1017f

(a) Beneficiaries of the Economic Development Program in title 29 Virgin Islands Code, chapter 12 shall not be eligible to be designated as Commercial Zone Businesses nor to receive benefits authorized pursuant to the provisions of this subchapter.\n(b) An individual or entity that was formerly a beneficiary of the Economic Development Program may, however, apply for benefits as a Commercial Zone Business, and a current beneficiary of the Economic Development Program may apply for benefits as a Commercial Zone Business if such beneficiary terminates its benefits under the Economic Development Program as of the effective date of its benefits as a Commercial Zone Business.\n(c) A commercial Zone Business may apply for benefits under the Economic Development Program and upon the receipt of such benefits must elect to terminate its benefits under the Commercial Zone Program as of the effective date of its benefits under the Economic Development Program.