reglab/statecodes huggingface dataset:
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART I - Industrial Incentives (§§ 10001 — 10052) › Chapter 904 - Puerto Rico Tax Incentives Act of 1987 (§§ 10038 — 10052) › § 10049 - Administrative decisions shall be final

(a) All decisions and findings of the Secretary of State under this chapter shall be final and binding and no judicial or administrative review or other action shall proceed against the same unless otherwise specifically provided.
(b) Any grantee adversely affected or injured by any action taken by the Secretary of State to revoke or cancel a tax exemption concession under § 10046(c)(2) of this title, shall be entitled to a judicial review thereof by filing an appeal for review with the Court of First Instance of Puerto Rico, San Juan Part, within thirty (30) days [of a] final decision or adjudication by the Secretary of State. Pending the judicial review, the Secretary of State is authorized, when in his/her judgment may so require, to postpone the effective date of any action taken by him/her under such conditions as may be required and to [the] extent that may be necessary to prevent irreparable damage. When such a postponement is applied for and denied, the Court before which such review is appealed, including the Supreme Court of Puerto Rico, may decree, through a writ [of] certiorari, and necessary and proper process to postpone the effective date [of] any action taken by the Secretary of the Treasury in the amount of the taxes unpaid to such date, plus interest and penalties, plus interest computed for a period of one (1) year at the prevailing legal rate.
Any decision or judgment rendered by the Court of First Instance of Puerto Rico shall be subject to review by the Supreme of Puerto Rico upon the application by any of the parties for a writ of certiorari in the manner proved by law.
History —Jan. 24, 1987, No. 8, p. 949, § 11; Oct. 27, 1995, No. 218, § 11, eff. Jan. 1, 1996.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART I - Industrial Incentives (§§ 10001 — 10052) › Chapter 904 - Puerto Rico Tax Incentives Act of 1987 (§§ 10038 — 10052) › § 10050 - Special account

The fees and charges prescribed in §§ 10047(e) and 10048 of this title shall be covered into a Special Account created to such effects in the Department of the Treasury, for the purpose of defraying the regular operating expenses of the Industrial Tax Exemption Office. Prior to using the resources deposited in the Special Account, the Industrial Tax Exemption Office shall submit an annual budget of expenses to be charged to those funds for approval by the Office of the Management and Budget. The resources of the Special Account destined to defray the regular operating expenses of the Industrial Tax Exemption Office may be complemented with appropriations from the General Fund of the Commonwealth of Puerto Rico.
Fifty percent (50%) of the fines that the Tax Exemption Office is able to collect on account of the reports that the exempted businesses failed to submit at the request of the Office of the Commissioner of Financial Institutions, shall be deposited in the Special Account of the Office of the Commissioner of Financial Institutions with the Department of the Treasury.
History —Jan. 24, 1987, No. 8, p. 949, added as § 12 on Aug. 21, 1990, No. 45, p. 188, § 3; Aug. 23, 1994, No. 97, § 2, eff. 45 days after Aug. 23, 1994.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART I - Industrial Incentives (§§ 10001 — 10052) › Chapter 904 - Puerto Rico Tax Incentives Act of 1987 (§§ 10038 — 10052) › § 10051 - Payment of fees

The payment of the fees and charges prescribed in §§ 10047(e) and 10048(c) shall apply to the applicants and concessionaires covered by the decrees granted under the provisions of the different tax incentive acts in effect, to wit: this chapter, §§ 10024 et seq., 10012 et seq., 254 et seq., former 6006 and 6021a of this title and 693 et seq. of Title 23.
History —Jan. 24, 1987, No. 8, p. 949, added as § 13 on Aug. 21, 1990, No. 45, p. 188, § 4.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART I - Industrial Incentives (§§ 10001 — 10052) › Chapter 904 - Puerto Rico Tax Incentives Act of 1987 (§§ 10038 — 10052) › § 10052 - Application for exemption under the 1978 Industrial Incentives Act

No applications for tax exemption under §§ 10024 et seq. of this title shall be received after the effective date of this act; however, the decrees granted thereunder may be amended pursuant to its provisions. Applications filed under said sections which have not been granted before the effective date of this act may be processed under this chapter at the option of the applicant.
History —Jan. 24, 1987, No. 8, p. 949, § 12, renumbered as § 14 on Aug. 21, 1990, No. 45, p. 188, § 5.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART II - Tax Incentives Act of 1998 (§§ 10101 — 10117) › Chapter 905 - Tax Incentives Act of 1998 (§§ 10101 — 10117) › § 10109 - Liquidation

