The Committee on Finance has split the 58-page Financial Accountability Bill into three sections to cover fiscal policies, economic stimulus and revenue enhancement separately.
During the committee meeting Tuesday, the $2.50 head tax on cruise ship passengers was removed from the bill as was the commuter incentive tax.
The head tax came under fire from members of the business community in May, causing Sen. Lorraine Berry, chair of the Finance Committee, to agree to hold off on passage of the bill until a meeting could be called between the groups concerned.
The meeting was held last Thursday and a task force will be formed consisting of cruise line representatives, members of the administration, representatives of the V.I. Port Authority, West Indian Co. Ltd. and members of the local chambers of commerce. The group is committed to coming up with a plan in the next 90 days.
Likewise the commuter incentive tax will be addressed by a cluster on tax reform – one of eight clusters that was formed after the economic summit in February. The recommendations will be submitted to the Finance Committee by July.
The three bills under the Financial Accountability Act were passed unanimously by the Finance Committee and sent on to the Rules Committee for consideration.
