to be furnished to the Authority. (b) Any sale, conveyance, lease or agreement provided for in this section may be made without appraisal, public notices, advertisement or public biding, notwithstanding any other laws to the contrary. Section 1009. Moneys and accounts of Authority (a) All moneys of the Authority shall be deposited in qualified depositories for funds of the Government of the United States Virgin Islands, but they shall be kept in separate accounts in the name of the Authority. The disbursements shall be made by it pursuant to regulations and budgets approved by the Board. (b) The Authority shall account to the Government of the United States Virgin Islands in accordance with applicable law for all funds, which the Government may furnish to the Authority, by loan or grant. The Authority shall also account to any Federal agency, if and in the manner required, for any funds that it may have received from any such agency. (c) The Authority shall establish an accounting system for the proper statistical control and record of all expenses and income belonging to or managed or controlled by the Authority. Subject to agreements with bondholders, said system shall segregate the accounts for water and power functions, make a reasonable allocation of costs that may be common to both functions, and insofar as advisable, otherwise segregate the accounts for different classes of operations, facilities, and activities of the Authority; provided, that from time to time the Authority shall have its accounts and books, including its receipts, disbursements, contracts, leases, sinking funds, investments ON OOaAAWN = NM=U0 NM NO NM NY ND =| | = | S| |S Be a Oo 0 fb WIN =. 6 © 40 Ne oO -O1 a O N =O OO 23 and any other matters which relate to its financial condition examined by an independent accountant who shall report thereon to the Board of the Authority and to the Governor and Legislature. Section 1010. Financial assistance; guarantees and purchases of binds of Authority; loans and grants (a) For the purpose of assisting the Authority with its financing, the Government of the United States Virgin Islands, to the extent permitted by the Revised Organic Act of 1954, as amended, or any other applicable Federal law, may — (1) guarantee payment of the bonds of the Authority, both as to principal and interest; (2) employ its funds in the purchase of the bonds of the Authority, notwithstanding any provision of any law to the contrary. (b) For the purpose of raising funds to be granted or loaned to the Authority to construct, improve, extend, better, repair, reconstruct, acquire and equip any capital project or other authorized function of the Authority, the Government of the United States Virgin Islands may — (1) borrow money, make and issue bonds or other evidence of indebtedness, and secure such bonds or other obligations by pledge of the Government’s credit and taxing power, as provided for in section 8 of the Revised. Organic Act of 1954 as amended; (2) make or issue bonds for the purpose of funding, refunding, purchasing, paying, or discharging any of the outstanding bonds or obligations issued, granted or assumed by it in pursuance of this section. ONOOAARWND =A RO} deen (NO) (poy (RO) a) IN) ER eRe ee NE a OoahrhWNDNYEOOAN OA AF WN = OO O 24 Section 1011. Injunctions An injunction shall not be granted to prevent the application of this chapter or any part thereof. Section 1012. Lack of jurisdiction of other agencies No officer, board, commission, department or other agency or political subdivision of the United States Virgin Islands shall have jurisdiction over the Authority in the management and control of its properties and facilities, or any power over the regulation of rates, fees, rentals and other charges to be fixed, revised and collected by the Authority, or any power to require any certificate of convenience or necessity, license, consent, or other authorization in order that the Authority may acquire, lease, own, operate, construct, maintain, improve, extend or enlarge any facility Section 1013. Applicability of other laws Nothing in this chapter shall be construed as exempting the Authority from any law made specifically applicable thereto or generally applicable to independent instrumentalities of the Government of the United States Virgin Islands, whether such law was enacted before, on or after the creation of the Authority or any of its subsidiaries. Section 1014. Separability of provisions If any provisions of this chapter or the application of such provisions to any person or circumstance shall be held invalid, the remainder of the chapter and the application of such provisions to persons or circumstances other than those as to which it shall have been held invalid shall not be affected thereby. ON OWAOND = DNND NH @= ew a eo ew oe Kd Oo hOWwWwN" OO WAN OMA WBNDND = CO O N ce) 25 Section 1015. Establishment of committees and