52

of the fiseal year, the difference between the amount of duties, taxes
and fees Jess the cost of collecting all of said duties, tares, and fees, occurring before January £, 1982, actually collected during the prior fiscal year and the amount of such duties, taxes less the cost of collecting
all of suid duties, taxes, and fees, occuring before January 1, 1982, as
estimated and remitted at the beginning of that prior fiscal year,
including any deductions which may be required as a result of the
operation of Public Law94-392 (90 Stat. 1195).
a
(3) Subsection 28(a) of the Revised Organie Act of the Virgin

ment of the deht will have on the future economic situation of the .

Virgin Islands;
* [[(6) detail and discuss various alternatives available to the government of the Virgin Islands and the Federal Government to
revise and improve the process of supporting the necessary expenditures of the Virgin Islands Government; and
[(7) inelude his recommendations for any changes he deemsadvisable in the present Federal-territorial economic relationship.9
Acv or Mar. 2, 1917
(Ch. 145, 89 Stat. 951)
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*

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*

*

*

*

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Sec, 7, That all property which may have been acquired in Puerto
Rico by the United States under the cession of Spain in the treaty of
peace, ...inany public bridges, road houses, water powers, highways,
unnivigable streams and the beds thereof, subterranean waters, mines

Meee alee

.
.
[(1) identify, the specific sources of revenues, both Federal and
local, avatlable to the government of the Virgin Islands;
|
[(2) chart the revenues derived from each source and what, if
any, increases could be occasioned in the amount of such revenues
byactions of the Virgin Islands Government;.
mo
[(5) describe the extent to which changes in actual revenues
were occasioned by actions of the Federal Government or bycircumstances beyond the control of the Virgin Islands Government;
[(4) analyze expenditures to determine-what economies, if any,
could be obtained and identify the actions which could be taken
by the Virgin Islands Government to obtain such economies;
[(5) review the long term debt structure of the Virgin Islands
Government, including, but not limited to, whether such debt was
incurred for purposes authorized by law, the total amount of such
debt, the relation of the total debt ceiling, and the impactretire-

spesten, Re we ee ee

2 veport on the financial condition of the Virgin Islands. The report

shall:

Fe mt
pan (i ab ee SATERe gr 2a peee
5 ) err.Se
tes pe

Tslands is amended bydeleting the phrase “less the cost of collecting

all of said duties, taxes, and fees,”.
.
£(d) There are hereby authorized to be appropriated to the Secretary such sums as may be necessary, but not to exceed $20,000,000 per
annitn, for fiscal years 1979, 1980, and 1981 for grants to the government of the Virgin Islands to offset any anticipated. deficit during
such fiscal years. The Secretary is authorized and directed, after consultation with the Governor of the Virgin Islands, to impose such
conditions and requirements. on these grants as he deems advisable.
Not later than July 1, 1979, the Secretary shall submit to the Congress

Select target paragraph3