COMMITTEE ON BUDGET, APPROPRIATIONS AND FINANCE 
 
BILL NO. 
36-0236 
 
Thirty-Sixth Legislature of the Virgin Islands 
 
 
 
February 2, 2026 
 
 
 
An act amending title 33 Virgin Islands Code, subtitle 3, chapter 111, section 3061 by 
increasing the amount of money that is to remain in the Virgin Islands Insurance Guaranty 
Fund before any interest can be deposited into the General Fund 
 
 
 
PROPOSED BY: 
 
 
Senator Kurt A. Vialet 
 
Be it enacted by the Legislature of the Virgin Islands: 
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SECTION 1.  Title 33 Virgin Islands Code, subtitle 3, chapter 111, section 3061 is 
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amended as follows: 
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(a) 
in subsection (d): 
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(1) 
strike both occurrences of “$50,000,000” and insert “$55,000,000”; 
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(2) 
in the last sentence: 
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(A) strike “equals or”; and 
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(B) strike “said interest” and insert “amounts in excess”. 
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(b) 
strike subsection (e). 
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BILL SUMMARY 
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The bill amends title 33 Virgin Islands Code, subtitle 3, chapter 111, section 3061 by 
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increasing the amount of money, from $50,000,000 to $55,000,000, that is to remain in the 
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Virgin Islands Insurance Guaranty Fund (“Fund”) before any interest can be deposited into the 
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General Fund and making technical amendments.  Under current law, the interest on the monies 
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in the Fund is required to be deposited into the Fund until the balance equals $50,000,000 with 
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any excess being deposited into the General Fund. 
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BR25-0948/January 14, 2026/GC/Revised February 2, 2026/GC 
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