subcommittees (a) | The Board of Directors of the Authority shall conduct-the business. of its subsidiary entities by establishing a committee for IDC and IDPC functions and a committee for GDB and SBDA functions. Each committee shall consist of five members of the Board of Directors and shall meet on a regular basis to. investigate, hear, review, discuss and examine matters within its respective areas of responsibility and make * -recommendations.to. the: Board concerning such areas. : Each committee may also act with such authority as is delegated to it by the Board to determine matters concerning | personnel, hiring, discipline and discharge and such other administrative matters as may be expressly set forth by the Board; provided that any matter regarding the policy or the granting, denial, suspension, revocation or alteration of benefits, loans, financing or other substantive functions of the several subsidiary entities must be decided or notified by. the Board at a duly convened and recorded meeting. (b) The Board may establish such other committees and subcommittees as it determines necessary or convenient for the performance of its duties and functions. (c) All contracts entered into. by the GDB, SBDA, IDC, or IPDC are hereby transferred to. the Economic Development Authority and-shall be enforceable by or against the Authority to the same extent it could have. been enforced by or against the predecessor in intent. © (d) The Governing Boards of GDB, IDC, IPDC and SBDA and the positions of Chief Executive Officer, Chief Financial Officer or Executive Director are abolished effective March 1, 2001. B. Redesignation of Entities ON OOAWN = a HoanON=A CHO ANDOU DOWN 30 © N o)) 26 ‘ f SECTION 18. Section 12 of Act 6090 transferring the Industrial Development Commission (IDC) to the Government Development Bank (GDB) is hereby amended by ° deleting the words, “Government Development Bank” and insert in lieu thereof the words, “The Virgin Islands Economic Development Authority’. Further, title 11, section 1253.in subsections (a), (b), (c), (d), (d)(1), and (d)(2) as follows: (a) In order to carry out the policies of this chapter there is created a subsidiary entity under the name of “Virgin Islands Small Business. Development Agency” (herein referred to as the Agency) within, and wholly administered and operated by the Economic Development Authority. (b) The management of the Agency shall be vested in the Chief Executive Officer of the Authority. _(c) The Small Business Development and Loan Fund as provided for in chapter 111. of title 33 of this code shall be available for the Agency’s use in financing “the functions performed under section 1255. of this chapter. Ali repayments of loans, payments of interest, and other receipts arising out of transactions financed from the Fund — shall be paid into the Fund. Not to exceed an aggregate of $15,000,000 shall be outstanding at any one-time for the purposes enumerated in section 1255 of this chapter. (d) There is created the Loan Policy Board of the Virgin Islands Small Business Development Agency, which shall consist of seven members. _ (1) The Commissioners of Tourism and Finance, and the Chief Executive Officer of the Agency, who shall be executive secretary of the Board, shall serve as members of the Board. The remaining four members of the Board shall be appointed by the Governor from the members of the ON OO &FWHN = Zi Authority’s Board of Directors. The Governor shall select such members who are known to be familiar with and sympathetic to small businesses’ needs and problems and who meet the conditions of paragraph (3) of subsection (a) of section 1252 of this chapter. (2) The appointed members of the Board shall be appointed for a term concurrent to their appointment to the Board of Directors of the Authority. SECTION 19. Title 29, section 541, Virgin Islands Code is amended in subsection (a) by deleting the words, “Director of the Small Business Development Agency” and insert in lieu thereof the words, “Chairman of the Economic Development Authority”. SECTION 20. Title 29, section 704, subsections (a) and (b), Virgin Islands Code, are hereby deleted in their entirety and new subsections (a) and (b) shall be inserted in lieu thereof to read: “(a) There is created a Virgin Islands Industrial Development Commission. Such Commission shall be within, and shall constitute a subsidiary entity wholly administered and operated by the Economic Development Authority established in Chapter 19 of Title 29 V.LC. (b) The Commission shall be composed of the members of the Economic Development Authority established in Chapter 19 of Title 29 Virgin Islands Code.” ONOaA PWN = INS SIND UND INDE IND IN eek ek Ooa»rrWNH HZ OOHOON OA F AN = OO O 28 SECTION 21. Title 29, section 706, subsections (a) and (b), Virgin Islands Code, are hereby repealed and new subsections (a) and (b) shall be inserted in lieu