Re: Virgin Islands Financial Services Improvement and Corporate Modernization Act

Dear Jeff-

Here is what I am going to call the "First Draft" of the legislation. It is a cleaned up version of what I sent you Friday and it has both (minor) substantive differences and formatting/renumbering changes, etc. It also has a four-page explanation section at the end that reviews the bill and goes into detail on some of the important elements.

Please review and provide comments. I am also going to share this now with Peter Hiebert and Barry Hart as well as with others in our firm who have worked on the bill.

In addition to comments and changes you may have, I expect that Peter and Barry, as well as other attorneys in both firms will have some further suggestions which we will need to incorporate in future drafts before we send it on to the governor.

Also, the bill has not yet been thoroughly proofread or checked for consistent formatting. That will happen toward the end after any substantive changes are made, but if you discover any errors, please let me know.

Also, let me know when you want to schedule a call to discuss.

Yours,

Bill Blum

does it deal with inbound and outbound to the u.s. ? 367=C2 etc, , or exit tax ?