Title 29 — Public Planning and Development
25 chapters · 546 sections in this title.
29 V.I.C. § 1018d Exemption from customs laws, custom duties, excise taxes and gross receipt taxes for merchandise imported to and exported from the Virgin Islands South Shore Trade Zone
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(a) Handling of merchandise in zone; shipment of foreign merchandise into customs territory; appraisal; reshipment of foreign and domestic merchandise of every description, except such as is prohibited by law, may, without being subject to the customs laws of the Virgin Islands, …
29 V.I.C. § 1018e Economic development benefits exclusion
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(a) Beneficiaries of the Economic Development Program in title 29 Virgin Islands Code, chapter 12 and the University of the Virgin Islands Research and Technology Park in title 17 Virgin Islands Code, chapter 34 are not eligible to be designated as a Beneficiary or to receive ben…
29 V.I.C. § 1018f Virgin Islands South Shore Trade Zone: Electrical Power & Water Generation
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(a) Notwithstanding title 30 Virgin Islands Code, chapter 1, Beneficiaries, including The Virgin Islands Water and Power Authority, have the right to generate, sell, trade, or otherwise distribute electrical power and water to Beneficiaries within the South Shore Trade Zone. (b) …
29 V.I.C. § 1018g Revocation, suspension, or modification of certificate
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(a) A Virgin Islands South Shore Trade Zone certificate granted in accordance with this subchapter may be revoked, suspended or modified by the Commission, after due notice, public hearing and written findings by the Commission that:(1) the Beneficiary has failed to maintain comp…
29 V.I.C. § 1018h False or fraudulent statements or representations; false claims for benefits
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Any applicant or Beneficiary who willfully makes any false or fraudulent statement or representation as to any fact required or appropriate, necessary or related to the determination of the eligibility qualifications of such applicant or Beneficiary for benefits under this subcha…
29 V.I.C. § 1021 Short title
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This chapter may be cited as the “Tobacco Settlement Financing Act of 2001”.
29 V.I.C. § 1022 Definitions
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(a) For the purposes of this chapter, the term:(a) “Bonds” means the taxable or tax-exempt asset-backed bonds, notes or other obligations, authorized to be issued by the Corporation pursuant to this chapter.(b) “Corporation” means the Tobacco Settlement Financing Corporation esta…
29 V.I.C. § 1023 Sale of rights under Master Settlement Agreement
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(a) For the purpose of the funding of the healthcare projects described in title 33, chapter 111, section 3100b(c), Virgin Islands Code, the Government may sell to the Corporation all of the Government's right, title, and interest in and to the Master Settlement Agreement, includ…
29 V.I.C. § 1024 Establishment of the Tobacco Settlement Financing Corporation; powers and authority
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(a) The Tobacco Settlement Financing Corporation is established as a special purpose, independent instrumentality of the Virgin Islands. The Corporation shall be a corporate body, intended, created, and empowered to effectuate the purposes stated in this chapter, and shall have a…
29 V.I.C. § 1025 Issuance of Bonds
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(a) The Corporation shall have the power to issue asset-backed bonds, notes, and other obligations, including refunding asset-backed bonds at or before maturity, to finance, or assist in the financing of healthcare projects described in title 33, section 3100b(c) Virgin Islands C…
29 V.I.C. § 1026 Obligations while Bonds outstanding
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(a) The existence of the Corporation shall be perpetual; provided, that the board of directors by majority vote, including both of the independent members, may dissolve the Corporation when the Bonds, the Residual Bond, if any and all other obligations of the Corporation incurred…
29 V.I.C. § 1027 True sale
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The transfer of the Government's right, title, and interest in and to the Master Settlement Agreement to the Corporation or any assignee which the parties have in the governing documentation expressly stated to be a sale or other absolute transfer shall be treated as an absolute …
29 V.I.C. § 1028 Master Settlement Agreement and Model Statute valid and enforceable
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Notwithstanding any other law, the Master Settlement Agreement and the Model Statute referred to in the Master Settlement Agreement are each valid and enforceable in accordance with their respective terms.
29 V.I.C. § 1029 Performance of Master Settlement Agreement
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Article XII of the Master Settlement Agreement imposes continuing and material obligations on the Government, and a failure by the Government to continue performing those obligations shall constitute a material breach excusing the performance of the other parties to the Master Se…
29 V.I.C. § 1030 Severability
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If a provision of this chapter or its application to a person or circumstances is held invalid, the invalidity shall not affect other provisions or applications of this chapter, which can be given effect without the invalid provisions, or application.
29 V.I.C. § 1051 Short title
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This chapter may be cited as the “Caribbean Cultural Heritage Center Act of 2001”.