thereof to read: “(a) The Governor may appoint an Assistant Chief Executive Officer of the V.I. Economic Development Authority for Industrial Development, which Assistant Chief Executive Officer shall assist the Chief Executive Officer in overseeing the operations of the Industrial Development Program established by this chapter. Said Assistant Chief Executive Officer shall perform such services as directed by the Chief Executive Officer and shall receive such salary as may be recommended by the Commission and approved by the Governor. (b) The Assistant Chief Executive Officer shall perform such duties with respect to the Industrial Development Program or Industrial Park Development as assigned by the Chief Executive Officer.” SECTION 22. Title 29, section 707, Virgin Islands Code, is amended by deleting the word “Director” and inserting the words “Chief Executive Officer or at his direction, the Assistant Chief Executive Officer” in lieu thereof after the first “The” in the first sentence, and by adding new subsections as follows: “(i) to hire and remove employees of the Commission and Corporation subject to the approval of the Board of Directors of the Economic Development Authority; (j) to be responsible for the general administration of the Commission and Corporation; ONO FWHN = OY Seno) (NOyo INS) [e) IN) IN) SSNS eS Re Nt © 01h WN =|—— 0 -O ON ©) Or Sb OLN = 6-O6 29. (k) To collect and assemble, or cause to be collected and assembled, information pertinent to carrying out the purposes of the Corporation in providing industrial plants, equipment and facilities for the encouragement of new trade, industry and commerce and the expansion of existing trade, industry and commerce within the Territory.” SECTION 23. Title 29, section 803, Virgin Islands Code is hereby amended by deleting subsection (b) and by inserting new subsection (b) in lieu thereof to read as follows: “(b) “Chief Executive Officer” means the Chief Executive Officer of the Virgin Islands Economic Development Authority.” SECTION 24. Title 29, section 810, Virgin Islands Code is amended by deleting the existing text in its entirety and inserting new language to read as follows: “(a) There is hereby created the Virgin Islands Industrial Park Development Corporation, (hereinafter referred to as “the Corporation’’), as a discrete and intrical part of the Economic Development Authority established in chapter 19 of title 29, Virgin Islands Code. (b) The Corporation is hereby created as a body corporate and politic, constituting a public corporation and instrumentality as a subsidiary entity of, subordinate in administration and operation to the Virgin Islands Economic Development Authority. Its debts, obligations, contracts, bonds, receipts, expenditures, funds, accounts, projects and property shall be dues of the Corporation and not those of the Government of the United States Virgin Islands or any office, bureau, department, commission, officer, agent or employee ON OOF WN = Noam NM NM NO NM NH | = Se se Se eRe hl ©) “Ole Bs WN = -O--O MONO) Ole. WN) = OO 30 thereof.” SECTION 25. Title 29, section 812, Virgin Islands Code is amended by deleting subsections (a) through (f) and by inserting a new subsection (a) in lieu thereof to read as follows: “(a) | The powers of the Corporation shall be exercised by the Governing Board of the Virgin Islands Economic Development Authority which shall also constitute the Governing Board of the Corporation.” SECTION 26. Title 29, section 814, Virgin Islands Code, is amended by deleting its text in its entirety and inserting the following in lieu thereof: “The Chief Executive Officer, appointed pursuant to section 1002 of title 29, Virgin Islands Code, shall act as the Executive Director for the corporation and shall have such powers and duties as set forth in section 707 of this title as may be applicable to the Corporation subject to the direction and control of the Board. The Chief Executive Officer may delegate such duties as he sees fit to the Assistant Chief Executive Officer.” SECTION 27. (a) Title 29, section 827, Virgin Islands Code, is amended as follows: 1. Designate the existing language as subsection “(b)” and insert a new subsection “(a)” to read: “(a) The employees of the Corporation shall also be employees of the Commission and shall perform such tasks as may be assigned by the Chief Executive Officer or Assistant Executive Officer. All employees of the ON OA FAWN = NmO NON NYO NN YN |= =| S| =| SB SBS Seo uu = O-O- ff OW N-—-O- O20 -N © O- bh @ N= ©-©O Sil Corporation shall be in the “exempt service” and shall serve at the pleasure of the Commission.” 