2023 Laws of Puerto Rico › TITLE FIFTEEN - Sports and Parks (§§ 1 — 2020) › Subtitle 1 - Generally (§§ 1 — 915) › Chapter 27 - Ponce Public Colosseum (§§ 531 — 537) › § 537 - Tax; levying and administration

(a) There is hereby levied, on every natural or [juridical] person who holds any activity in the Public Colosseum of Ponce, a tax equivalent to ten percent (10%) of the total gross proceeds derived from the sale of admission tickets for each one of said activities. The persons holding activities in the Public Colosseum of Ponce shall be compelled to pay the ten percent (10%) tax on the total gross proceeds derived from the sale of admission tickets to said activities not later than the second Thursday following the holding of the activity; and in lieu thereof, in addition of being guilty of a misdemeanor shall be compelled to pay a surcharge of five percent (5%) on the taxes in arrear and interest at one percent (1%) monthly computed from the day on which the tax should have been paid. The Secretary of the Treasury of Puerto Rico shall collect said tax and shall place the proceeds of same at the disposal of the Recreational Development Company of Puerto Rico which shall use it in the manner hereafter provided in this section; Provided, That there shall be exempt from this additional tax all public shows which are tax exempt in accordance with the provisions of §§ 8006 et seq. of Title 13 and under the conditions established in said sections.
(b) The Secretary of the Treasury is hereby directed to transfer to the Recreational Development Company of Puerto Rico the proceeds of any tax or excise levied at present or which may be levied and collected on activities or shows to be held in the Public Colosseum of Ponce, which proceeds shall be used by the Recreational Development Company in the manner hereinafter provided.
(c) The Recreational Development Company of Puerto Rico shall establish a Special Account in which it shall enter the proceeds of the tax provided in subsection (a) of this section and the proceeds of the tax or excise received by the Department of the Treasury in accordance with the provisions of subsection (b) of this section, as well as the receipts derived from the lease or any other receipts obtained from the use of the Colosseum. The funds covered into this Special Account as well as the proceeds derived from the sale of admission tickets to the Colosseum shall be used by the Recreational Development Company only for the following purposes in order of priority:
(1) To defray operation, conservation, maintenance and improvement expenses of the Public Colosseum of Ponce;
(2) any remaining balance in the Special Account at the end of its fiscal year shall be covered by the Recreational Development Company into a reserve account to fulfill the same purposes stated in clause (1) of this subsection until said sum reaches the amount equivalent to the average of that spent for said purposes during the last two (2) years of operation of the Public Colosseum of Ponce, and
(3) once the reserve provided in clause (2) of this subsection has been established, any surplus in the Special Account shall be used by said Company to reimburse the Municipality of Ponce, in first place, and the said Company in second place, the amounts invested by said organizations in the construction of the Public Colosseum of Ponce. Once this purpose has been fulfilled, any existing balance in said Special Account, after paying the expenses mentioned, shall be reimbursed by the Company to the Public Treasury.
History —June 19, 1962, No. 56, p. 121, § 8; June 24, 1968, No. 129, p. 303, § 10.