H.R. 95 · 111th Congress
Virgin Islands Improvement Act of 2009
- Stage
- In committee
- Sponsor
- Donna Christensen
- Introduced
- 2009-01-06
- Latest action
- 2009-01-06 · Introduced in House
Summary
Virgin Islands Improvement Act of 2009 - Amends the Internal Revenue Code to provide for a reduction of taxes on distributions from certain retirement savings plans designated as being under investment by the Virgin Islands Investment Program for at least 30 years. Defines "Virgin Islands Investment Program" for purposes of this Act as a fund with managed amounts of $50 billion or less. Imposes a 1% annual tax on managed funds to benefit Virgin Island infrastructure development.