An Act to authorize the government of the Virgin Islands to issue bonds in anticipation of revenue receipts and to authorize the guarantee of such bonds by the United States under specified conditions, and for other purposes.

Summary

Authorizes the government of the Virgin Islands to levy a surtax on future income taxes payable to itself, which will not exceed ten percent. Authorizes $15,000,000 in loan funds to be appropriated for the government of the Virgin Islands' operating expenses. Authorizes $61,000,000 to be appropriated for loans for the capital improvement program of the Virgin Islands. States the conditions for extension and repayment of such loans. Empowers the Secretary of the Interior to place stipulations on such loans as he deems necessary. Provides an approval procedure for the Legislature of the Virgin Islands with regard to any loan request made by the Governor.

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Documents

3 official files

• Public Law (PDF)

  Public Law · EN · 20 August 1976

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• Reported to Senate with amendment(s)

  summary · EN · 30 June 1976

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• Introduced in House

  summary · EN · 28 April 1976

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