(a) Notwithstanding the provisions of any law, rule or regulation to the contrary, every casino licensee shall establish goals of expending at least 65% of the dollar value of its purchased goods and services with bona fide residents business enterprises. Each casino licensee shall be required to demonstrate annually to the Commission that the requirements of this act have been met, by submitting a report which shall include the total dollar value of purchases for goods or services and the percentage thereof awarded to bona fide resident business enterprises.
(1) utilities and taxes;
(2) financing costs, such as mortgages, loans or any other type of debt;
(3) medical insurance;
(4) fees to the Virgin Islands Casino Control Commission;
(5) fees and payments to a parent or affiliated company of the casino licensee other than those that represent fees and payments for goods and services supplied by non-affiliated persons through an affiliated company for the use or benefit of the casino licensee; and
(6) rents paid for real property and any payments constituting the price of an interest in real property as a result of a real estate transaction.
(b) Notwithstanding the provisions of any law, rule, or regulation to the contrary, every casino licensee licensed to do business in the Virgin Islands shall lease at least fifty (50%) percent of the retail establishment space within any casino licensee's hotel and/or casino to bona fide resident businesses, and shall limit the amount of non-bona fide resident businesses to no more than fifty thousand (50,000) square feet within any casino licensee's hotel and/or casino. This square footage requirement shall not apply to bars, restaurants and laundries within a casino and/or related hotel.
(c) A casino licensee shall make a good faith effort to meet the requirements of this section and shall annually demonstrate to the Commission that such an effort was made.