(a) General rule. — No income tax shall be levied on or collected from the transferor or transferee with regard to the total liquidation of an exempted business which has obtained a decree under this part, on or before the expiration date of the decree, provided the following requirements are met:
(1) All property distributed in liquidation was received by the transferee in accordance with a liquidation plan on or before the expiration date of the decree, and
(2) the distribution upon liquidation by the transferor, whether in a lump sum or in installments, was made by the transferor in cancellation or in [full] redemption of its entire capital stock.
The basis of the transferee in the property received in liquidation shall be equal to the adjusted basis of the exempted business in said property immediately before the liquidation.
A corporation or a partnership holding shares in a partnership that is an exempted business shall in turn be deemed to be an exempted business for the purposes of this section.
(b) Liquidation of transferors with revoked decrees. — If the decree of a transferor is revoked before its expiration, the surplus industrial development income accrued on the date the revocation becomes effective may be transferred to the transferee at any later time, subject to the provisions in subsection (a) of this section, except in cases of mandatory revocation under § 10111(c)(2) of this title, whereby the accrued surplus industrial development income shall be taxable as provided in the revocation order.
(c) Liquidations after the expiration of the decree. — After the decree of the transferor has expired, the latter may transfer to the transferee the accrued surplus industrial development income earned during the effectiveness of the decree, subject to the provisions of subsection (a) of this section.
(d) Liquidation of transferors with exempt and nonexempt activities. — In case the transferor carries out exempt and nonexempt activities, the latter may transfer to the transferee the surplus industrial development income accrued under this part and the property intended for industrial development under this part as part of its total liquidation, subject to the provisions of subsection (a) of this section. The accrued surplus that is not industrial development income and the property that is not intended for industrial development shall be distributed according to the provisions of §§ 8006 et seq. of this title, known as the “Puerto Rico Internal Revenue Code”.
History —Dec. 2, 1997, No. 135, § 10, eff. Jan. 1, 1998.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART II - Tax Incentives Act of 1998 (§§ 10101 — 10117) › Chapter 905 - Tax Incentives Act of 1998 (§§ 10101 — 10117) › § 10114 - Administrative decisions; finality

(a) All decisions and determinations of the Secretary of State under this part shall be final and no judicial or administrative review or any other recourse shall proceed, unless otherwise specifically provided.
(b) Any grantee adversely affected or damaged by any action taken by the Secretary of State to revoke and/or cancel a tax exemption grant pursuant to § 10111(c)(2) of this title, shall be entitled to a judicial review by filing an appeal for review with the Puerto Rico Circuit Court of Appeals within thirty (30) days from the final decision or adjudication of the Secretary of State. During the process of the judicial review, the Secretary of State is hereby authorized to postpone the effective date of any action taken by him/her when, in his/her judgment, justice so requires, under those conditions required and to the extent needed to prevent irreparable damage. When said postponement is requested and denied, the court before which the review is requested through a certiorari, including the Supreme Court of Puerto Rico, may decree any procedure necessary and appropriate to postpone the effective date of any action taken by the Secretary of State, or to preserve the status or rights of the parties until the termination of the review proceedings, after posting bond in favor of the Secretary of the Treasury for the amount of the unpaid taxes to date, plus interest and penalties, plus interest computed for the period of one (1) year at the prevailing legal rate.
Any ruling or judgment of the Circuit Court of Appeals of Puerto Rico shall be subject to review by the Supreme Court of Puerto Rico by means of a certiorari requested by any of the parties in the manner prescribed by law.
History —Dec. 2, 1997, No. 135, § 15, eff. Jan. 1, 1998.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART II - Tax Incentives Act of 1998 (§§ 10101 — 10117) › Chapter 905 - Tax Incentives Act of 1998 (§§ 10101 — 10117) › § 10116 - Payment of fees

The payment of fees and charges prescribed in §§ 10112(e) and 10113(d) of this title shall apply to the applicants and grantees covered by decrees granted under the provisions of the various tax incentive laws, to wit: this part, and §§ 10038—10052 of this title, §§ 10024—10037 of this title, and §§ 10012—10023 of this title as amended.
History —Dec. 2, 1997, No. 135, § 17, eff. Jan. 1, 1998.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART II - Tax Incentives Act of 1998 (§§ 10101 — 10117) › Chapter 905 - Tax Incentives Act of 1998 (§§ 10101 — 10117) › § 10116a - Appropriation to special fund

