Title 29 — Public Planning and Development
25 chapters · 546 sections in this title.
29 V.I.C. § 724 Appeals
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Any applicant or beneficiary aggrieved by any action of the Commission under the provisions of this subchapter shall be entitled to judicial review thereof by appealing to the Superior Court of the Virgin Islands within 30 days after final decision by the Commission or Governor. …
29 V.I.C. § 725 False or fraudulent statements or representations; false claims for benefits
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Any applicant or beneficiary who shall willfully make 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 t…
29 V.I.C. § 726 Industrial Promotion Fund
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There is established in the Treasury of the Virgin Islands a special account to be known as the “Industrial Promotion Fund” (hereinafter, the “Fund”). The Fund shall contain all appropriations made by the Legislature to the Fund for promotional activities and other purposes, and …
29 V.I.C. § 741 Declaration of Purpose and Policy
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(a) The Legislative intent of this subchapter is to promote the establishment of structured, sports-oriented and/or recreational facilities, to make opportunities for training and employment of local personnel in areas not currently available to Virgin Islands residents; to provi…
29 V.I.C. § 742 Definition
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(a) As used in this subchapter, unless the context otherwise requires:(a) “Commission” means the Virgin Islands Economic Development Commission as established in Title 29, chapter 12, section 704, Virgin Islands Code.(b) “Young people” as used in this chapter means persons betwee…
29 V.I.C. § 743 Powers of Commission
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The Virgin Islands Economic Development Commission shall have within its powers the authority to negotiate and sign all contracts pursuant to establishing the provisions of this subchapter.
29 V.I.C. § 744 Requirements for granting benefits
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(a) To qualify and remain eligible for benefits, an individual, partnership, joint venture, corporation, or organization which applies for benefits provided under this subchapter must:(a) Establish a facility deemed suitable and safe by the appropriate governing agencies, with ad…
29 V.I.C. § 745 Tax exemptions to beneficiaries
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(a) An individual, partnership, joint venture, corporation, or organization who qualifies under the provisions of this subchapter shall be entitled to:(a) An exemption from the payment of all gross receipts taxes while the business remains in operation and maintains its mission o…
29 V.I.C. § 746 Obligations of the beneficiary
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(a) A beneficiary shall be required to promote the sport and/or recreation activity to young people within the territory by sponsoring and/or co-sponsoring youth leagues, which may include inter-island competitions between high schools. (b) A beneficiary shall hire and train indi…
29 V.I.C. § 747 Definitions
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(1) As used in this subchapter, the following terms have the meaning prescribed in this section:(1) “Audio data content” means any recordable form of audio or MIDI information in any digital or analog format resulting from either the recording process, capturing the audio data or…
29 V.I.C. § 747a Office of Filmmaking and Music Recording Promotion established [Repealed]
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29 V.I.C. § 747a Statutes current through Act 9046 of the 2025 session of the 36th Legislature, including all code changes through October 25, 2025 Virgin Islands Code AnnotatedCopyright © 2026 All rights reserved.
29 V.I.C. § 747b Duties of office
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(a) The Office shall:(1) Undertake a vigorous program designed to advertise and promote the Virgin Islands as an ideal location for major and minor film productions and music/audio recording projects, including the production and distribution of pamphlets and brochures; the placi…
29 V.I.C. § 747c Duties of the Director
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(a) The Director shall with the assistance and through the Virgin Islands Economic Development Authority (“EDA”):(1) Review all applications for tax incentive benefits;(2) Recommend to the EDA such regulations as may be necessary to implement the provisions of this subchapter;(3)…
29 V.I.C. § 747d Qualifications for benefits
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(a) The Director may recommend to the EDA a grant of benefits only to applicants that meet the requirements established in this section. (b) The Director and EDA may not require an applicant to meet qualifications or requirements in excess of the conditions listed in this subchap…
29 V.I.C. § 747e Tax benefits
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(a) The tax liabilities for income meeting the requirements of section 747d(c)(2)(A) may be reduced or rebated pursuant to the Internal Revenue Code of 1986, as amended and as applicable to the Virgin Islands 26 U.S.C. section 934(b)(l) (b) The beneficiaries of the tax benefits u…
29 V.I.C. § 747f Application process
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(a) Applications for benefits or extensions of benefits under this subchapter must be filed with the Director on forms designed, printed and provided by the Office. The application must contain such directives and information as prescribed by regulations. All applications of part…
29 V.I.C. § 747g Certificate; effect of; contents
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(a) The Certificate issued under this subchapter constitutes an enforceable contract between the Government of the Virgin Islands and the beneficiary, and pursuant to 48 U.S.C. §1561, the Government may not enact any law impairing the obligation of such contract. The Certificate …
29 V.I.C. § 747h Transferability of Certificates
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A Certificate granted under this subchapter may be transferred, for the unexpired portion of the term of the Certificate, to another corporation that succeeds the beneficiary in carrying on or in operating the industry or business for which the Certificate is granted, upon determ…
29 V.I.C. § 747i Revocation, suspension or modification of Certificate
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(a) The Director may revoke, suspend or modify a Certificate issued under this subchapter, after notice, public hearing, and written findings by the Director that:(1) the beneficiary has failed to maintain compliance with the requirements of this subchapter or any regulation unde…
29 V.I.C. § 747j Judicial review
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An applicant or beneficiary aggrieved by any action of the Director or the Governor under this subchapter may petition the Superior Court of the Virgin Islands for judicial review under 5 V.I.C., chapter 97 no later than 30 days after a final decision by the Director or the Gover…
29 V.I.C. § 747k Regulations
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The Commissioner may, pursuant to chapter 35 of title 3, promulgate regulations to carry out the purpose of this subchapter.
