Introduced in House

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 366 Introduced in House (IH)] 119th CONGRESS 1st Session H. R. 366 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. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES January 13, 2025 Ms. Plaskett introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ 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.

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, 2024.