The moneys collected in respect of the excess of the ten percent (10%) or the fifteen percent (15%) maximum tax by virtue of the provisions of this part, shall be covered into the Special Fund created by the “Act to Impose the Supertax of 2006”, including matters relative to the authorization granted to the President of the Government Development Bank in respect of the use of said Fund, as well as the corresponding limitations, as applicable; Provided, further, That in the event that the Fund pays in full the debt contracted with the Government Development Bank on account of the resources facilitated to the Secretary of the Treasury to cover operating expenses of the Central Government for fiscal year 2005—2006, the excess shall be appropriated to service the debt existing as of June 30, 2006, with the Teachers’ Retirement System and the Retirement System of the Employees of the Commonwealth, and any additional excess, to defray the costs of early retirement plans of the Retirement System of the Employees of the Commonwealth. In the event that the money collected under this part, as well as under any other legislation providing funds for these same purposes, does not suffice to repay the advance granted by the Government Development Bank, this fund insufficiency shall be covered by the Urgent Interest Fund, as defined by law and which shall be an integral part of the Tax Reform proposal under Joint Resolution No. 321 of November 21, 2005.
History —Dec. 2, 1997, No. 135, added as § 17A on May 13, 2006, No. 88, § 2.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART II - Tax Incentives Act of 1998 (§§ 10101 — 10117) › Chapter 905 - Tax Incentives Act of 1998 (§§ 10101 — 10117) › § 10117 - Decrees granted under preceding laws

No applications for exemption under §§ 10038—10052 of this title shall be received after the effective date of this act. However, the decrees granted thereunder or under similar preceding laws may be amended in accordance with their respective provisions. Applications for new decrees filed under said law which have not been granted prior to the effective date of this act may be processed under the present part, at the option of the applicant.
History —Dec. 2, 1997, No. 135, § 18, eff. Jan. 1, 1998.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART III - Other Tax Incentives (§§ 10401 — 10855) › Chapter 941 - Agriculture Tax Incentives (§§ 10401 — 10410) › § 10401 - Public policy

This chapter has the purpose of declaring as the public policy of Puerto Rico, to give the highest priority to agriculture in all affairs of the government of Puerto Rico and its instrumentalities, political subdivisions, municipalities and public corporations, the elimination of duties, restrictions, costs, real and movable property taxes, excise and any other type of taxes or contributions on bona fide farmers and on the businesses of bona fide farmers, and the stimulus and economic progress of bona fide farmers as mechanisms to achieve the sustained growth of the sector.
History —Dec. 1, 1995, No. 225, § 2.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART III - Other Tax Incentives (§§ 10401 — 10855) › Chapter 941 - Agriculture Tax Incentives (§§ 10401 — 10410) › § 10403 - Rulemaking Authority

The Secretary of Agriculture, with the advice of the Secretary of the Treasury, shall adopt regulations as are necessary for the implementation and oversight of this chapter.
History —Dec. 1, 1995, No. 225, § 4; Apr. 30, 1996, No. 35, § 2; Nov. 17, 2015, No. 187, § 51.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART III - Other Tax Incentives (§§ 10401 — 10855) › Chapter 941 - Agriculture Tax Incentives (§§ 10401 — 10410) › § 10404a - New agricultural entrepreneurs

In the case of new farmers or agricultural entrepreneurs, who do not qualify for the bona fide farmer certificate, the Secretary of Agriculture with the approval of the Secretary of the Treasury, shall establish through regulations, the requirements and procedures to be followed of the benefits of this chapter.
History —Dec. 1, 1995, No. 225, added as § 6 on Apr. 30, 1996, No. 35, § 4.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART III - Other Tax Incentives (§§ 10401 — 10855) › Chapter 941 - Agriculture Tax Incentives (§§ 10401 — 10410) › § 10406 - Exemption from property taxes

All real and personal property, including land, buildings, equipment, accessories and vehicles owned, leased, or held in usufruct by bona fide farmers, and used intensively in the agricultural business, shall be exempted from the payment of all types of property taxes and levies corresponding to January 1, 1996, and the taxable years commencing after that date. In order to be entitled to the personal property tax exemption, the applicant shall provide evidence to the Municipal Revenue Collection Center (CRIM, Spanish acronym), that he/she has complied with his/her obligations regarding the personal property taxes for the four (4) years preceding the request for such exemption.
New farmers and agricultural entrepreneurs shall be subject to the provisions of § 10404a of this title.
History —Dec. 1, 1995, No. 225, § 7, renumbered as § 8 by § 3 and amended on Apr. 30, 1996, No. 35, § 6.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART III - Other Tax Incentives (§§ 10401 — 10855) › Chapter 941 - Agriculture Tax Incentives (§§ 10401 — 10410) › § 10407 - Exemption from municipal taxes

Bona fide farmers are hereby exempted from the payment of any and all types of municipal license taxes, fees and liens imposed on their intensive agricultural business activities, for all taxable years commencing on and after January 1, 1996.
New farmers and agricultural entrepreneurs shall be subject to the provisions of § 10404a of this title.
History —Dec. 1, 1995, No. 225, § 8, renumbered as § 9 by § 3 and amended on Apr. 30, 1996, No. 35, § 7.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART III - Other Tax Incentives (§§ 10401 — 10855) › Chapter 941 - Agriculture Tax Incentives (§§ 10401 — 10410) › § 10408 - Exemption from income tax

