Government

DeGazon-Sponsored Bill With Far-Reaching Implications for Local Real Estate Industry Held in Committee

A measure that could seriously change the Virgin Islands' current real estate licensing laws was held in the Committee on Economic Development, Regulations, and Agriculture during a hearing last week, with testifiers expressing a number of concerns with the measure. Sponsored by Senator Allison DeGazon, Bill No. 33-0350 seeks to amend V.I. Code to update the requirement for real estate broker and sales associate licensure in the territory. Attorney Nesha Christian-Hendrickson, president of the Virgin Islands Bar Association (V.I.B.A.), outlined in her testimony that there were several significant issues that have prevented V.I.B.A. from supporting the bill. The first issue she addressed was changes the measure seeks to make to the VI Real Estate Commission. If Bill 33-0350 were to pass as is, it would amend 27 V.I.C. § 421a(b) to alter the composition of the Virgin Islands Real Estate Commission. These changes would require the commission to "include at least one representative from ...