Committee on Budget, Appropriations and Finance

The 35th Legislature’s Committee on Budget, Appropriations and Finance will meet on Tuesday, March 5, 2024, at 10:00 a.m. in the Earle B. Ottley Legislative Hall, St. Thomas, U.S. Virgin Islands.

BLOCK I

The Committee will receive testimony from the West Indian Company Limited on the following:

• Financial overview of the West Indian Company Limited for FY 2023 and FY 2024.
• Status of the outstanding amount owed to the central government on the payment in lieu of taxes.
• Update on capital projects.

 Invited Testifier:

Mr. Anthony Ottley, President & Chief Executive Officer, The West Indian Company Limited

 BLOCK II

 Bill No. 35-0196        An Act to amend title 3, Virgin Islands Code, sections 717(c) and 766(c) to establish a deadline for the GERS to resume the personal loan program, remove the $10,000,000 annual aggregate amount and the 8% interest rate cap, limit the system’s liability to $75,000, and set a parameter in section 717 that all loans must be structured such that the payoff date occurs before the retiree reaches age 70.

Invited Testifiers:

Mr. Angel E. Dawson Jr., Administrator, Government Employees ’Retirement System

Mr. Dwane Callwood, Sr., Board Chairman, GERS Governing Board