(a) For the taxable years commencing on January 1, 1996, bona fide farmers are hereby exempted from the payment of income taxes on ninety percent (90%) of their income derived directly from the agricultural business, provided that the bona fide farmer has not availed him/herself of the provisions of Section 1023(s) of Act No. 120 of October 31, 1994, part of the Puerto Rico Internal Revenue Code of 1994. This exemption does not extend to income from interest, dividends, bonuses or profits derived from the sale of assets, including those assets used in the agricultural business, or any other income derived from bona fide agricultural businesses which is not derived directly from the agricultural activity.
(b) Any interest on bonds, promissory notes, and other debt instruments issued as of January 1, 1996, by bona fide farmers and any financial institution, as said term is defined in §§ 2001 et seq. of Title 7, or issued in transactions authorized by the Commissioner, regarding the financing of agricultural businesses, shall be exempted from the payment of income taxes.
The interest paid by a bona fide farmer shall be exempted from the payment of taxes. In order to enjoy the exemption on said interest, the lender must grant the loan directly to the farmer. If the financing is granted to an intermediary who, in turn, lends or otherwise contributes the product of the financing to an agricultural business, the loan to the intermediary shall not constitute an eligible loan for the purposes of this exemption. The term “intermediary” includes, but is not limited to, related persons pursuant to the criteria established in Sections 1024(b) and 1028 of Act No. 120 of October 31, 1994, part of the Puerto Rico Internal Revenue Code of 1994.
In case the bona fide agricultural business is disqualified as such, the interest generated by the debt instruments shall not be deemed eligible for the exemption provided in this subsection.
The term “financing” does not include the refinancing of a debt in the degree that the product is used to liquidate existing debts be they of the agricultural business or others. Therefore, the income tax exemption on the interest of bonds, notes and other debt instruments does not apply to said refinancing.
(c) In the case of those agricultural sectors that have been subject to a code which establishes a specialized office and a fund for the development of the industry, it shall be an indispensable requirement to be covered by said legal code in order to receive the benefits provided in this chapter.
New farmers and agricultural entrepreneurs shall be subject to the provisions of § 10404a of this title.
History —Dec. 1, 1995, No. 225, § 9, renumbered as § 10 by § 3 and amended on Apr. 30, 1996, No. 35, § 8; Apr. 8, 1997, No. 8, § 3.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART III - Other Tax Incentives (§§ 10401 — 10855) › Chapter 941 - Agriculture Tax Incentives (§§ 10401 — 10410) › § 10408a - Documents and the Puerto Rico Property Registry; exemption

Bona fide farmers are hereby exempted from the payment of Internal Revenue stamps and registry fees in the execution of documents and registration in the Puerto Rico Property Registry, including but not limited to the options, segregation, buying and selling, assignment, exchange, gift, usufruct and/or personal [property] for the use of their agricultural business, as well as the assignment, establishing, extension, modification, release and/or canceling of liens on real property and/or chattel, to finance their agricultural business and/or severally secure the financing of the agricultural business of another bona fide farmer, regardless of the banking or credit entity used for these purposes. The authorizing notary shall comply with Rule 28 of the Notarial Regulations in effect, in order to establish the capacity as bona fide farmer of the appearing party, taking as reference the certification issued by the Secretary of Agriculture. Furthermore, in the execution, the appearing bona fide farmer shall state under oath that the binding juristic act is for the use of his/her agricultural business and/or to severally secure the financing of another agricultural business as defined in § 10402(b) of this title.
History —Dec. 1, 1995, No. 225, added as § 11 on Apr. 30, 1996, No. 35, § 9.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART III - Other Tax Incentives (§§ 10401 — 10855) › Chapter 941 - Agriculture Tax Incentives (§§ 10401 — 10410) › § 10410 - Elimination of the tax credit for investment in agricultural businesses

The tax credits for investments in agricultural businesses described in § 10409 of this title, shall no longer be granted as of the date of approval of this act. Any endorsement issued by the Secretary of Agriculture with respect to an investment that had generated tax credits corresponding to the year 2004—2005 or any subsequent year, shall be evaluated and considered by the Farming and Animal Husbandry Service and Development Administration (A.S.D.A., Spanish acronym) through the Development Committee, appointed by the Secretary of Agriculture, for the granting of the incentives described in the appropriations note under this section.
History —Dec. 1, 1995, No. 225, added as § 15 on May 21, 2004, No. 118, § 1.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART III - Other Tax Incentives (§§ 10401 — 10855) › Chapter 942 - Green Energy Incentives Act of Puerto Rico (§§ 10421 — 10446) › Subchapter II - Green Energy Investment Incentives (§§ 10422 — 10442) › § 10422 - Green Energy Fund of Puerto Rico—Purpose

