|
| Enterprise Zone Law |
 |
HISTORY: --Added Sept. 14, 1999, No. 6294, § 2, Sess. L. 1999, p. 88.
NOTES:
HIERARCHY NOTES:
Tit. 29 Note
Tit. 29, Ch. 19 Note
§ 1012. Hiring of VI residents; competitive bidding procedures
- Any business granted benefits pursuant to this chapter shall agree in writing to employ, and to require all contractors retained by the business to employ persons who are residents of the Virgin Islands.
- Any business granted benefits pursuant to this chapter shall similarly agree, and must require all contractors retained by the business to agree, to contract for services with and purchase goods, materials and supplies from those persons who are residents of the Virgin Islands and those entities that are incorporated or registered under the laws of the Virgin Islands, and who are duly licensed to do business in the Virgin Islands and have been so duly licensed for at least one year prior to the initial date of any such purchase, contract, or subcontract, provided that the bid of such resident or entity does not exceed the bid of any nonresident person or entity by more than fifteen percent (15%). Each Enterprise Zone business and all contractors and subcontractors of such business must invite competitive bidding for all services, goods, and materials pursuant to the publication requirements of Title 31, Chapter 23, section 236, Virgin Islands Code, and must apprise each bidder in writing of the name of the successful bidder and the amount of his bid within thirty (30) days after awarding the bid.
HISTORY: --Added Sept. 14, 1999, No. 6294, § 2, Sess. L. 1999, p. 88.
NOTES:
HIERARCHY NOTES:
Tit. 29 Note
Tit. 29, Ch. 19 Note
§ 1013. Industrial development benefits beneficiary exclusion
- Beneficiaries of the Industrial Development Program in Title 29, Chapter 12, Virgin Islands Code, shall not be eligible to be designated as Enterprise Zone Businesses nor to receive benefits authorized pursuant to the provisions of this Chapter.
- An individual or entity that was formerly a beneficiary of the Industrial Development Program can, however, apply for benefits as an Enterprise Zone Business, and a current beneficiary of the Industrial Development Program can apply for benefits as an Enterprise Zone Business and terminate its benefits under the Industrial Development Program as of the effective date of its benefits as an Enterprise Zone Business.
- An Enterprise Zone Business can similarly apply for benefits under the Industrial Development Program and, upon the receipt of such benefits, elect to terminate its benefits under the Enterprise Zone Program as of the effective date of its benefits under the Industrial Development Program.
HISTORY: --Added Sept. 14, 1999, No. 6294, § 2, Sess. L. 1999, p. 88.
NOTES:
HIERARCHY NOTES:
Tit. 29 Note
Tit. 29, Ch. 19 Note
|
|
