Title 2 — Legislature
10 chapters · 78 sections in this title.
2 V.I.C. § 251 Statement of purpose
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The purpose of this chapter is to require, as a matter of law, that: (1) the budget of the Government of the Virgin Islands be balanced each fiscal year; (2) appropriations in each fiscal year not exceed the verifiable revenues received; (3) annual deficits be eliminated that wil…
2 V.I.C. § 252 Definitions
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(1) As used in this chapter, unless the context clearly requires otherwise:(1) “Appropriations” means an amount authorized by law to be paid in a fiscal year from the monies of the Government of the Virgin Islands for a specific purpose.(2) “Budget” means the total appropriations…
2 V.I.C. § 253 Mandatory balanced budget requirement
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Prior to each fiscal year, and before enactment of the budget of the Government of the Virgin Islands, the Legislature shall adopt, by law, a statement of the average of the prior two years “Revenues” or “Verifiable receipts” which has been certified by the Governor, shall be the…
2 V.I.C. § 254 Governor's recommendation
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Together with the submission of the program and financial plan required by the Executive Budget Act, contained in Title 2, chapter 2, section 24, Virgin Islands Code, the Governor shall submit to the Legislature his certified statement of the average of the prior two years actual…
2 V.I.C. § 255 Waiver for emergencies
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The provisions of this chapter may be waived by a two-thirds vote of the Legislature whenever the Legislature finds that an emergency exists, natural or otherwise.
2 V.I.C. § 256 Fixed debt
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(a) The amount of debt of the Government of the Virgin Islands existing on October 1, 2000 shall be the debt limit of the Government of the Virgin Islands, exclusive of bond principal and interest that may become due. The debt limit shall not include bonds authorized by law for w…