FINANCE

  • Members

  • Committee of Finance

  • Committee Files

Chair: Senator Kurt A. Vialet 

Vice Chair: Senator Marvin A. Blyden

Members:

Senator Neville A. James

Senator Nereida Rivera-O'Reilly

Senator At Large Brian A. Smith

Senator Tregenza A. Roach

Senator Dwayne M. DeGraff

The jurisdiction of Committee on Finance is entitled to meet every 1st
and 3rd Tuesday of each month or at the discretion of the chairperson. Budget hearings conducted
by the Committee on Finance preempt any other committee meetings when notice is given in
accordance with section 509 of these Rules. The jurisdiction of the Committee on Finance
encompasses and the Committee shall:  

(1) receive, consider and make recommendations on all appropriation bills,
including, but not limited to, the annual budget of the Government of the Virgin Islands
and bills of claim, but this jurisdiction does not extend to the allocation of appropriations
for the expenses of the Legislature which falls within the jurisdiction of the Committee on
Rules;

(2) receive, consider, and make recommendations on all bills relating to banks
and banking, insurance and insurance companies, building and loan companies, and
financial institutions of all kinds;

(3) receive, consider, and make recommendations on all bills affecting the
raising of revenues for or expenditure of funds from the Treasury of the Government of the
Virgin Islands, including public investments and bonds;

(4) review and investigate as it considers necessary the operations of the
Department of Finance, Department of Property and Procurement, the Bureau of Internal
Revenue, the Office of the Virgin Islands Inspector General, the Virgin Islands Lottery, the
Office of Management and Budget, the Department of Property and Procurement, the
Office of the Inspector General, the Government Employees Retirement System and the
financial affairs of all other departments and instrumentalities of the Government of the
Virgin Islands not inconsistent with the applicable law;

(5) ascertain and report, from time to time, on the financial condition of the
Government of the Virgin Islands;

(6) study, investigate and recommend, as it finds necessary, ways to meet the
financial obligations, both existing and proposed, of the Government of the Virgin Islands;

(7) receive, consider and make recommendations on bills relating to any other
board, commission or agency whose operation or nature of business is relevant to the
operation of the Committee on Finance; and

(8) receive, consider and make recommendations on all lease, franchise,
public/private, concession, tax incentive and other agreements requiring legislative
ratification or approval.
(b) The general appropriation bills for the succeeding fiscal year covering items set
forth in the budget must be passed or defeated in the Senate before it passes any appropriation bill
for items not in the budget, except bills supplementing appropriations for the current fiscal year’s
operation.
(c) Any bill containing an appropriation to carry out its purpose is considered an
appropriation bill. Appropriation bills, when reported back to the Senate favorably by a committee
other than the Committee on Finance must, together with amendments proposed by that committee,
be referred to the Committee on Finance for consideration. One of the general appropriation bills
as passed by the Senate must contain an itemized statement of estimated revenue by a major source
in each operating fund for the ensuing fiscal year, the total of which may not be less than the total
of all appropriations made from each fund in the general appropriation bills as passed.

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