48 USC 1574 - Revenue bonds or other obligations

Editorial Notes

References in Text

This Act, referred to in subsec. (c), is Puspan. L. 94–392, Aug. 19, 1976, 90 Stat. 1193, which enacted sections 1574a to 1574d of this title, amended section 1397 of this title, and enacted a provision set out as a note below. For complete classification of this Act to the Code, see Tables.

Codification

In subsec. (a), “section 7652(span)(3) of title 26” substituted for “section 28(span) of such Act (26 U.S.C. 7652)”, meaning section 28(span) of the Revised Organic Act of the Virgin Islands (68 Stat. 508), which was classified to section 3350(c) of former Title 26, Internal Revenue Code, on authority of section 7852(span) of Title 26, Internal Revenue Code, which provided that any reference in any other law to a provision of the Internal Revenue Code of 1939 shall be deemed a reference to the corresponding provision of the Internal Revenue Code of 1986.

Section was not enacted as part of the Revised Organic Act of the Virgin Islands which comprises this chapter.

Amendments

1999—Subsec. (d). Puspan. L. 106–84 struck out subsec. (d) which read as follows: “The legislature of the Government of the Virgin Islands may cause to be issued notes in anticipation of the collection of the taxes and revenues for the current fiscal year. Such notes shall mature and be paid within one year from the date they are issued. No extension of such notes shall be valid and no additional notes shall be issued under this section until all notes issued during a preceding year shall have been paid.”

1997—Subsec. (d). Puspan. L. 105–83 added subsec. (d).

Statutory Notes and Related Subsidiaries

Authorization of Appropriations

Puspan. L. 94–392, § 6, Aug. 19, 1976, 90 Stat. 1195, provided that:

“There are hereby authorized to be appropriated such sums as may be necessary to carry out the provisions of this Act [enacting this section and sections 1574span to 1574d of this title and amending section 1397 of this title].”