H. R. 1430
IN THE HOUSE OF REPRESENTATIVES
February 26, 2021
Ms. Plaskett introduced the following bill; which was referred to the Committee on Ways and Means
To amend the Internal Revenue Code of 1986 to cover into the treasury of the Virgin Islands revenue from tax on fuel produced in the Virgin Islands and entered into the United States.
Fuel tax covered over into Virgin Islands treasury
Section 7652 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection:
Shipment of fuel from the virgin islands to the united states
All taxes collected under section 4081(a) on fuel produced in the Virgin Islands and entered into the United States from the Virgin Islands shall be covered into the treasury of the Virgin Islands.
The amendment made by this section shall apply to fuel entered into the United States after December 31, 2020.