To create the Office of Chief Financial Officer of the Government of the Virgin Islands, and for other purposes.

(This measure has not been amended since it was reported to the House on July 17, 2012. The summary of that version is repeated here.)

Requires the Governor of the Virgin Islands to appoint a Chief Financial Officer, with the advice and consent of the Legislature of the Virgin Islands, from a list required by this Act. States that if: (1) the Legislature has not confirmed a nominee within 90 days of receiving such list the Governor shall appoint a Chief Financial Officer on an acting basis until the Legislature consents to a Chief Financial Officer, (2) a Chief Financial Officer has not been appointed within 180 days after enactment of this Act the Virgin Islands Chief Financial Officer Search Commission shall appoint from such list an Acting Chief Financial Officer until a Chief Financial Officer is appointed, and (3) the Acting Chief Financial Officer serving in an acting capacity for 180 consecutive days shall become the Chief Financial Officer.

Sets forth the Chief Financial Officer's duties.

Directs the Board of Elections of the Virgin Islands, as part of the closest regularly scheduled, islands-wide election in the Virgin Islands to the expiration of the fourth year of the five-year term of the Chief Financial Officer, to hold a referendum to determine whether the position of Chief Financial Officer shall be made a permanent part of the executive branch of the government of the Virgin Islands.

Establishes the Virgin Islands Chief Financial Officer Search Commission to recommend at least three candidates for the Chief Financial Officer position. Terminates the Commission upon the nomination and confirmation of the Chief Financial Officer.