Governor Albert Bryan Jr. has transmitted proposed legislation authorizing $250 million in gross-receipts-tax-backed bonds to the 36th Legislature. Submission begins legislative review; it does not authorize the borrowing by itself.
The proposal assigns $45 million to Schneider Regional Medical Center, $40 million to Juan F. Luis Hospital, $40 million to WAPA and $40 million to the Virgin Islands Waste Management Authority, for a combined $165 million.
The remaining allocation is $30 million for income-tax refunds and retroactive wages, $10 million for outstanding vendor obligations, $30 million to repay an existing government line of credit, and $15 million split equally among Legislative Branch, Judicial Branch and Economic Development Authority capital or economic-development needs.
Recipients would have to prepare five-year financial-sustainability plans, meet reporting and audit requirements, set measurable operating goals and undergo reviews and corrective action. Government House says the bill limits interest and repayment terms, but its release does not state an actual borrowing rate or complete debt-service schedule.
Government House should publish the draft bill, full allocation table, interest-rate cap, repayment schedule, debt-service source and measurable conditions for every recipient before the Legislature votes.
Source published October 23, 2026; official release does not display a publication time. Read the original reporting or release for the complete record.
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