(a) Every person who rents a drive-yourself car in the Virgin Islands shall pay a $5.00-per day surcharge for each rental. Notwithstanding any other provision of law, the $5.00-per day surcharge shall not be adjusted for a period of five years after enactment.
(b) The licensee shall indicate the amount of the surcharge as a separate item on the statement or charges given to the person who rents a drive-yourself car. The licensee shall be responsible for making the reports and payments at such intervals as the Director of the Bureau of Internal Revenue requires.
(c) Chapter, sections 45 (penalty for failure to report or pay taxes; arbitrary assessment by the Director; waiver of penalties), 48 (taxpayers' records) and 53(a) (penalties) of this title shall apply to the regulation of the motor vehicle rental surcharge and tax under this chapter.
(d) The Director of the Bureau of Internal Revenue shall cover $2.00 of the amounts collected under this section into the Virgin Islands Education Initiative Fund established under Title 33, section 3093, Virgin Islands Code, $1.25 into the General Fund of the Treasury of the Government of the Virgin Islands and $1.75 of the amounts collected to the Bureau of School Construction, Maintenance and Capital Fund established under Title 33 Virgin Islands Code, section 3092a.
(e) [Deleted.]
(f) [Deleted.]
(g) [Deleted.]
(h) [Deleted.]
(i) The Director of the Bureau of Internal Revenue shall maintain a detailed accounting record of all monies collected from the motor vehicle rental surcharge and all monies disbursed to the Department of Finance.
(j) Until completion of the above-mentioned capital projects, the Commissioner of the Department of Finance shall maintain a detailed accounting record of all monies received from the Director of the Bureau of Internal Revenue from the motor vehicle rental surcharge and a detailed accounting record of all monies disbursed to the Public Finance Authority on behalf of the Commissioner of the Department of Public Works from the motor vehicle rental surcharge.
(k) Until completion of all of the above-mentioned capital projects, the Commissioner of the Department of Public Works shall maintain a detailed accounting record of all monies disbursed on the Department's behalf by the Commissioner of the Department of Finance from the motor vehicle rental surcharge and a detailed accounting record of all monies disbursed to the Executive Director of the Public Finance Authority for the above-mentioned capital projects.
(l) Until and at such time as the above-mentioned capital projects are completed, the Executive Director of the Public Finance Authority shall maintain a detailed accounting record of all monies received from the Department of Finance on behalf of the Department of Public Works for the above-mentioned capital projects. The Executive Director of the Public Finance Authority shall also maintain a detailed accounting record of all capital improvement projects undertaken in the Territory.
(m) Until all of the above-mentioned capital projects are completed, the Director of the Bureau of Internal Revenue, the Commissioner of the Department of Finance, the Commissioner of the Department of Public Works and the Executive Director of the Public Finance Authority shall submit a copy of the accounting records and detailed reports described herein to the Legislature on a semi-annual basis.