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Tax Relief for Virgin Islands Service Companies

This act aims to boost the economy of the Virgin Islands by changing tax rules. Companies providing specific services in the Virgin Islands may benefit from more favorable tax treatment, encouraging investment and job creation. These changes could indirectly impact the local economy and service availability.
Key points
Virgin Islands companies providing services will have altered rules for calculating global intangible low-taxed income.
New provisions apply to income from labor or personal services performed in the Virgin Islands by local corporations.
The changes are intended to revitalize the economy and encourage investment in the Virgin Islands.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_858
Sponsor: Rep. Estes, Ron [R-KS-4]
Process start date: 2025-01-31
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

REVIVE VI Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_858.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-01-31.

What are the main provisions?

Key points include:

  • Virgin Islands companies providing services will have altered rules for calculating global intangible low-taxed income.
  • New provisions apply to income from labor or personal services performed in the Virgin Islands by local corporations.
  • The changes are intended to revitalize the economy and encourage investment in the Virgin Islands.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Estes, Ron [R-KS-4].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Taxes Economy