2. In the newly relettered subsection “(b)”: (A) delete the words “officials and” after the word “all” in the first sentence and at the beginning of the line; and insert the phrase “to the same extent as other exempt employees of the government” after the word “insurance” and before the period (.) in the fourth line. SECTION 28. Title 29, section 901, Virgin Islands Code is hereby deleted, in its place a new Section 901 shall be inserted to read as follows: “901. Creation (a) To aid the Insular Government in the performance of is duties to develop the economy of the United States Virgin Islands, there is hereby created, as a discrete and intrical part of the Economic Development Authority established in chapter 19 of title 29 Virgin Islands Code, “The Government Development Bank for the United States Virgin Islands” (hereinafter referred to as “the Bank’’). (b) The Bank is hereby created as a public corporation and governmental instrumentality as a subsidiary entity of, subordinate in administration and operation to the V.I. Economic Development Authority.” SECTION 29. Title 29, section 902, Virgin Islands Code is hereby amended by deleting the “Fifth” part in its entirety and by inserting in lieu thereof a new fifth part to read as follows: FIFTH: The affairs of the Bank shall be managed and its corporate powers exercised by the Governing Board of the Economic Development ON OOAPAWN = NawO NNNNN SFtetreaA se ase a a OonrWOoNZFOODTAN OA FWNH = OC O 32 Authority.” SECTION 30. Title 33, section 3031, Virgin Islands Code is amended as follows: (a) In subsection (b) delete the words “Government Development Bank” and insert in lieu thereof the words, “Economic Development Authority’. (b) In subsection (c), delete the words “Government Development Bank” and insert in lieu thereof the words “Economic Development Authority, through its duly authorized and designated representative,” SECTION 31. Title 33, section 3089, Virgin Islands Code is amended by deleting the words “Government Development Bank” where they appear and by inserting the words “Economic Development Authority’. SECTION 32. Notwithstanding any other law to the contrary, any entity currently receiving Industrial Development Commission (IDC) incentives or benefits, which include reductions or credits in tax obligations, may have these benefits extended by three years upon their agreement to pay all income, excise, and gross receipt taxes and other duties and fees for tax years 2000 and 2001, that they would ordinarily pay but for the IDC benefits. Said extension shall be subject to the entity electing to do so in writing to the Industrial Development Commission within 30 days following the approval of this bill and to proof of payment satisfactory to the IDC being presented within 30 days of the close of each applicable tax period as identified and defined by the IDC. The IDC shall, within 60 days of approval of this bill, issue written guidance to the entities that chose to take advantage of the foregoing. ON OOF WN = SECTION 33. (a) There is appropriated from any funds available in the General Fund of the Government of the Virgin Islands the sum of $30,000 to the Landmark Society on St. Croix as a contribution to the Heritage Trail for the fiscal year ending September 30, 2001. (b) There is appropriated from any funds available in the General Fund of the Government of the Virgin Islands the sum of $10,000 to the Department of Housing Parks and Recreation for the Virgin Islands Basketball Association for the purpose of attending the National Basketball Tournament for the fiscal year ending September 30, 2001. BROO-1414a / August 18, 2000 / vs / LoAVO rode Wend Of BM Mes wHXtL, Ove? H3 ah TWENTY-FOURTH LEGISLATURE OF THE VIRGIN ISLANDS Bill No. AB OK ‘ ts Short Title: Territory of the Virgin Islands REGULAR/SPECIAL SESSION 200 ROLL CALL Date: Sys (a) Introduced and sent to Committee on (b) Reported from Committee and sent to Rules on (c) Reported from Committee on Rules (d) Recalled from Committee by Special Order (€) Adopted OM... ceeccccsessssesssenessesessesssssssssssesssssssansavsusatsaseisaseasessesseatesteseeteeteceec RT ee recta Sanne cee ae case everecemaonnacene, (2) Vetoed by Govenntor tt ssisss cassicsts:ninonedesancvsenvanennnsovsopesviensenanhstvercvesveesevevveestieiesces..-céve..es: . LEGISLATIVE HISTORY (h) Reconsidered by Legislature and passed or rejected OURS OVOMIIES WES Other stances Severs tact unin ath acbieentasitaeiFacmiaidaaeeSegdectantueestvns. 