An act amending title 29 Virgin Islands Code, chapter 23, section 1313 by expanding benefits under the Hotel Development Program for hotel improvement
Sponsored By: Sponsor information unavailable
Signed by Governor
Your PRIA Score
Personalized for You
How does this bill affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Bill Overview
Analyzed Economic Effects
5 provisions identified: 2 benefits, 0 costs, 3 mixed.
More project tax revenue for St. Croix hotels
The law sends 100% of designated hotel and casino taxes, and any ERF, to a project’s fund if it is a new build with permits not finalized before this law, or a St. Croix upgrade that invests over $25 million and adds at least 25% more rooms. It sends 50% of those two taxes (and 100% of any ERF) if at least 70% of units were unoccupiable due to natural events, or a St. Croix project invests over $10 million. To get the top tier, applicants must plan over $25 million and finish substantially within five years after the agreement; if not, starting in year six they only get the lower (a)(2) allocation. The mid-tier needs over $10 million and substantial completion within two years. If a project misses these tests, revenues go to its ERF Trust Account, and the 100% allocation is now required, not elective. The law also defines a qualifying hotel improvement as over $25 million in new capital (not routine or deferred maintenance) and counts added rooms above the room count at application.
Local residents get hiring preference
Developers must give hiring preference to Virgin Islands residents, as defined in law, when filling jobs covered by approved employment waivers. The process is renamed a “petition for employment waiver,” and the Virgin Islands Department of Labor handles those petitions. This raises local residents’ chances for hotel jobs and clarifies who runs the waiver process.
Dedicated trust accounts for project funds
Within 30 days after a project tells the Public Finance Authority it will use designated hotel, casino, or ERF revenues, the Authority must open a separate, interest‑bearing Project Hotel Development Trust Fund for that project. The Authority must tell the Economic Development Authority, the tax bureau, and the Department of Finance the account details. The Authority must maintain the account and may use the money only for that account’s administration, not for other purposes. The same notice and maintenance rules apply to ERF Trust Accounts.
New fee timing and 1.5% base
The 1.5% program fee is now based on the prior calendar year’s amounts and is due within 30 days of the Authority’s invoice. The Tourism payment in section 1314(b) must be made within 30 calendar days of receipt. This sets clear due dates for what businesses owe and speeds when program payments are made.
Stricter program rules and one repeal
An agency duty in section 1307(e) is now mandatory, not optional. The law also deletes the prior text of section 1317 and marks it “Reserved.” Applicants must follow the remaining rules and cannot rely on what section 1317 used to provide.
Free Policy Watch
You just read the policy. Now see what it costs you.
Pick a topic. PRIA runs your household against live legislation and sends you a free personalized readout.
Pick a topic to get started
Sponsors & Cosponsors
Sponsors
There is no primary sponsor on record.
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Enacted
3/24/2026legislatureTo Governor
3/20/2026legislatureFloor
3/18/2026legislatureFloor
3/18/2026legislatureIntroduced
2/26/2026legislature
Bill Text
Enacted Act
3/24/2026
Amendment
3/18/2026
Bill Text
2/26/2026
Related Bills
Lease 36-0098 — An act approving the lease agreement between the Government of the Virgin Islands, acting through the Commissioner of the Department of Property and Procurement,
Bill No. 36-0261 — An act establishing a 33-business day amnesty to assist taxpayers and businesses recovering from the aftermath of Hurricanes Irma and Maria and Tropical
Bill No. 36-0198 — An act amending Act No. 9035 by redesignating the funding source for several entities and correcting a typographical error and amending Act No. 9045 by
Bill No. 36-0219 — An act amending title 22 Virgin Islands Code, chapter 31 relating to the Virgin Islands Producer and Adjuster Licensing Act by modifying renewal provisions
Bill No. 36-0199 — An act approving the lease agreement between the Government of the Virgin Islands, acting through the Commissioner of the Department of Property and Procurement,
Lease 36-0204 — An act approving a multi-year lease agreement between the Government of the Virgin Islands, acting through its Commissioner of the Department of Property
Take It Personal
Get Your Personalized Policy View
Take the PRIA Score to see how policy affects your household, then upgrade to PRIA Full Coverage for year-round monitoring.
Already have an account? Sign in