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advance, adjusted to the nearest one-eighth of 1 per centum. All sums

so withheld shall be deposited in the Treasury of the United States
as miscellaneous receipts.q
:
All amounts heretofore withheld from sums collected pursuant to
section 80 of the said Organic Act as intcrest on the amounts made
availuble to the government of Guam pursuant to this Act shall be
credited as reimbursement payments by Guam on the principal amount |
advanced by the United States under this Act.
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(48 U.S.C. 1642 et seq.)
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FISCAL PROVISIONS
§ 28. [Disposition of revenues—Use ofcertain proceeds for expenditures; income tax obligations of inhabitants]
(a) The proceeds of customs duties, the proceeds of the United.
States incometax, the praceeds of any taxes levied by the Congress on
the inhabitants of the Virgin Island, and the proceedsof all quarantine, passpert, immigration, and naturalization fees collected in the
Virgin Islands, less the cost of collecting, except any costs for preclearance operations which shall not be deducted, of all said duties,
taxes, and fees from August 18, 1978, until January 1, 1982, shall be
covered into the treasury of the Virgin Islands, and shall be available
for expenditure as the Legislature of the Virgin Islands may provide:

Provided, That the term “inhabitants of the Virgin Islands” as used

in this section shall include all persons whose permanent residence is in
the Virgin Islands, and such persons shall satisfy their income tax
obligations under applicable taxing statutes of the United States by
p:ying their tax on income derived fromall sources both within and |
outside the Virgin Islands mto the treasury of the Virgin Islands:
Provided further, That nothing in this Act shall be construed to apply
to any tax specified in section 311 of the Internal Revenue Cade.
§ 31. [Lease, sale, and control] of public property]

(2) The Seeretary of the Interior shall be authorized to lease or to
sell upon such terms as he may-deem advantageous to the Government
of the United States any property of the United States under his
administrative supervision in the Virgin Islands not needed for public

purposes.

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comparable maturities as of the last day of the month preceding tho

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2 hereof.
[The foregoing amounts, until reimbursed to the United States,
shall bear interest beginning July 1, 1968, at a rate determined
by the Secretary of the Treasury, which rate shall be determined by
the Secretary of the Treasury, taking into consideration the average
yield on outstanding marketable obligations of the United States of

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(b) 100 per centum of such moneys as are paid undersection 2
hereof for use by the Government of Guam to permit Guam to
qualify for participation in Federal programs; and
(c) 50 per centum of all other moneys as are paid undersection

Select target paragraph3