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Virgin Islands Fuel Tax Revenue Directed to Local Treasury

This bill changes how taxes on fuel produced in the Virgin Islands and brought into the United States are handled. Instead of going to the U.S. federal treasury, these funds will now be directed to the Virgin Islands' own treasury. This means the local government of the Virgin Islands will have more revenue to fund public services and development, potentially improving the quality of life for residents.
Key points
Taxes on fuel produced in the Virgin Islands and sold in the U.S. will go to the Virgin Islands' treasury.
The change applies to fuel entered into the U.S. after December 31, 2020.
Increased revenue for the Virgin Islands may support local investments and services.
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Additional Information
To amend the Internal Revenue Code of 1986 to cover into the treasury of the Virgin Islands revenue from tax on fuel produced in the Virgin Islands and entered into the United States.
Print number: HR 1430
Sponsor: Del. Plaskett, Stacey E. [D-VI-At Large]
Process start date: 2021-02-26