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.
About This Bill
Committee
Latest Action · January 13, 2025
Referred to the House Committee on Ways and Means.
H.R. 366 would direct federal fuel tax revenue back to the U.S. Virgin Islands' treasury. Specifically, the bill amends the tax code to require that all federal excise taxes collected on fuel produced in the Virgin Islands and shipped to the United States be paid directly to the Virgin Islands government instead of going into the U.S. Treasury. The change would affect fuel producers and distributors in the territory, as well as the Virgin Islands' finances. The bill would take effect retroactively for fuel entered into the U.S. market after December 31, 2024, and does not specify any limit on the funding amount or duration.
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