Powers and duties of the commission

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  • In addition to the powers enumerated in title 29 Virgin Islands Code, chapter 19, section 1007, the Commission shall:
    • (1) Develop application procedures for demonstrating compliance with section 1021 of this subchapter and for obtaining the benefits set out under section 1017e of this subchapter, which may include public hearings by the Commission;

    • (2) Oversee and monitor the implementation of this subchapter;

    • (3) Determine compliance of the beneficiaries with the provisions of this subchapter and all regulations promulgated hereunder;

    • (4) Actively promote and publicize the Commercial Zone Program, including, preparing, purchasing, and distributing by mail, the internet, or other means, material concerning Commercial Zones;

    • (5) Provide technical and business assistance related to tax incentives and the development of alternative revenue sources to businesses within each Commercial Zone;

    • (6) Coordinate Federal and Territorial business assistance programs and in cooperation with the appropriate Federal and Territorial departments or agencies, help streamline permit and license application procedures for businesses located in Commercial zones;

    • (7) Work with the appropriate Federal and Territorial departments and agencies to coordinate the Commercial Zone Program with other programs carried out in the territory, including without limitation, economic development programs, programs providing financial and other assistance to small businesses, programs providing transportation assistance, and job training programs;

    • (8) Apply or work with beneficiaries of the Commercial Zone Program to apply for Federal and Territorial grants, loans, and services that benefit businesses in a Commercial Zone;

    • (9) Monitor enterprises that are established in or relocated to a Commercial Zone and that qualify for the incentives provided for in section 1025 of this subchapter; and

    • (10) Prepare and promulgate such rules and regulations as may be necessary to compliment the provisions of this subchapter. Such rules and regulations shall have the force of law upon approval by the governor and promulgated in accordance with chapter 35 of title 3 Virgin Islands Code.


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