To amend the Internal Revenue Code of 1986 to cover into the treasury of the Virgin Islands revenue from tax on fuel produced in the Virgin Islands and entered into the United States.

H.R. 1035 would require the federal government to transfer tax revenue collected from fuel produced in the U.S. Virgin Islands and brought into the United States back to the territory’s treasury. Currently, while similar "cover over" arrangements exist for other products like rum, this bill specifically targets excise taxes on fuel to ensure those funds are returned to the local government where the fuel was manufactured. For citizens of the U.S. Virgin Islands, this measure is intended to increase the territory’s internal revenue, providing additional funding for local public services and infrastructure projects.