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.

This bill proposes an amendment to the Internal Revenue Code of 1986 , specifically Section 7652, to reallocate certain tax revenues. Its primary purpose is to ensure that all taxes collected on fuel originating from the Virgin Islands are directed to the Virgin Islands' treasury. Under this amendment, taxes levied under Section 4081(a) on fuel that is both produced in the Virgin Islands and subsequently entered into the United States will no longer go to the U.S. Treasury. Instead, these funds will be covered into the treasury of the Virgin Islands, providing a direct revenue stream to the territory. This provision is set to become effective for all fuel entered into the United States after December 31, 2024 .