29 V.I.C. § 1052 Definitions
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(a) For the purposes of this chapter, the term:(a) “Bonds” means the taxable or tax-exempt bonds, notes or other obligations, authorized to be issued by the Corporation pursuant to this chapter.(b) “Carifest Center and Park” means the cultural center, parking facilities, park and…
29 V.I.C. § 1053 Establishment of the Caribbean Cultural Heritage Center and Discovery Park Corporation; powers and responsibilities
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(a) The Caribbean Cultural Heritage Center and Discovery Park Corporation is established as a body corporate and politic constituting a public corporation and autonomous governmental instrumentality of the Government of the Virgin Islands. The Corporation shall be a corporate bod…
29 V.I.C. § 1054 Board of Directors
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(a) The Corporation shall be governed by a Board of Directors consisting of five members appointed by the Governor. (b) The Board of Directors shall be appointed by the Governor within 30 calendar days after the effective date of this chapter or 180 days after the date of a vacan…
29 V.I.C. § 1055 Authority of the Corporation to issue bonds
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(a) The Corporation shall have the power to issue bonds, notes, and other obligations, including refunding bonds at or before maturity, to finance, or assist in the financing of the Carifest Cultural Heritage Center, which obligations shall not constitute any obligation of the Go…
29 V.I.C. § 1056 Bonds of the Corporation legal investments for public or private funds
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(a) The Bonds shall be securities in which all public officers and bodies of the Government and all agencies, instrumentalities, commissions, authorities, and political subdivisions thereof, all insurance companies and associations and other persons carrying on an insurance busin…
29 V.I.C. § 1057 Agreement of the Government of the Virgin Islands
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The Government pledges to the Corporation and the holders of the bonds that the Government will not in any way impair the rights and remedies of the holders of the bonds, until the bonds and the interest thereon and the interest on any unpaid installments of interest and all cost…
29 V.I.C. § 1058 Dissolution of the Corporation
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Subject to the provisions of title 13 chapter 1 of the Code, relating to dissolution and winding up the affairs of the corporation, by majority vote, the Board may dissolve the Corporation when the bonds, and all other obligations of the Corporation incurred with respect to the i…
29 V.I.C. § 1059 Corporate contribution
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(a) The Corporation shall pay to the Government of the Virgin Islands:(a) Two percent of its net income to be used to provide for cultural education for students and teachers and entrepreneurial programs for students;(b) Two percent of its net income to be used by the Department …
29 V.I.C. § 1060 Severability
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If a provision of this chapter or its application to a person or circumstances is held invalid, the invalidity shall not affect other provisions or applications of this chapter which can be given effect without the invalid provisions or application.
29 V.I.C. § 1100 Statement of purpose
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The purpose of this chapter is to create an umbrella authority to assume, integrate and unify the functions of the Economic Development Bank, the Economic Development Commission, the Economic Park Development Corporation, and the Small Business Development Agency (hereinafter ref…
29 V.I.C. § 1101 Creation
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(a) To aid the Government in the performance of its duties to develop the economy of the Virgin Islands, there is hereby created a body corporate and politic constituting a public corporation and semi-autonomous instrumentality of the Government of the Virgin Islands, by the name…
29 V.I.C. § 1102 Governing board and other personnel of the Authority
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(a) The powers of the Authority shall be exercised by a governing board consisting of the members of the Authority acting as a board. Of the seven members appointed to the Board, three shall not be employees of the Government of the Virgin Islands or the Government of the United …
29 V.I.C. § 1103 Charter of the Authority
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(A) The Charter of the Authority shall be as follows:FIRST: The existence of the Authority shall be perpetual.SECOND: The principal office of the Authority shall be within the Virgin Islands.THIRD: The purpose for which the Authority is formed, the business or objectives to be ca…
29 V.I.C. § 1104 Exemption of Authority from taxes
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The purpose for which the Authority is created and shall exercise its powers being a public purpose, unless otherwise expressly provided by law, the Authority shall not be required to pay any taxes or assessments on any of the property acquired or to be acquired by it, or on its …
29 V.I.C. § 1105 Annual report; publication
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The Authority shall submit to the Governor and Legislature annually, after the close of its fiscal year, a report of the business of the Authority for the preceding fiscal year.