0.2,” MEMBERS = > Zz > 1S NOT VOTING ABSENT _ ! BERRY, Lorraine L. es BRYAN, Adelbert M. CANTON Jr., Douglas E. COLE, Donald “Ducks” DAVID, Roosevelt St. C. DONASTORG, Adlah “Foncie” DOWE, Carlton HANSEN, alee a HANSEN II, Gamelt QO PYORQWIRSS JN. BAPTISTE, Norman S JONES, David S. WN LIBURD, Almando “Rocky” Lk PICKARD-SAMUEL, Norma £>, RICHARDS, Vargrave A LY. WHITE Sr., Celestino A. 2. itttep eh Lo ue tee Cyectea- all? hb yf, Bill No. 4 3-0n GF Z- data ron - c Territory of the Virgin Islands ROLL CALL Short Title: (iA Ob, AU Ge ENTY-FOURTH LEGISLATURE OF THE VIRGIN ISLANDS REGULAR/SPECIAL SESSION 200 Date: MZ. WV {Ylb/ (a) ‘Introduced and sent to Committee on (b) Reported from Committee and sent to Rules on (c) Reported from Committee on Rules (d) LEGISLATIVE HISTORY GE), « PSII scence sce yaicepachh over etiilbrielaterlonmertcaes cn” -ncds ho <-e-ce, GE) Ridjristed oman shea gusapc slide saad lana oxniloinanieesasowvanaouncxecanooaiseswdnisiasiieisesen oe, cscosce (g) (h) Reconsidered by Legislature and passed or rejected over Governor’s Veto on NOT VOTING ABSENT | BERRY, Lorraine L. Rm BRYAN, Adelbert M. CANTON Jr., Douglas E. COLE, Donald “Ducks” DAVID, Roosevelt St. C. DONASTORG, Adlah “Foncie” DOWE, Carlton HANSEN, Alicia “Chucky” HANSEN II, Emmett JN. BAPTISTE, Norman JONES, David S. LIBURD, Almando “Rocky” PICKARD-SAMUEL, Norma RICHARDS, Vargrave A. WHITE Sr., Celestino A. Act: 634° Ube (a) To aid the Government in the performance of its duties to develop the economy of the United States Virgin Islands, there is hereby created a body corporate and politic constituting a public corporation and semi-autonomous instrumentality of the Government of the United States Virgin Islands, by the name of the “Virgin Islands Economic Development Authority’, (hereinafter “the Authority’), which shall be governed by a board consisting of seven (7) persons appointed by the Governor, withthe advice and-censentofthe Legislature pursuant to section’ 1002 of this chapter. §1001. Creation, (b) The Authority hereby created is and shall be a semi-autonomous governmental instrumentality subject, as provided in Section 11 of the Revised Organic Act, to the general supervision and direction of the Governor, and as provided for herein, to the control of its Governing Board. It is a public corporation having legal existence and personality separate and apart from the Government of the Virgin Islands and the officers controlling it. Further, subject to section 1010 of this title, the debts, obligations contracts, bonds, notes, debentures, receipts, expenditures, accounts, funds, facilities, and property of the Authority shall be deemed to be those of the Authority and not to be those of the Government of the United States Virgin Islands, or any office, bureau, department, agency, commission, municipality, branch, agent, officer, or employee thereof. §1002. Governing board and other personnel of the Authority (a) The powers of the Authority shall be exercised by a governing board consisting of the members of the Authority acting as a board. Of the seven members appointed to the Board, three shall not be employees of the Government of the United States Virgin Islands or the Government of the United States and shall be appointed by the-Governor. with the advice and.consent of the Legislature. Three shall be appointed by the Governor from among the heads of cabinet-level executive departments or agencies or his executive staff, and one shall be appointed from the Board or executive staff of the Government Employee Retirement System, Virgin Islands Port Authority, or the University of the Virgin Islands. Of the non-governmental members, one must be a resident of St. Thomas, one must be a-resident of St. John, and one must be a resident of the District of St. Croix. Non-governmental members shall be appointed for terms of three years, provided, however, that the first appointments made pursuant ‘to this subsection shall be of individuals currently appointed to and approved by the Legislature as a member of one of the governing bodies being subsumed by the Authority. Any person appointed to fill a vacancy occurring prior to the expiration of the term for which his predecessor was appointed shall be appointed only for the remainder of such term, provided, however, that each member shall serve until the appointment and confirmation of his successor. Non-government members may be reappointed with the advice and consent of the Legislature and such members may be removed for cause by the Governor. Government members shall serve during the term of their government position at the pleasure of the Governor. No government member, by reason of his service on the Governing Board, shall be paid compensation in addition to his regular government salary. Non-government members shall be compensated at the rate of $50.00 a day for ACT (52-0 Hedie~ (a) The Commission shall promulgate a schedule of fines for violation of any provision of this chapter and the Beneficiary’s Certificate within 90 days of the effective date of this section and submit the schedule of fines to the Governor for approval. (b) If any Beneficiary shall violate any provision of this chapter, any tule or regulation promulgated hereunder, or provision of its Industrial Development Certificate, or shall fail or refuse to perform any duty, requirement or lawful order made by the Commission, such beneficiary, after notice and the opportunity of a hearing, shall be fined in accordance with the schedule of fines under subsection (a) of this section. These fines shall be deposited into the Industrial