[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1035 Introduced in House (IH)]
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118th CONGRESS
1st Session
H. R. 1035
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.
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IN THE HOUSE OF REPRESENTATIVES
February 14, 2023
Ms. Plaskett introduced the following bill; which was referred to the
Committee on Ways and Means
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A BILL
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.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. FUEL TAX COVERED OVER INTO VIRGIN ISLANDS TREASURY.
(a) In General.--Section 7652 of the Internal Revenue Code of 1986
is amended by adding at the end the following new subsection:
``(j) 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.''.
(b) Effective Date.--The amendment made by this section shall apply
to fuel entered into the United States after December 31, 2022.
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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.
#1035 | HR Congress #118
Policy Area: Taxation
Last Action: Referred to the House Committee on Ways and Means. (2/14/2023)
Bill Text Source: Congress.gov
Summary and Impacts
Original Text