29 V.I.C. § 747l False or fraudulent statements or representations; false claims for benefits
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(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…
29 V.I.C. § 750 Purpose
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(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 …
29 V.I.C. § 751 Definitions
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(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…
29 V.I.C. § 752 Administration of Incentives
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(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…
29 V.I.C. § 753 Qualification for tax incentive benefits
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(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…
29 V.I.C. § 753a Eligible Incentives Granted
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(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…
29 V.I.C. § 753b Procedure for application for tax incentives
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(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…
29 V.I.C. § 753c Sale or transfer of tax credits
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(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…
29 V.I.C. § 753d Annual cost benefit analysis
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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.
29 V.I.C. § 801 Declaration of purpose
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(a) The purposes and objectives of this chapter are:(a) To acquire, operate and improve industrial parks in order to provide suitable sites for the location of industries in the Virgin Islands.(b) To complement the Economic Development program established under chapter 12 of this…
29 V.I.C. § 802 Short title
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This chapter shall be known and may be cited as the “Virgin Islands Economic Development Park Act”.
29 V.I.C. § 803 Definitions
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(a) As used in this chapter, unless the context requires otherwise, the following words shall have the meaning set forth in this section:(a) “Corporation” means the Economic Development Park Corporation created by this chapter.(b) “Chief Executive Officer” means the Chief Executi…
29 V.I.C. § 810 Public corporation
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(a) There is hereby created the Virgin Islands Economic Development Park Corporation, (hereinafter referred to as “the Corporation”), as a discrete but integral part of the Economic Development Authority established in chapter 21 of title 29, Virgin Islands Code. (b) The Corporat…
29 V.I.C. § 811 Corporate purposes
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The corporate purposes of the Corporation shall be the same as those purposes set forth in section 801 of this title, as the purposes of this chapter.
29 V.I.C. § 812 Board of Directors
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The powers of the Corporation shall be exercised by the Governing Board of the Virgin Islands Economic Development Authority which shall also constitute the Governing Board of the Corporation.
29 V.I.C. § 813 Board of Directors; powers and duties
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(a) The Board of Directors shall have the following powers and duties to effectuate the purposes of this chapter, including but without limiting the generality of the foregoing:(a) To do any and all things permitted under the laws of the Virgin Islands to effectuate the purposes …
29 V.I.C. § 814 Executive Director; powers and duties
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The Chief Executive Officer, appointed pursuant to section 1102 of title 29, Virgin Islands Code, shall act as the Executive Director for the corporation and shall have such powers and duties as set forth in section 707 of this title as may be applicable to the Corporation subjec…
29 V.I.C. § 815 Taxation of the Corporation
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The purposes for which the Corporation is created and shall exercise its powers being public purposes, the Corporation, its property, income and activities, shall be exempt from all taxes, special assessments and license fees of the Virgin Islands or any political subdivision the…
29 V.I.C. § 816 Bonds: authorization of issuance; security; tax exemption; terms and conditions
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(a) Pursuant to the authority of the Government of the Virgin Islands under section 8(b)(i) of the Revised Organic Act of the Virgin Islands, as amended, the Corporation is hereby granted the power to issue and sell bonds from time to time and have outstanding at any one time, ex…
29 V.I.C. § 817 Bonds: powers of the Corporation with respect to industrial revenue bonds
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(a) In any resolution or resolutions authorizing the issuance of bonds, the Corporation may contract with the holders of bonds to undertake and obligate itself of such commitments, as long as the bonds are outstanding and unpaid, as are deemed by the Board to be necessary and app…
29 V.I.C. § 818 Bonds: right to receivership upon default
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(a) The Corporation is authorized to covenant for foreclosure of any of its projects financed by the bank upon default as hereinafter set forth in subsections (b) and (c) of this section inclusive, or to limit such right by definition of default or otherwise, in its agreement wit…
29 V.I.C. § 819 Bonds: remedies of bondholders
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(a) Subject to any contractual limitations binding upon the holders of any issue of bonds, or trustees therefor, including but not limited to the restriction of the exercise of any remedy to a specified proportion or percentage of such holders, any holder of bonds, or trustee the…
29 V.I.C. § 820 Bonds: bonds of the Corporation as local investments for public or private funds
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The bonds of the Corporation shall be lawful investments, and may be accepted as security, for all fiduciary, trust and public funds, the investment or deposit of which shall be under the authority or control of the Government of the Virgin Islands or any officer or officers ther…
29 V.I.C. § 821 Agreements of the Virgin Islands
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The Government of the Virgin Islands is authorized to and does hereby, pledge to and agree with the holders of the bonds or notes that the Government of the Virgin Islands will not limit or alter the rights, hereby vested in the Corporation to acquire, construct, reconstruct, imp…
29 V.I.C. § 822 Government of the United States Virgin Islands not liable on bonds or notes
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The bonds or notes and other obligations of the Corporation shall not be a debt of the Government of the Virgin Islands, and the Government of the Virgin Islands shall not be liable thereon, nor shall they be payable out of any funds other than those under the resolution of the C…
29 V.I.C. § 823 Powers not set forth
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Whenever the Corporation lacks the express power to perform an act consistent with the purposes set forth in this chapter, the Corporation may do or perform such act where authorized under the general corporation laws of the Virgin Islands.
29 V.I.C. § 824 Audits
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The Corporation shall obtain an independent certified audit for transmittal to the Governor and the Legislature annually.
29 V.I.C. § 825 Term of existence
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The existence of the Corporation shall be perpetual.
29 V.I.C. § 826 Winding up and dissolution
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The Corporation may be wound up and dissolved by an act of the Governor and the Legislature with assets, subject to any agreements that the Corporation may have entered into, reverting to the Government of the Virgin Islands.