For the purpose of promoting the generation of green energy markets and the development of mechanisms to incentivize the establishment, organization, and operation of green energy production units in Puerto Rico at commercial level, and to stimulate the development of sustainable energy systems that further energy use savings and efficiency, a special fund denominated the Green Energy Fund of Puerto Rico is hereby established pursuant to the short, medium, and long-term objectives of this chapter.
History —July 19, 2010, No. 83, § 2.1.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART III - Other Tax Incentives (§§ 10401 — 10855) › Chapter 942 - Green Energy Incentives Act of Puerto Rico (§§ 10421 — 10446) › Subchapter II - Green Energy Investment Incentives (§§ 10422 — 10442) › § 10424 - Collection mechanism

(a) In addition to the Special Deposit set forth in § 10423(a) of this title, the Green Energy Fund shall be authorized to request and receive any state or federal funds available for the purposes for which it was created, and may receive funds from donations by private nongovernmental entities engaged in development, promotion, and other purposes related to green energy production, in full compliance with the Ethics in Government Act, §§ 1801 et seq. of Title 3. The definition of “private nongovernmental entity” shall be provided by the Administration through regulations.
(b) RECs processing costs or the fines and penalties imposed by the Administration, as authorized under this chapter, shall also be deposited into the Green Energy Fund.
History —July 19, 2010, No. 83, § 2.3.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART III - Other Tax Incentives (§§ 10401 — 10855) › Chapter 942 - Green Energy Incentives Act of Puerto Rico (§§ 10421 — 10446) › Subchapter II - Green Energy Investment Incentives (§§ 10422 — 10442) › § 10426 - RECs processing by the Administration

The Administration may establish, for each processed REC, a reasonable processing fee to be paid by the owner of the REC. The processing fee may be including the value of each processed REC. Any income earned by means of the processing fees imposed shall be used to take the proper and necessary actions that ensure the attainment of the purposes and objectives of this chapter.
History —July 19, 2010, No. 83, § 2.5.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART III - Other Tax Incentives (§§ 10401 — 10855) › Chapter 942 - Green Energy Incentives Act of Puerto Rico (§§ 10421 — 10446) › Subchapter II - Green Energy Investment Incentives (§§ 10422 — 10442) › § 10427 - Puerto Rico Green Energy Fund Administration

(a) The Administration is hereby empowered to administer the Green Energy Fund of Puerto Rico, which shall oversee the development and implementation of green energy sources initiatives, projects, and programs, as established in this chapter.
(b) The Administration shall be charged with the administration of the funds available for each fiscal year to administer and grant the incentives set forth in § 10429 of this title, subject to the supervision of the Evaluating Committee created in § 10428 of this title.
(c) The Administration shall be empowered to disclose, market, negotiate, purchase, sell, or otherwise lawfully transfer or assign the ownership of the acquired RECs.
History —July 19, 2010, No. 83, § 2.6.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART III - Other Tax Incentives (§§ 10401 — 10855) › Chapter 942 - Green Energy Incentives Act of Puerto Rico (§§ 10421 — 10446) › Subchapter II - Green Energy Investment Incentives (§§ 10422 — 10442) › § 10428 - Evaluating Committee

(a) The operation of the Green Energy Fund shall be under the supervision of an Evaluating Committee composed of three (3) ex officio members, to wit: the Secretary of Development, the President of the Government Development Bank, and the Secretary of the Treasury, or their respective proxies.
(b) The Evaluating Committee shall be chaired by the Secretary of Development.
(c) The Evaluating Committee shall determine the internal procedures and shall assemble periodically or as necessary to comply with the purposes of this chapter.
(d) The functions of the Evaluating Committee shall be the following, among others:
(1) To receive and review periodic reports of the Administration on the incentives granted to small-scale green energy projects, under § 10429(a)(1) of this title.
(2) To certify the quarterly competitive adjudication process under § 10429(a)(2)(A) of this title, including medium-scale green energy projects selected on each competitive adjudication for the purpose of the incentives provided in § 10429(a)(2) of this title.
(3) To approve any disbursement of five hundred thousand dollars ($500,000) or more from the Green Energy Fund.
(4) To receive and review periodic reports of the Administration on the operations of the Green Energy Fund, including but not limited to, the income and disbursements thereof, amounts earmarked for future disbursements; administrative expenses; green energy projects and programs established or in process; future projections and strategic plan to achieve the goals and objectives of this chapter.
History —July 19, 2010, No. 83, § 2.7.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART III - Other Tax Incentives (§§ 10401 — 10855) › Chapter 942 - Green Energy Incentives Act of Puerto Rico (§§ 10421 — 10446) › Subchapter II - Green Energy Investment Incentives (§§ 10422 — 10442) › § 10433 - Real and personal property tax

