H. R. 366 seeks to modify the Internal Revenue Code of 1986 to ensure that taxes collected on fuel produced in the Virgin Islands and brought into the United States are directed to the Virgin Islands' treasury. This legislation was introduced on January 13, 2025, in the House of...
Simple Explanation
The bill wants to make sure that when fuel from the Virgin Islands is sold in the United States, the money collected from taxes goes back to the Virgin Islands instead of staying in the U.S. bank.