Promotion Fund. In construing and enforcing the provisions of this section, the act, omission, or failure of any officer, agent, or person acting for or employed by any Beneficiary, acting within the scope of employment, shall, in every case be deemed to be an act, omission, or failure of such Beneficiary. (c) The Attorney General of the Virgin Islands, at the request of the Commission, shall forthwith bring appropriate action to compel adherence to, or enjoin violations of any lawful orders of the Commission issued pursuant to this chapter, and to recover in the name of the Government of the Virgin Islands the penalties provided herein.” SECTION 7. Title 29, chapter 12, section 704, subsection (c), Virgin Islands Code, is amended by deleting it in its entirety and inserting a new subsection (c) to read: “(c) The Commission members shall meet, as soon as practicable, and organize, electing a Chairman, Vice Chairman and such other officers as may be deemed appropriate from among its members at the beginning of each calendar year. Commisstorrenibe;rs shattservetmtit their TEeplracements are CO : ahs Leeisiatire. SECTION 8. Title 3, chapter 1, section 27d, subsection (a), Virgin Islands Code, is amended. by deleting the words, “Department of Economic Development and Agriculture” and inserting in lieu thereof the words, “Economic Development Commission”. SECTION 9. Title 29, chapter 12, section 726, Virgin Islands Code, is amended by inserting in the second sentence after the words “purposes, and” the following phrase: “all monies deposited therein, pursuant to section 705 of this chapter”. QCRnaoTianrn ttlo phasntos petias 33 eaatinn i704 SREELON-10-—Fitle 29-ehapter 12, section 704, gubseetion {a}, Virgin isiands . 8 : “ Code_is—amended—in_thesecond—sentence—by—dele e—werds—“Gevernment Development Bank” and inserting in-tieu thereof the words-“Industrial Park Development SECTION 11. Title 29, chapter 12, section 708, subseetion-feL. Virgin Islands Code, is amended by adding an appropriately lettered paragraph to read: a: the Bill No. a is ag Os Ve me Territory of the Virgin Islands REGULAR/SPECIAL SESSION 200. __ ROLL CALL Date: Short Title: “fofb/ nipple G84) uate Ses Socordecl YU TWENTY-FOURTH LEGISLATURE OF THE VIRGIN ISLANDS (a) Introduced and sent to Committee on...... (b) (c) (d) (e) MISS SCS 1S Sea a eee Cn ATS (g) (h) Reported from Committee and sent to Rules on Reported from Committee on Rules.......... er eee oe eae eens ee ed ed LEGISLATIVE HISTORY Reconsidered by Legislature and passed or rejected SEE OS BAIS VCO ON hava usera uislecmsusien meen saw thaisandecsclencdnads dujaseanbaaconcswo tae nian eeeaedicac, MEMBERS > 5 K NOT VOTING ABSENT |! BERRY, Lorraine L. Nhe = BRYAN, Adelbert M. QikaH CANTON Jr., Douglas E. COLE, Donald “Ducks” DAVID, Roosevelt St. C. DONASTORG, Adlah “Foncie” DOWE, Carlton HANSEN, Alicia “Chucky” HANSEN IL, Emmett - i) JN. BAPTISTE, Norman / JONES, David S. LIBURD, Almando “Rocky” PICKARD-SAMUEL, Norma RICHARDS, Vargrave A. fi WHITE Sr., Celestino A. 1, ; lp, 2 ‘ata. Bye thfoe CLERK ~~ Ua? DO fdiig ont of Mores oe De CON 23 YY piitlice ts LEGISLATURE OF THE VIRGIN ISLANDS Territory of the Virgin Islands inne, LO -QAER REGULAR/SPECIAL SESSION 200 ROLL CALL Short Tithe’ ~ Date: “ftb) (a) Introduced ANG SEN 16 COMICS OF, ..<ncsnnansnanninvnceetavevaxvndons Date (b) Reported from Committee and sent to Rules on (c) Reported from Committee on Rules (d) Recalled from Committee by Special Order LEGISLATIVE HISTORY CO) Pitlepp ies ites snernitacssiov assess rinstinasnaxneeunn nenomconvrlamnonossiidounnendnevsciersusespaiatiieiencscieecossscops...., A RN et edacsrcnmsts inva em retarted mst aaarpaebaspihiibcesleneerc... CR) WE iy et tenn nccsr eve onsyagaaselegvaess wish panhanaarononaeadmmenesserexeecag etosarnes : (h) Reconsidered by Legislature and passed or rejected CE OTA 0 coed enceanorcrrecseoncdeosarenemnaciyer disney rman cel Oa ig: Rein 2) er escpeilba eee MEMBERS S > NOT VOTING ABSENT BERRY, Lorraine L. we BRYAN, Adelbert M. CANTON Jr., Douglas E. COLE, Donald “Ducks” DAVID, Roosevelt St. C. RY PS DONASTORG, Adlah “Foncie” DOWE, Carlton J HANSEN, Alicia “Chucky” HANSEN II, Emmett JN. BAPTISTE, Norman JONES, David S. LIBURD, Almando “Rocky” PICKARD-SAMUEL, Norma RICHARDS, Vargrave A. WHITE Sr., Celestino A. / “Uf rtified t CLERK Al Io? G2 3 r/~ \ ALAS O-i> Dehban Ct pat HO tt prt ) ie ae (e)-(Parimutual Gamine and-Simuleastine Amendments) Title 39, aed SO Paar at I-D cr “ £O ry mp ‘aa -months after-purchase.” tt4 On aVad=* = ba (RB MmMancasc cits O19 2) period atthe end-of thereof: «cp On ad a -parmutueltake.” hr the captor tothe Section, add the phrase“and-dispesitien-efpeels” after tI e sword “Simulcastin 3”, uv Sore “c 33 thatthe -parimutu Pe oie sending jurisdiction and the-pertion thereof paidto the- Government of the Virein_tIslands TO PpTU Uli v J} “f LOU aa cept_that-when_the sendina-jurisdiction-or the hest-track-is-i-the- Commonwealth of an 1 v= rt 35 a¥-mVataa vate 4 ee sve min ae Pu sre ttth Ht TU Crics tS Ae _chall-be-the-seme-as-in-the-sending jurisdiction-minus-host track fees,-if-cuch fees exist Eee ate LIQ O-U Breas Sie ‘cake’ aval AIIIT 033 =v= oy ava ct =a abe _Commission-for-deposit inte the Horse Racing Improvement Pund-established-pursuant-to 073 OAS ho O33 nas 4 ava! a= Ho a= January2,-2000,” “FL, &. 