(a) In general. — The real and personal property of an exempt business used in the development, organization, construction, establishment or operation of the activity covered under the decree shall have a ninety percent (90%)-exemption on municipal and state real and personal property taxes during the exemption period established in § 10436 of this title.
(b) Period. — The real property of an exempt business, that holds a decree granted under this chapter, shall be fully exempt during the period authorized on the decree to carry out the construction or establishment of such exempt business and during the first fiscal year of the Government in which the exempt business would have been subject to property taxes for being operating as of January 1st prior to the commencement of such fiscal year except for the exception herein provided. Likewise, the real property of such exempt business that is directly related to any expansion of the exempt business shall be fully exempt from property taxes during the period authorized on the decree to perform the expansion. Once the total exemption period established in this subsection expires, the partial exemption provided in this section shall take effect.
(c) Assessment. — The real and personal tax shall be assessed, levied, notified, and administered as provided in §§ 5001 et seq. of Title 21, (“Municipal Property Tax Act”) and the Internal Revenue Code of Puerto Rico.
History —July 19, 2010, No. 83, § 2.12.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART III - Other Tax Incentives (§§ 10401 — 10855) › Chapter 942 - Green Energy Incentives Act of Puerto Rico (§§ 10421 — 10446) › Subchapter II - Green Energy Investment Incentives (§§ 10422 — 10442) › § 10434 - Municipal licenses and other municipal taxes

(a) Any exempt business that holds a decree granted under this chapter, shall have a sixty percent (60%) exemption on municipal licenses, excises and other municipal taxes levied by any municipal ordinance during the terms provided in this chapter.
(b) The taxable portion under subsection (a) of this section shall be, during the term of the decree, subject to the tax rate in effect as of the date on which the decree was executed, regardless of any subsequent amendment made to the decree to cover the operations of the exempt business on one or various municipalities.
(c) The exempt business that holds a decree granted under this chapter, shall have full exemption on municipal taxes and licenses applicable to the volume of business of such exempt business during the semester of the fiscal year of the Government in which the exempt business started operations in any municipality, pursuant to the provisions of the “Municipal Licenses Act of 1974”, as amended. Furthermore, the exempt business shall be fully exempt from municipal taxes and licenses on the volume of business attributable to such municipality during the two (2) semesters of the fiscal year or fiscal years of the Government following the semester in which it started operations.
(d) Any exempt business and its contractors, and subcontractors shall be fully exempt from any tax, assessment, fee, license, excise, rate or tariff imposed by municipal ordinance on the construction of works to be used by such exempt business within a municipality, it being understood that such taxes do not include the municipal license imposed on the volume of business of the contractor or subcontractor of the exempt business, during the term authorized under the tax exemption decree.
History —July 19, 2010, No. 83, § 2.13.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART III - Other Tax Incentives (§§ 10401 — 10855) › Chapter 942 - Green Energy Incentives Act of Puerto Rico (§§ 10421 — 10446) › Subchapter II - Green Energy Investment Incentives (§§ 10422 — 10442) › § 10435 - State excise and sales and use tax

(a) In addition to any other exemption from excise taxes or the sales and use tax granted under Subtitles B and BB, respectively, of the Internal Revenue Code of Puerto Rico, the following articles introduced or acquired directly or indirectly by a business holding a decree grated under this chapter shall be fully exempt from said taxes during the exemption period set forth in this chapter:
(1) Any raw material to be used in Puerto Rico in the production of green energy, for the purposes of this subsection and the applicable provisions of Subtitles B and BB, respectively, of the Internal Revenue Code of Puerto Rico, the term “raw material” shall include:
(A) Any product in its natural form derived from agriculture or extractive industries, and
(B) any byproduct, residual product or semi-manufactured or finished product.
(2) The machinery, equipment and accessories thereof used exclusively and permanently in the transport of raw material within the circuit of the exempt business, the machinery, equipment, and accessories used to produce green energy or that the exempt business is bound to acquire to comply with a federal or state law or regulation for the operations of the eligible activity.
Notwithstanding the foregoing, the exemption shall not cover machinery, devices, equipment or vehicles used, in whole or in part, in the administrative or commercial phase of the exempt business, except in cases where at least ninety percent (90%) thereof is also used in the production of green energy, in which case, the same shall be deemed to be used exclusively to carry out the eligible activity.
(3) Any machinery and equipment that must be used by an exempt business to comply with environmental safety and health requirements shall be fully exempt from the state excise taxes as well as from the sales and use tax.
(4) Chemical materials used by an exempt business for wastewater treatment.
(5) Energy efficient equipment duly certified by the Administration.
(6) Electric power substations.
(b) Exemptions. — The following use and consumption articles used by the exempt business that holds a decree granted under this chapter, regardless of their area or location or their use, shall not be deemed to be raw material, machinery, or equipment for purposes of subsection (a) of this section:
(1) Any construction materials or precast structure;
(2) any electrical material and water pipes attached to the structures;
(3) lubricants, grease, wax, and paint not related to the energy production process;
(4) street and parking area lighting, and
(5) treatment plants.
History —July 19, 2010, No. 83, § 2.14.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART III - Other Tax Incentives (§§ 10401 — 10855) › Chapter 942 - Green Energy Incentives Act of Puerto Rico (§§ 10421 — 10446) › Subchapter II - Green Energy Investment Incentives (§§ 10422 — 10442) › § 10441 - Decrees granted under industrial or tax incentive laws

