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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



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(b) Reported from Committee and sent to Rules on

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,(d) Recalled from Committee by Special Order.

(€) Adopted on

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(GZ) Vetoed by Governor On. ......sscscscsesscsssssecsesevsceussssssvsscensuesssavavsnsseessassusavsatesausasavsseseeseaseeesesesven



(h) Reconsidered by Legislature and passed or rejected

over Govermor’s Veto on



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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



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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;



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(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



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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

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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.

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(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

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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

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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

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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:



Ҥ 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:

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“(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

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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).”

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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

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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.

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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

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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.

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(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

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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

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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

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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

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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.

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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

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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;

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(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

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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.

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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.

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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

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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

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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.”

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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;

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(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

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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

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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

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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.

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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

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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

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LEGISLATIVE HISTORY



(h) Reconsidered by Legislature and passed or rejected



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MEMBERS



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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



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JN. BAPTISTE, Norman



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JONES, David S.



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LIBURD, Almando “Rocky”



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PICKARD-SAMUEL, Norma



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RICHARDS, Vargrave A



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WHITE Sr., Celestino A.



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Bill No. 4 3-0n GF Z-



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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



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(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:



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nipple G84) uate Ses Socordecl



YU TWENTY-FOURTH LEGISLATURE OF THE VIRGIN ISLANDS



(a) Introduced and sent to Committee on......

(b)

(c)

(d)

(e)



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(h)



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LEGISLATIVE HISTORY



Reconsidered by Legislature and passed or rejected

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BERRY, Lorraine L.



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BRYAN, Adelbert M.



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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.



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piitlice ts LEGISLATURE OF THE VIRGIN ISLANDS

Territory of the Virgin Islands



inne, LO -QAER



REGULAR/SPECIAL SESSION 200

ROLL CALL



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(a) Introduced ANG SEN 16 COMICS OF, ..<ncsnnansnanninvnceetavevaxvndons Date

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LEGISLATIVE HISTORY



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MEMBERS



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>



NOT VOTING ABSENT



BERRY, Lorraine L.



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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.



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)

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

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(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

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(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

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(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