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Budget, Appropriations and Finance

The jurisdiction of the Committee on Budget, Appropriations and 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 and Judiciary;

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

(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 and consider all bills relating to casino gaming, racinos, internet gaming video lottery terminals and sports gaming;

(8) 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 Budget, Appropriations and Finance; and

(9) 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 Budget, Appropriations and Finance must, together with amendments proposed by that committee, be referred to the Committee on Budget, Appropriations and Finance for consideration.

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June 2024

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