(a) In the case of businesses engaged in eligible activities, as defined in § 10421 of this title, no new exemption decree applications shall be received under § 10642 (d)(1)(E) of this title, with respect to a property devoted to the production of green energy, as defined in this chapter, §§ 10642(d)(1)(H) and 10642(d)(1)(M) of this title, as of the effective date of this act. After the effective date of this act, notwithstanding the provisions of the abovementioned sections of Act No. 73 of May 28, 2008, as amended, any decree application in connection with any eligible activity shall be governed by the provisions of this chapter. However, any decree granted under §§ 10641 et seq. of this title, or similar preceding laws, shall remain in effect as to their particular provisions or may be converted or renegotiated under this chapter. New decree applications submitted before the effective date of this act in connection with eligible activities that have not been granted as of the effective date of this act, may be processed under this chapter at the option of the applicant.
(b) Any natural or juridical person who carries out or proposes to carry out an eligible activity, may apply for a decree in accordance with this chapter, regardless of the expected green energy production capacity.
(c) As a provisional measure, any person who has applied for an exemption decree under § 10642(d)(1)(H) of this title, on or before the effective date of this act, may assign, sell or transfer any credit granted before July 1, 2011, pursuant to § 10645(d)(3)(B) of this title and the regulations thereunder, and the provisions of subsections (c) and (f) of § 10646 of this title shall apply. For the purposes of such provisions:
(1) The term “investor” shall be replaced with “exempt business”.
(2) The term “credit for industrial investment” shall be replaced with “eligible investment credit under § 10645(d) of this title”.
(3) Reference to § 10646(b)(2) of this title, shall be understood to be made to § 10645(d)(3)(B) of this title.
(4) The term “eligible investment” according to § 10645(d)(2) of this title, shall include an investment made with cash from a loan secured by the exempt business or the assets thereof.
History —July 19, 2010, No. 83, § 2.20.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART III - Other Tax Incentives (§§ 10401 — 10855) › Chapter 942 - Green Energy Incentives Act of Puerto Rico (§§ 10421 — 10446) › Subchapter II - Green Energy Investment Incentives (§§ 10422 — 10442) › § 10442 - Application of the Internal Revenue Code of Puerto Rico

The Internal Revenue Code of Puerto Rico shall apply supplementally to this chapter, insofar as the provisions thereof do not contravene with its provisions.
History —July 19, 2010, No. 83, § 2.21.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART III - Other Tax Incentives (§§ 10401 — 10855) › Chapter 942 - Green Energy Incentives Act of Puerto Rico (§§ 10421 — 10446) › Subchapter III - General Provisions (§§ 10443 — 10446) › § 10443 - Penalties for false information

Any person who knowingly furnishes, supplies or sends false or incorrect information in any document, report, application, statement, and/or certification required under this chapter with the intent to commit fraud, shall incur in a fourth degree felony, and upon conviction, he/she may be punished with imprisonment for a minimum term of six (6) months or a maximum term of five (5) years, in addition to the imposition of a ten thousand dollar ($10,000) fine for each infringement.
History —July 19, 2010, No. 83, § 3.1.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART III - Other Tax Incentives (§§ 10401 — 10855) › Chapter 942 - Green Energy Incentives Act of Puerto Rico (§§ 10421 — 10446) › Subchapter III - General Provisions (§§ 10443 — 10446) › § 10444 - Conflicts

No person, including but not limited to any local or municipal government agency or corporation, may issue or impose, whether by regulation, agreement, contract, order or resolution, an endorsement, permit or similar transaction requirement, zoning, qualification, ordinance, or any other legal or discretionary mechanism, any requirement, impairment or condition that has or may have the effect of thwarting the requirements, objectives or spirit of this chapter. Such requirements, impairments or conditions shall be deemed to be null unless the same are expressly and justifiably directed to protect human health and safety and are approved by the Evaluating Committee, or are expressly authorized in this chapter or a subsequent legislation. Notwithstanding the foregoing, none of the provisions of this chapter shall impair the powers conferred to the Authority under § 196(l) of Title 22, and the powers conferred to the Authority under such subsection shall apply to any cost associated with the purchase of sustainable renewable energy and alternative renewable energy, the purchase of RECs (including its environmental and social attributes) related to such energy, and including any other costs associated with the compliance of this chapter.
In the event of a conflict between the provisions of this chapter and those of any other law or regulation, whether these were approved before or after the enactment of this chapter, the provisions of this chapter shall prevail with respect to all the issues addressed therein.
History —July 19, 2010, No. 83, § 3.2.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART III - Other Tax Incentives (§§ 10401 — 10855) › Chapter 942 - Green Energy Incentives Act of Puerto Rico (§§ 10421 — 10446) › Subchapter III - General Provisions (§§ 10443 — 10446) › § 10445 - Regulations under this chapter

