“Proposed Amendment: Transparency in VIPA Fee Changes (Title 29, Chapter 10, §543(12))”
Senator Angel L. Bolques Jr. is proposing an amendment to Title 29, Chapter 10, §543(12) to require the Virgin Islands Port Authority (VIPA) to publish a Rate Justification Report, based on an economic impact analysis on port users, shippers, and other affected stakeholders; hold a public comment period, and provide advance notice to the Legislature and public before increasing any port fees.
DRAFT LANGUAGE:
Inserted Text (as part of Section 12):
Provided further, that prior to any proposal to alter the general rate structure, the Authority shall:
1. Prepare and publish a Rate Justification Report, which shall:
o Detail the projected revenues and expenditures justifying the proposed rate change;
o Include an economic impact analysis on port users, shippers, and other affected stakeholders;
o Provide a comparison of current rates with comparable regional or national port authorities;
o Specify how the new rates align with the Authority’s obligations under this chapter, including debt service, operations, and maintenance.
2. Submit such a report to the Governor and the Legislature of the Virgin Islands no fewer than 60 days before the proposed implementation date.
3. Make the full report publicly available on the Authority’s website and at its main offices at least 30 days before the scheduled public hearings required under this section.
4. Include in its public hearing notice a summary of the proposed rate changes, the rationale for such changes, and a public comment period of no less than 21 days.
5. Include in the hearing record all written public comments received, and respond in writing to substantive concerns prior to final adoption of the rate change.
6. The Legislature may, by resolution, request an independent audit or review of any rate justification report submitted by the Authority, particularly where the proposed rate increases exceed 100% of the existing rates or fees.
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