2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 3 - General Provisions (§§ 621-639 — 1100a) › Chapter 102 - Urban Center Revitalization (§§ 1095 — 1095p) › Subchapter V - Municipal Government Exemptions or Exactions (§§ 1095h — 1095k) › § 1095i - Financing of infrastructure projects

As of the approval of this act, the Management and Budget Office shall identify the funds destined in the budgets of each agency, for the payment of public services such as electric power, water, and telephone service, and shall deposit them in a special account to assure their prompt payment, and as possible, pay into or settle the debt of the agencies for services rendered in previous years, in order to make the prospective investment in the urban centers feasible.
Likewise, in the drafting of the budget for Fiscal Year 2003 and subsequent fiscal years, the agencies shall include in their budget requests, the total amount of the funds needed to settle debts for public services, contracted in previous years with public corporations or private entities that provide public services, such as: the Electric Power Authority, the Aqueducts and Sewers Authority, the Water Company and the Telephone Companies.
It is hereby provided that the abovementionned public and private public service enterprises whose debts of the agencies for services rendered in previous years are settled, shall include infrastructure improvement projects in their investment programs for the next fiscal year in said urban centers equivalent to fifty percent (50%) of the debt thus paid and pursuant to the corresponding urban centers revitalization plan, which the Office of the Director has adopted pursuant to the provisions of § 1095c of this title. The Territorial Ordinance Office of municipalities with area plans or historic zones, or the Office of the Director, in the case of the other municipalities shall be responsible for promoting and monitoring their compliance of this objective that, in addition to improving this essential element for the revitalization of the urban centers, is an incentive for the maintenance, conservation and improvement of the infrastructure of the public service enterprise, proper.
In the event that the municipality has the financial standing to defray with its own funds, or through the contribution or matching of federal or state funds, the cost of infrastructure improvement projects of any public and private service corporation enterprise, located in the urban centers; the corporation or private entity thus benefited shall grant said municipality the corresponding credits in their invoices of services a sum equivalent to the value of the investment project financed by the municipality. In order for the granting of said credit to be allowed, it shall be an essential requirement that the public corporation or public service entity has given its consent for the improvement project and that the work performed is included in the Revitalization Plan adopted by the Territorial Ordinance Office of the municipalities with an area plan or historic zone, or the Office of the Director or corresponding area plan.
History —Aug. 29, 2002, No. 212, § 5.02.