
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 48USC1401b]

 
              TITLE 48--TERRITORIES AND INSULAR POSSESSIONS
 
                        CHAPTER 7--VIRGIN ISLANDS
 
                    SUBCHAPTER I--GENERAL PROVISIONS
 
Sec. 1401b. Rate of tax in absence of local laws; regulations by 
        President for assessment and collection pending adoption of 
        local laws
        
    Until local tax laws conforming to the requirements of sections 1401 
to 1401e of this title are in effect in a municipality the tax on real 
property in such municipality for any calendar year shall be at the rate 
of 1.25 per centum of the assessed value. If the legislative authority 
of a municipality failed to enact laws for the levy, assessment, 
collection, or enforcement of any tax imposed under authority of said 
sections, within three months after May 26, 1936, the President shall 
prescribe regulations for the levy, assessment, collection, and 
enforcement of such tax, which shall be in effect until the legislative 
authority of such municipality shall make regulations for such purposes.

(May 26, 1936, ch. 450, Sec. 3, 49 Stat. 1372.)


                            Cross References

    Excess or additional rate of taxation for servicing outstanding 
bonds authorized, see section 1403 of this title.

                  Section Referred to in Other Sections

    This section is referred to in section 1401e of this title.
