A new ruling by the Federal Energy Regulatory Commission (FERC) has opened the doors to connect more solar arrays and wind farms to the power grid. FERC’s new ruling in Order 792, updates its existing rules for small generators to reflect the latest developments in the energy storage field. The new order adds energy storage as a power source that is eligible to connect to the grid, effectively giving energy storage the same status and inclusion in the same category as the existing Small Generator Interconnection Procedures. It also makes energy storage eligible for the existing fast track process.
After 12 years of marking time in legal limbo, the United States Virgin Islands Attorney General Vincent Frazer approved the Virgin Islands Internet Gaming and Internet Gambling Act.
The Virgin Islands Casino Control Commission and the Office of the Governor recently confirmed the legality of the "Virgin Islands Internet Gaming Act". “This marks a turning point in the diversification of our gaming industry from land-based casinos and racinos, to internet gaming. The implementation of this Act will fulfill our mission of attracting very successful global internet gaming companies to the Virgin Islands, and encourage new investments to our struggling economy." Governor de Jongh said.
The U.S. Virgin Islands Energy Road Map, an analysis by the National Renewable Energy Laboratory at the U.S. Department of Energy thinks so. Today’s state-of-the-art commercial equipment usually captures about 45% of the available energy in the wind when operating at maximum efficiency. Nonetheless, wind power is thought to be among the lowest cost renewable energy technologies. In light of this, it has enjoyed remarkable growth throughout the world in the last 15 years.
Last Friday, U.S. Virgin Islands Governor John P. deJongh signed into law Act No. 7485 amending Title 8, Virgin Islands Code by adding Chapter 8. This new law shields individuals who serve and sell alcoholic beverages to persons of drinking age from liability. Thel legislation, however, does not extend the liability exemption to those selling or furnishing alcoholic beverages to monorss or those addicted to alcohol. Laws such as Act No. 7485 are known as "dram shop laws" which are state or territorial laws pertaining to selling and serving alcoholic beverages and the public liability these activities may entail.
In response to the closure of the HOVENSA oil refinery, the United States Virgin Islands single largest private employer, the Territory’s Delagate to Congresss, Donna Christensen, is pursuing an Economic Disaster Declaration by President Obama.
“I know that is what the car industry got, and while this is on a smaller scale, for our territory, with its 110,000 population to lose over 2,000 jobs and its main supplier of energy, it is an economic disaster,” she said in a meeting with Department of Commerce officials this past week.
The Uniform Law Commission (ULC, also known as the National Conference of Commissioners on Uniform State Laws), established in 1892, provides states with non-partisan, well-conceived and well-drafted legislation that brings clarity and stability to critical areas of state statutory law.
Guam Delegate Madeleine Bordallo has introduced the "Territories Economic Development Opportunities Act," which allows the U.S. territories to participate in federal government-funded highway discretionary programs. Such programs include funding for ferries or ferry terminals, as well as the Federal Bridge Program.
Current law prohibits the U.S. Virgin Islands, American Samoa, Guam and the Commonwealth of the Northern Mariana Islands from competing for these programs.
Governor John P. deJongh, Jr. submitted his $1.2 billion Fiscal Year 2012 budget proposal to the the 29th Legislature of the Virgin Islands on Friday.
Of the total budget, $731.3 million would come from the General Fund – $50.6 million less than the FY 2011 budget. The remaining budget would derive revenues from federal funds and special funds.
The USVI attracts many businesses to its shores by offering generous tax incentives to qualifying companies that are approved by the Economic Development Commission (“EDC”). However, fewer people seem to be aware that those same benefits—90% reduction in income tax liability; 100% exemption on real property taxes, gross receipts taxes, and excise taxes, and a reduction in customs duties—are available to technology-based businesses through partnership with the University of the Virgin Islands Research and Technology Park the (“Technology Park” or “Park.”)