Title 29, Public Planning and Development

The Commissioner may, pursuant to chapter 35 of title 3, promulgate regulations to carry out the purpose of this subchapter.

(a) An applicant or beneficiary who willfully makes any false or fraudulent statement or representation as to any fact required or appropriate to the determination of the qualifications of eligibility of such applicant or beneficiary for benefits under this subchapter, or for the…

(a) The purposes of this subchapter are to enhance the Virgin Islands’ economy by revitalizing and expanding the attraction of the film, video, and other media recording, motion picture, and television industries and related media productions to the Virgin Islands and to promote …

(a) As used in this subchapter, the term:(a) “Affiliate” means an entity that is included in the production company’s affiliated group, as defined 26 U.S.C. § 1504(a), and any other entity that is directly or indirectly owned 50 percent or more by a member of the affiliated group…

(a) The Virgin Islands Economic Development Authority in partnership with the Department of Tourism is responsible for managing applications for Incentives under this Program. (b) The Economic Development Authority shall be responsible for managing applications for incentives pro…

(a) In order to qualify and remain eligible for tax incentive benefits under this subchapter, an applicant must:(1) Be a Resident Production Company or a non-Virgin Islands entity that has obtained a license to do business in the Territory under 27 V.I.C. § 302.(2) Expend a minim…

(a) Each Qualified Production Company, both resident and nonresident, is eligible for the Incentives provided in this section upon meeting the requirements of section 753; each Qualified Production Company may select one or more of the following Incentives:(1) A production compan…

(a) The tax liabilities for income meeting the requirements of section 753a may be reduced or rebated pursuant to the Internal Revenue Code of 1986, as amended, and as applicable to the Virgin Islands by offsets to Qualified Production Expenditures and taxes payable to the Territ…

(a) Any tax credits with respect to a Territory Certified Production earned by a Production Company and previously claimed but not used by such Production Company against its income tax or other tax liability may be transferred or sold in whole or in part by such Production Compa…

The Bureau of Economic Research shall cause an annual cost benefit analysis of the Incentives awarded under this subchapter for the purpose of determining the overall economic impact on the Treasury of the Virgin Islands.