To amend the Revised Organic Act of the Virgin Islands to provide for greater fiscal autonomy consistent with other United States jurisdictions, and for other purposes.
PL 106-84 (H.R.2841), enacted 10/28/1999

PUBLIC LAW 106-84—OCT. 28, 1999 
113 STAT. 1295 
Public Law 106-84 
106th Congress 
An Act 
Oct. 28, 1999 
[H.R. 2841] 
To amend the Revised Organic Act of the Virgin Islands to provide for greater 
fiscal autonomy consistent with other United States jurisdictions, aind for other 
purposes. 
Be it enacted by the Senate and House of Representatives of 
the United States of America in Congress assembled, 
SECTION 1. GREATER FISCAL AUTONOMY. 
(a) ISSUANCE.—Section 8(b)(ii)(A) of the Revised Organic Act 
of the Virgin Islands (48 U.S.C. 1574(b)(ii)(A)) is amended— 
(1) in the first sentence, by inserting after "other evidence 
of indebtedness" the following: ", including but not limited 
to notes in anticipation of the collection of taxes or revenues, 
(2) by striking "to construct, improve, extend" and all that 
follows through "Provided, That no public" and inserting "for 
any public purpose authorized by the legislature: Provided, 
That no such"; and 
(3) by striking "and payable semiannually. All such bonds 
shall be sold for not less than the principal amount thereof 
plus accrued interest". 
(b) TECHNICAL CORRECTIONS AND CONFORMING AMENDMENTS.— 
(1) REPEAL.—Section 8(b)(ii)(B) of the Revised Organic Act 
of the Virgin Islands (48 U.S.C. 1574(b)(ii)(B)) is repealed. 
(2) REDESIGNATION.—Section 8(b)(ii)(C) of the Revised 
Organic Act of the Virgin Islands (48 U.S.C. 1574(b)(ii)(C)) 
is redesignated as section 8(b)(ii)(B). 
(3) REDUNDANT PROVISION.—Section 1 of Pubhc Law 94-
392 (90 Stat. 1193) is amended by striking subsection (d). 48 USC 1574a. 
SEC. 2. AGREEMENT. 
(a) IN GENERAL.—The Secretary of the Interior is authorized 
to enter into an agreement with the Governor of the Virgin Islands 
establishing mutually agreed financial accountability and perform-
ance standards for the fiscal operations of the Gk)vernment of the 
Virgin Islands. 
(b) TRANSMISSION TO CONGRESS.—Upon ratification of the 
agreement authorized in subsection (a) by both parties, the Sec-
ret£iry sheJl forward a copy of the agreement to the Committee 
on Resources in the House of Representatives and the Committee 
on Energy and Natural Resources in the Senate. 
SEC. 3. EFFECTIVE DATES. 
Applicability. 
(a) IN GENERAL.—Except as provided by subsection (b), the note. 
amendments made by section 1 shall apply to those instruments 
48 USC 1631 
note. 
113 STAT. 1296 
PUBLIC LAW 106-84—OCT. 28, 1999 
of indebtedness issued by the Government of the Virgin Islands 
after the date of the enactment of this Act. 
(b) EFFECT OF FAILURE TO REACH AGREEMENT.—If the agree-
ment authorized in section 2(a) is not ratified by both parties 
on or before December 31, 1999, the amendments made by section 
1— 
(A) shall not apply to instruments of indebtedness issued 
by the Government of the Virgin Islands on or after December 
31, 1999; and 
(B) shall continue to apply to those instruments of indebted-
ness issued by the Government of the Virgin Islands after 
the date of the enactment of this Act and before December 
31, 1999. 
48 u s e 1574 
SEC. 4. CONSTRUCTION. 
These amendments to the Revised Organic Act of the Virgin 
Islands are not intended to modify the internal revenue laws. Thus, 
the bonds authorized by this bill must comply with subsection 
(c) of section 149 of the Internal Revenue Code of 1986 (which 
requires the new bonds comply with the appropriate requirements 
of the Internal Revenue Code). 
Approved October 28, 1999. 
LEGISLATIVE HISTORY—H.R. 2841: 
HOUSE REPORTS: No. 106-337 (Comm. on Resources). 
CONGRESSIONAL RECORD, Vol. 145 (1999): 
Sept. 27, considered and passed House. 
Oct. 19, considered and passed Senate.