HR 3367 · 110th Congress · Taxation

Virgin Islands Improvement Act of 2007

Introduced 2007-08-03· Sponsored by Del. Christensen, Donna M. [D-VI-At Large]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2007-08-03)

Plain Language Summary

[AI summary unavailable — showing source text] Virgin Islands Improvement Act of 2007 - Amends the Internal Revenue Code to provide for a reduction of taxes on distributions from certain retirement savings plans designated as being under investment by the Virgin Islands Investment Program for at least 30 years. Defines "Virgin Islands Investment Program" for purposes of this Act as a fund with managed amounts of less than $50 billion. Imposes a 1% annual tax on managed funds to benefit Virgin Island infrastructure development.…

Summarized by Claude AI · Non-partisan · For informational purposes only