Congress·In Committee·H.R. 858

REVIVE VI Act

U.S. Virgin Islands: Tax Relief for Local Services

Jan 31, 2025·View on Congress.gov·Read full text

This bill is one vehicle in a longer effort. See the full story across every version.View effort →

Next up: A house committeeNo action in 17 months

The REVIVE VI Act was introduced in the House and is currently being reviewed by the House Committee on Ways and Means. No further actions are scheduled at this time. The bill is still in the early stages of the legislative process.

Legislative Progress

House

Senate

President

Law

Could go either way

The bill has strong bipartisan support from members of the powerful House Ways and Means Committee, but tax changes for territories often face a long road in a crowded legislative calendar.

How we got here

This bill’s path across every version that has carried it.

Reintroduced
Reintroduced from H.R. 10503 (118th), which died when its Congress ended.
H.R. 10503 (118th) →

Key Points

This bill changes tax rules for people and small companies that own businesses in the U.S. Virgin Islands. It stops the federal government from applying a specific global tax to money earned from services performed within the islands.
To qualify for this tax break, the money must come from labor or personal services done by a company based in the Virgin Islands. The work must be performed by people physically located in the islands rather than elsewhere.
The goal is to encourage more investment and job growth in the U.S. Virgin Islands. By lowering the tax burden on local service businesses, lawmakers hope to make the islands a more attractive place to do business and hire workers.
This change would apply to individuals, trusts, and some small corporations that owned their stake in a Virgin Islands company before the end of 2023. It aims to protect existing local investments from being taxed like foreign offshore accounts.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.

Milestones

2 milestones2 actions

Jan 31, 2025House

Referred to the House Committee on Ways and Means.

Jan 31, 2025

Introduced in House

The bill was officially filed and given a number. It now enters the legislative queue.

No votes or news coverage recorded for this bill yet.

Source Information

Document Type

Congressional Bill

Official Title

REVIVE VI Act

Bill NumberHR 858

Congress119th Congress

ChamberHouse of Representatives

Latest ActionReferred to the House Committee on Ways and Means.

Data Sources

Congress.gov

Official legislative information

Read Full Bill Text

Sponsor

Cosponsors

(8)

D: 4R: 4

Analysis generated by AI. Always verify with official sources.