29 V.I.C. § 1106 Written transcripts of proceedings
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The Authority shall keep recordings or written transcripts of all of its proceedings and such recordings or transcripts shall be considered public documents. Transcripts shall be transcribed no later than 30 days after the date of the proceeding during which they were taken, and …
29 V.I.C. § 1107 Competitive bidding
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(a) All purchases and contracts for supplies for services, except for personnel services, made by the Authority, including contracts for the construction of facilities of the Authority, shall be made after advertisement for bids, sufficiently in advance of opening bids, for the A…
29 V.I.C. § 1108 Other assistance of Government of the Virgin Islands
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(a) For the purpose of further aiding the Authority in accomplishing its purpose and goals, any department or agency of the Virgin Islands or any political subdivision thereof may, at the request of the Authority and upon such terms, with or without consideration, as the Governor…
29 V.I.C. § 1109 Moneys and accounts of Authority
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(a) (1) All moneys of the Authority shall be deposited in qualified depositories for funds of the Government of the Virgin Islands, but they shall be kept in separate accounts in the name of the Authority. The disbursements shall be made by it pursuant to regulations and budgets …
29 V.I.C. § 1110 Financial assistance; guarantees and purchases of bonds of Authority; loans and grants
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(a) For the purpose of assisting the Authority with its financing, the Government of the Virgin Islands, to the extent permitted by the Revised Organic Act of 1954, as amended, or any other applicable Federal law, may:(1) guarantee payment of the bonds of the Authority, both as t…
29 V.I.C. § 1111 Injunctions
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An injunction shall not be granted to prevent the application of this chapter or any part thereof.
29 V.I.C. § 1112 Lack of jurisdiction of other agencies
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No officer, board, commission, department or other agency or political subdivision of the Virgin Islands shall have jurisdiction over the Authority in the management and control of its properties and facilities, or any power over the regulation of rates, fees, rentals and other c…
29 V.I.C. § 1113 Applicability of other laws
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Nothing in this chapter shall be construed as exempting the Authority from any law made specifically applicable thereto or generally applicable to independent instrumentalities of the Government of the Virgin Islands, whether such law was enacted before, on or after the creation …
29 V.I.C. § 1114 Separability of provisions
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If any provisions of this chapter or the application of such provisions to any person or circumstance shall be held invalid, the remainder of the chapter and the application of such provisions to persons or circumstances other than those as to which it shall have been held invali…
29 V.I.C. § 1115 Establishment of committees and subcommittees
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(a) The Board of Directors of the Authority shall administer the business of its subsidiary entities, the Economic Development Commission (EDC), Government Development Bank (GDB), Small Business Development Agency (SBDA), Industrial Development Park Corporation (IDPC) and the Ent…
29 V.I.C. § 1116 Economic Development Fund
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(a) There is established in the Treasury of the Government of the Virgin Islands a fund to be known as the “Economic Development Fund” (hereinafter the “Fund”). The Governing Board of the Authority shall provide for the administration of the Fund, and no amounts therein shall be …
29 V.I.C. § 1117 Economic Hardship Package
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(a) There is established under the control of the Economic Development Authority the “Economic Hardship Package” to provide low interest loans to small businesses to help secure their financial viability. (b) Loans shall be provided at a 3% interest rate to qualifying businesses.…
29 V.I.C. § 1200 Short title
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29 V.I.C. § 1200 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. § 1201 Definitions
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(a) For the purposes of this chapter, the term:(a) “Assessor” means the Tax Assessor, or such other person or office responsible for assessing the value of real property.(b) “Authority” means the Virgin Islands Economic Development Authority established under chapter 21 of title …
29 V.I.C. § 1202 Parameters of TIF Program
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(a) The TIF Program:(1) may use tax incremental financing for the financing of capital improvements in areas where a finding has been made by the Authority, and approved by the Legislature where the need for tax increment financing has been documented to be significant in enhanci…
29 V.I.C. § 1203 Powers of the Authority
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(a) The Authority has the following powers with respect to tax increment financing:(1) To make and execute contracts, and all other instruments desirable, convenient or necessary for the exercise of its powers and functions under this chapter, including agreements with note holde…
29 V.I.C. § 1203a Powers of the PFA
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(i) The PFA have the following powers with respect to tax increment financing:(i) To make contracts, incur liabilities, borrow money at such rates of interest, maturities and on such other terms and conditions as the PFA, in consultation with the Authority, may determine, issue i…
29 V.I.C. § 1204 Certification of TIF project eligibility
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(a) To be eligible for TIF, a development sponsor of any proposed project shall apply to the Authority for certification that the project complies with the requirements of this chapter. The application must contain a preliminary development plan for the project which consists of …
29 V.I.C. § 1205 Public hearing
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(a) Following the submission to the Authority of an application for tax increment financing under section 1204(a), the Authority shall call a public hearing concerning the suitability of the proposed project for TIF area. The hearing must be held within the District in which the …