2023 Laws of Puerto Rico › TITLE THREE - Executive (§§ 1 — 9311) › Chapter 114 - Government of the Commonwealth of Puerto Rico Special Fiscal and Operational Sustainability Act (§§ 9101 — 9153) › Subchapter II - Measures To Cut Back On Spending In The Executive Branch (§§ 9111 — 9129) › § 9125 - Contribution of savings of public corporations in economic development-related fields to the General Fund’s deficit

The savings generated by public corporations related to the promotion of economic development, and some other corporations designated in this section, as a result of the implementation of the provisions of § 9117 of this title, shall be deposited in the “Employment Promotion and Economic Activity Fund” under the custody of the Puerto Rico Trade and Export Company, created through special legislation specifically for such purposes. This would reduce the burden currently imposed on the General Fund by the appropriations for job promotion and business incentives.
For purposes of this section, public corporations related to the economic development promotion field are the following: the Land Administration, the Lands Authority of Puerto Rico, the Puerto Rico Convention Center District Authority, the Puerto Rico Infrastructure Financing Authority, the Housing Financing Authority, the Puerto Rico Economic Development Bank, the Government Development Bank for Puerto Rico, the Development [sic] and Export Company, the Industrial Development Company, the Tourism Company, the Agricultural Insurance Corporation, and the Public Corporation for the Supervision and Insurance of Cooperatives in Puerto Rico. Furthermore, instrumentalities not directly related to economic development shall also contribute to the Employment Promotion and Economic Activity Fund, to wit: the Governing Board of the 9-1-1 Service and the Puerto Rico and the Caribbean Cardiovascular Center Corporation.
On or before July 31st, 2014, each one of these entities shall certify to the Office of Management and Budget the number of employees on their payrolls as of June 30th, 2014, and the sums paid during the fiscal year ending on said date to cover the following items: Christmas Bonus; Summer Bonus; other general bonuses, including, but not limited to, ratification of collective bargaining agreements, attendance, punctuality, productivity, or retirement; liquidation of sick and vacation leaves accrued in excess. In the case of the Christmas Bonus and the Summer Bonus, the certification of the sums paid shall be reduced by an amount equal to the number of employees who received the Christmas Bonus, multiplied by six hundred dollars ($600), plus the number of employees that received the Summer Bonus, multiplied by two hundred dollars ($200). The information to be provided shall separate union employees from nonunion employees.
The corresponding amounts certified by June 30th, 2014, shall be considered conclusively as the savings generated under this subchapter for the following Fiscal Year 2015, and shall be transferred to the Department of the Treasury by each of the corresponding public corporations, beginning on or before July 31st, 2014. The funds thus transferred shall be deemed to be allocated to the Employment Promotion and Economic Activity Fund. Said transfers may be made in equal installments for the remaining months of the fiscal year, but must be completed before June 30th, 2015. Public corporations required to make contributions under this Section shall continue to make their respective additional transfers in an amount equal to that paid during Fiscal Year 2015, beginning on July 31st, 2015 for Fiscal Year 2016, and on every July 31st thereafter during the effective term of this Act.
History —June 17, 2014, No. 66, § 19.