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 the mixing and mastering process. (2) “Certificate” means the Certificate […]
(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 placing of appropriate advertising in various cinematography, music industry and other national and international […]
(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) Prepare and submit annual reports to the Governor and the Legislature containing […]
(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 subchapter for the granting of an initial certificate. (c) […]
(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 under section 747d(c)(2)(B) have the burden of demonstrating to the […]
(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 partnerships shall include a list of the names and addresses of the partners. All […]
(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 must be issued by the Director in the name of the Government of […]
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 determination of the Director that the corporation is otherwise qualified to receive […]
(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 under this subchapter; (2) certification received by the Director from the Lieutenant Governor […]
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 Governor.
The Commissioner may, pursuant to chapter 35 of this title, promulgate regulations to carry out the purpose of this subchapter.
(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 continuation or extension of the benefits, or who willfully makes or presents […]