(a) Regulations under §§ 10430—10441 of this title. — The Secretary of Development shall draft, in consultation with the Secretary of the Treasury, the Executive Director of the Puerto Rico Industrial Development Company and the Executive Director, those regulations that may be necessary to enforce the provisions of §§ 10430—10441 of this title in accordance with the purposes thereof.
(b) Regulations under § 10432 of this title. — The Secretary of the Treasury shall adopt regulations, in consultation with the Secretary of Development, the Director of Development, and the Executive Director, with respect to the granting, assignment or sale of the tax credits under § 10432 of this title.
(c) Except as otherwise provided, the adoption of regulations promulgated pursuant to the provisions of this chapter, shall be subject to the provisions of §§ 2101 et seq. of Title 3, known as the “Uniform Administrative Procedure Act of Puerto Rico”.
(d) The absence of any of the regulations contemplated under this chapter shall not impair the application thereof.
History —July 19, 2010, No. 83, § 3.3.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART III - Other Tax Incentives (§§ 10401 — 10855) › Chapter 942 - Green Energy Incentives Act of Puerto Rico (§§ 10421 — 10446) › Subchapter III - General Provisions (§§ 10443 — 10446) › § 10446 - Terms used

Any term importing the singular number shall be deemed to include the plural. Likewise, when the use so justifies, the masculine shall be deemed to include the feminine or vice versa.
History —July 19, 2010, No. 83, § 3.5.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART III - Other Tax Incentives (§§ 10401 — 10855) › Chapter 951 - Tax Credits for Investment in Housing Infrastructure (§§ 10601 — 10612) › § 10603 - Maximum credits per year

The Department of Housing, in coordination with the Department of the Treasury, may approve up to fifteen million dollars ($15,000,000.00) in credits for special investment in housing infrastructure and/or infrastructure of regional or municipal impact for each fiscal year. In the event that the Department of Housing understands that a larger amount of credit is needed during a specific fiscal year to see to the best interests of the Commonwealth of Puerto Rico, it may request the Department of the Treasury to authorize an additional amount of credits up to a total maximum of fifty million dollars ($50,000,000.00) per year.
Before approving any additional amount of credit under this chapter, the Secretary of Housing shall obtain a certificate from the Secretary of the Treasury of the current amount of credits available for the fiscal year in question. If in any fiscal year, the Department of Housing does not grant credits for the total amount allowed, it may use or pass from one fiscal year to the next, the reminder of the credits not granted in a specific fiscal year.
History —Aug. 10, 2001, No. 98, § 5; Aug. 6, 2008, No. 171, § 3.
2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 15 - Puerto Rico Industrial Incentives Generally (§§ 10001 — 10855) › PART III - Other Tax Incentives (§§ 10401 — 10855) › Chapter 951 - Tax Credits for Investment in Housing Infrastructure (§§ 10601 — 10612) › § 10604 - Availability of infrastructure; charges to third parties for the use of available infrastructure

The capacity of use of available infrastructure by third parties, shall be placed at the disposal of the Department of Housing for it to dispose thereof at its complete discretion, pursuant to the best interests of the Commonwealth of Puerto Rico.
The Secretary of Housing is hereby empowered to impose and collect a charge or fee from the developers and persons who benefit or use the available infrastructure developed by any petitioner to whom a credit is granted. The charge or fee to be collected for the use of these facilities shall be determined by the Secretary of Housing with the Secretary of the Treasury through regulations to such effect.
Notwithstanding the foregoing, in the case of infrastructure of regional or municipal impact, the charge or fee to be collected for the use of said facilities, if the same are enforced in every particular case, shall be determined by the agency together with the Secretary of the Treasury and the Secretary of Housing, through rules and regulations to such effect, and said charges or fees to be collected shall be transferred to the Secretary of the Treasury in order to be covered into the General Fund of the Commonwealth of Puerto Rico, until the proceeds resulting from the collection of those charges and fees amount to one hundred percent (100%) of the amount granted as tax credits relative to the infrastructure of regional or municipal impact. Once the tax credit amount granted to a combine has been reached, the Department of Housing shall make use of the remaining capacity of the infrastructure pursuant to the provisions of the first and second paragraphs of this section.
History —Aug. 10, 2001, No. 98, § 6; Aug. 6, 2008, No. 171, § 4.