39 ats ned on ry one arama ot tiitochs aH alavaiss aY= 602 and at= a maes Hye car, Oth neg =F" =a ave ave Ast er or. torts Oper oe AQ? os Sopoo == = lataak an ate v= fe= ha ava’ =Ta ng 2 -Commission-byJanuary10" andtuly-10" of each-year-for-depesitia the Horse Racing Improvement Fund.” ofr ve CTIToS at = aber alas OF () abana Ba) ath aVe 375 Ane <e OU 27 =~ ava Ho Prertctees OT) £) ches 6434 7am. ana Of ave atata TI-o ala do U AL, aa¥-+eval-Sa Chili ay ape wo crest as ava a¥= aatat etn nat it 4 39 eres IU Soto abaia O90 er == One a= oud ae aici Sra noome ae ee: Oe reise OO as 2e. Oey san J uJ s at hase ave ‘on ala’ co ave nd rc ae 7 2 teeter et co ) Tue Unrrep STATES VIRGIN ISLANDS OFFICE OF THE GOVERNOR GOVERNMENT HOUSE Charlotte Amalie, V.I. 00802 340-774-0001 February 1, 2001 Honorable Almando “Rocky” Liburd ?resident 4" Legislature of the Virgin Islands Charlotte Amalie St. Thomas, U.S. Virgin Islands 00802 Dear President Liburd: I have signed into law Bill No. 23-0306 “The Fiscal Year 2001 Omnibus Authorization Act” with the exception of the following items, part or parts, portion or portions thereof, which are hereby objected and attached to Bill No. 23-0306 as “The Governor’s Objections” (and deleted and disapproved in full) pursuant to Section 9(d) of the Revised Organic Act of 1954, as amended. Bill No. 23-0306 is part of a 34 bill package passed by the 23" Legislature in its final session. This bill is a part of the Herculean effort undertaken in order to put an executive budget into place and to enact numerous far-reaching and substantive pieces of legislation comprised of both economic initiatives as well as technical amendments to many antiquated commercial and business oriented provisions in the law. Bill No. 23-0306, consisting of 177 pages, passed during the final session of the 23° Legislature on December 21, 2000, along with 32 other bills. It contains many unrelated and some far-reaching provisions. Some sections are designed to provide an immediate infusion of economic activity while other provisions are of a long-term nature. S 6 Section 3 (c) the Tax Study Commission, item (8) thereof and subsection (C) are item vetoed as duplicative. Subsection (G), item (2) is vetoed because the Commissioner of Finance already has the authority to set fees. The first phrase in subsection 3(f) is vetoed because the time period is too restrictive. The provisions of Section 3, subsections (g) through (n) pertaining to setting of time schedules for tax assessments and other related matters are vetoed in their entirety because they are confusing, contain detrimental errors, such as missing tax years and stale dates, and will be burdensome to property owners. Subsection (0) and (s) are partially vetoed because the time constraints are too restrictive. Subsections (p), (q) and (r) are partially vetced because it is a violation of the separation of powers to direct Executive Branch Departments to do certain functions, Section 3(d) to create a new Chapter 23 to establish a Uniform Procurement Law is vetoed. This far-reaching section contains numerous substantive errors and would bring immediate confusion and injury to our current procurement system. My Administration is in the process of developing a new comprehensive procurement code in order to upgrade and bring our procurement system up to date. I feel there is a need for further research and a more careful study before we institute such a radical revision to our procurement code. Section 3 (e) to amend the parimutuel gaming and simulcasting statute is vetoed. While it appears that the Government’s share of the revenues from parimutuel gaming and simulcasting will increase as a result of changes to the current law, in reality it would decrease. For example, the simulcaster of horse races will receive 60% of the revenues while the Horse Racing Commission receives 40%, but the Government doesn’t get its 4%. This is in conflict with current law Title 32, VIC, Section 205(b), which provides that 4% of the parimutuel take shall be paid to the Government. In addition, the section contains a provision for retroactivity which means the Government will lose even more revenues. There are also substantial errors in the calendar years cited and other ambiguities. In summary, the Section is not in the Government’s best interest and will not accomplish its intended purpose. Subsection (g) pertaining to the Tobacco Settlement Amendments, item (3) subpart (B)(1), items (i) and (ii) are vetoed and the phrase “after the date of enactment of this subsection” in items (iii), (iv), and (v) is vetoed at the request of the Attorney General to conform the language of the Act for uniform application. Subsection 3(b) is partially vetoed to ensure that the Attorney General retains responsibility for the transfer of individuals remanded to the custody of the Bureau of Corrections. It should be noted that numerous typographical and clerical errors were noted throughout this Bill, pursuant to Title 1, Virgin Islands Code, Section 202, corrections are noted on the attached Errata Sheet were made in consultation with the Office of the Attorney General. While I have item vetoed major portions of Bill No. 23-0306, the other provisions have been signed into law because they will benefit our community. It is hoped that these provisions will lead to increased economic opportunity for the people of the Territory. Cordially, Charles W. Turnbull Governor gv! 230 20be TWENTY-THIRD LEGISLATYRE OF THE VIRGIN ISLANDS Territory of the Virgin Islands REGULAR/SPECIAL SESSION 20. | slide ee Ly be Short Title: LEGISLATIVE HISTORY (a) Introduced and sent to Committee on.............00cccccccececsececeeecees DBC siercactiecencmrmianmns wed snmbiennted Ae tame a (b) Reported from Committee and sent to Rules on......s.scscssssseeseessesesesestesesesesesesesesveveveseeveseseeveveesesees (C) Reported from Committee on Rules........ccssccesesssssesseseevesesesseserssseseeseseseevsvevesessevesvesveseeveeeceveee. (d) Recalled from Committee BysS pect al Or ete eet ss cr certs sat Gl ee IE Saeed tt ere rte rere B= RO rrr emc dh aa oa ree c ee leh c eres iano aactaremreeemmaia ome $0) Reged hice csc arransareamceonorronearonnnmnnsonncaranaenrnsosoassneioniransd Rousoasorar icon etvesicanesespte Ree) Weta fay Giicn 0h Slicer es pseeuneensiaecunSaase oi aaanensestaS obser shea sade nesbunaus (h) Reconsidered by Legislature and passed or rejected OVER COMENTAG IS: VGLONG Eee cxtaet se Setar eR Nea eet A capt id clea f an Ss ectnc ene MEMBERS YEA NAY NOT VOTING ABSENT BENNERSON, Gregory A. / BERRY, Lorraine L. 7) BRYAN, Adelbert M. . f C’ 3, Donald “Ducks” / DAVID, Roosevelt St. C. DONASTORG, Adlah “Foncie” ei, GOMEZ, Judy M. GOODWIN, George E. GOLDEN, Violet Anne nd HANSEN, Alicia “Chucky” — - (2 JN. BAPTISTE, Norman t 4) 2 JONES, David S. aS 7 LIBURD, Almando “Rocky” A/ if PETRUS, Allie-Allison x s RICHARDS Vargrave A. Certified true and correc ? q a x S CLERK B on fodaes5 Agenda. Seeondad by Bee TWENTY-THIRD LEGISLATURE OF THE VIRGIN ISLANDS Territory of the Virgin Islands REGULAR/SPECIAL SESSION 20___ Bili No. ee’ Date: 2] 2)]00 Short Title: LEGISLATIVE HISTORY (a) Introduced and sent to Committee on (b) Reported from Committee and sent to Rules on (C) Reported from Committee on Rules........cccccccessesesesessesseseesesesesesveseeesesveveveveseseeseseesessesveeeveseevess (d) Recalled from Committee by Special Order CE) PRE Gi pcnonnsarcereseer desert aevann aos oidnalsealhcnsoeinewmuecl RE - FRIES hs srnsiet de aa aeceepe mel ersseeteianesebaacoeee ance (G) Vetoed by Governor of........ccceccccscsessesesucscsveveevecsvesvsseevesessavssivessivavavssaveueststeatsssereseesesveseeveree (h) Reconsidered by Legislature and passed or rejected over Governor's Veto on MEMBERS YEA NAY NOT VOTING ABSENT BENNERSON, Gregory A. ] BERRY, Lorraine L. e. BRYAN, Adelbert M. | C &, Donald “Ducks” ps | DAVID, Roosevelt St. C. DONASTORG, Adlah “Foncie” GOLDEN, Violet Anne GOMEZ, Judy M. GOODWIN, George E. STAHL] HANSEN, Alicia “Chucky” Li JN. BAPTISTE, Norman % JONES, David S. LIBURD, Almando “Rocky” RICHARDS Vargrave A. PETRUS, Allie-Allison S t Certified “G correct CLERK , Cleve CWP? FB (YbQeg) VE LE nih ~ L0dly Unotuadibe: Congo ) Lee Arter" TWENTY-THIRD LEGISLATURE OF THE VIRGIN ISLANDS Territory of the Virgin Islands REGULAR/SHECIBUL SESSION 2930 Bi No. Brew” Date: Ig [P| | OO Short Title: LEGISLATIVE HISTORY (a) Introduced and sent to Committee on..........cecccccccccceseseseeeeeecees [BEVGS eect ent See ee (b) Reported from Committee and sent to Rules on (C) Reported from Committee on Rules........cscssescesessesessvssessessesessesvessestessessesaveresesvesessesesseeseeeeesee (d) Recalled from Committee by Special Order (e) Adopted on BE | REAP cre cr den tetraacetate cee OSs) > SRT Rap cee acs ocean eeapmsapracssesccl sinters ancacdladmoramsemansamsornnarmaromentiomera: emees (h) Reconsidered by Legislature and passed or rejected over Govermor's Veto on MEMBERS ¥ ie} > Zz > ~< NOT VOTING ABSENT BENNERSON, Gregory A. BERRY, Lorraine L. BRYAN, Adelbert M. Cf ~%, Donald “Ducks” DAY 1D, Roosevelt St. C. DONASTORG, Adlah “Foncie” GOLDEN, Violet Anne GOMEZ, Judy M. GOODWIN, George E. HANSEN, Alicia “Chucky” NIXRUITORAIS ASN JN. BAPTISTE, Norman OS JONES, David S. LIBURD, Almando “Rocky” PETRUS, Allie-Allison ORAS RICHARDS Vargrave A. i crn ‘o nd correct 7 ty Ctrih 'Z Lhe ge CLERK