2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART VI - Tourism (§§ 6001 — 6982i) › Chapter 151 - Tourism Development (§§ 6001 — 6326) › Subchapter II - Exemptions; Administration (§§ 6011 — 6018) › § 6011 - Exemptions

(a) Types of exemption.— Every exempted business is exempted from the payment of contributions and the taxes mentioned in clauses (1)–(5) of this subsection:
(1) Exemption from the payment of income taxes.—
(A) Exemption rates.— Tourist industry development income, as well as the dividends or benefits distributed by the exempt business to its shareholders or partners and the distributions made in liquidation, shall be exempted from the payment of income taxes, pursuant to the following terms and conditions:
(i) For all tourist related activity not established in Vieques or Culebra, the percentage of exemption of said income shall be of up to ninety percent (90%).
(ii) For all tourist related activity established in Vieques or Culebra, the percentage of exemption of said income shall be of up to one hundred percent (100%).
(iii) The exemption shall be in effect for a ten (10)-year period and shall take effect on the date specified in subsection (b) of this section.
(B) Exempt business shareholder or partner.— Distributions of tourist development income by an exempt business, including special partnerships, prior to the expiration of its grant, to its shareholders or partners, regardless of whether they are corporations or partnerships that are or were themselves an exempt business, shall be subject to the payment of income taxes (if applicable) only once, which shall be at the time that the exempt business which generated the tourist development income distributes it to shareholders or participating partners.
For purposes of this subsection, the shares in the income of a special partnership attributable to its partners shall not be deemed as a distribution of tourist development income.
(i) Such distributions shall retain their tourist industry development nature and their respective characteristics. Subsequent distributions made by any corporation or partnership that have already been taxed shall be exempted from any additional taxes.
(ii) In the case of exempted businesses organized as partnerships, joint ventures or similar entities, constituted by several corporations, partnerships, or a combination thereof, the constituents of such exempted businesses shall be deemed as being or having been exempt and, consequently, the only tourist industry development income distributions that shall be subject to taxation shall be those made by the stated constituents of said exempted businesses.
(iii) The profits obtained from the sale, exchange or other disposal of corporate stock, partnership shares, shares in joint ventures, or of all the assets of said corporations, partnerships or joint ventures, that are or have been exempted businesses; and corporate stock, partnership shares or joint ventures that in some way are owners of the previously described entities, shall be subject to the provisions of paragraph (C) of this clause upon execution of said sale, exchange or other disposition, and any subsequent distribution of said profits, whether as a dividend or a distribution in liquidation, shall be exempt from additional taxation.
(C) Sale or exchange.— If the sale or exchange of stock, shares in partnerships, shares in joint ventures or of substantially all the assets of exempted businesses devoted to a tourist activity, and said property continues to be used for a tourist related activities after such a sale for a period of at least twenty-four (24) months:
(i) During the exemption period, the profit or loss resulting from said sale or exchange shall be acknowledged in the same proportion as the tourist industry development income of the exempted business is subject to the payment of income taxes; the base of said stock, shares or assets involved in the sale or exchange shall be determined for the purpose of establishing the profits or losses, pursuant to the applicable provisions of the Income Tax Act in effect at the time of the sale or exchange.
(ii) After the expiration date of the exemption, only the profits of losses in the sale or exchange of stock or shares shall be acknowledged in the manner provided in subparagraph (i) of this paragraph, but only up to the total value of the stock or shares on the books of the corporation or partnership as of the date of expiration of the exemption (minus the amount of any exempted distribution received on the same shares after said date) minus the base of said shares. The remainder, if any, of the profits or losses shall be acknowledged pursuant to the provisions of §§ 8401 et seq. of Title 13. The profits or losses in the sale or exchange of the assets shall be acknowledged pursuant to the provisions of said sections.
The requirement indicating that the property should continue to be used for a tourist related activity for a period of at least twenty-four (24) months shall not apply in those cases whereby the sale or exchange is of the stock or shares of an investor or partner who is neither a developer nor someone who exercises any control over the exempted business.
(D) Flexible tax exemption.— Exempted businesses shall be entitled to choose not to be covered by the tax exemption provided by § 6011(a)(1) of this title for the tourist industry development income of a specific taxable year, enclosing a notice to such effects with their income tax return for that taxable year filed on or before the date provided by §§ 8006 et seq. of Title 13 to file said return, including any extension granted by the Secretary for the filing thereof. The exercise of said right through said notice shall be irrevocable and binding on the exempted business; Provided, That the total number of years that an exempted business may enjoy the exemption shall not exceed ten (10) years.
(E) Additional exemptions.— Tourist development income shall not be subject to the following income taxes:
(i) Minimum alternate taxes of § 8416 of Title 13;
(ii) surtax on corporations and partnerships of § 8502 of Title 13, and
(iii) the alternate basic tax on individuals of § 8411 of Title 13 or any succeeding law of a similar nature.
(F) Tax rate.—
(i) Applicable tax rate.— Except as otherwise provided in this chapter, the tax rate applicable to all exempt businesses shall be that which is in effect as of the date of approval of this chapter.
(ii) Royalties or proprietary rights.—
(I) Taxes on and withholding of royalties paid by an exempt business to corporations, foreign partnerships, or persons not engaged in trade or business in Puerto Rico.—
a. A twelve percent (12%) tax shall be imposed, charged, and paid for each taxable year, in lieu of the tax imposed under the Puerto Rico Internal Revenue Code or any similar or successor law, on the total amount received as royalties or proprietary rights for the use in Puerto Rico of any intangible property related to the activity exempted under this chapter, by any foreign corporation, foreign partnership, or person not engaged in trade or business in Puerto Rico, originating exclusively from sources within Puerto Rico.
b. All exempt businesses required to make royalty or proprietary right payments to foreign corporations, foreign partnerships, or persons not engaged in trade or business in Puerto Rico for the use in Puerto Rico of intangible property related to the activity exempted under this chapter, shall deduct and withhold at the source a tax equal to that which is imposed under item (I)a. of this subparagraph.
(II) Any person described below shall pay a two point nine percent (2.9%) tax on payments received as royalties or proprietary rights for the use in Puerto Rico of any intangible property related to the activity exempted under this chapter which derive exclusively from sources within Puerto Rico, in lieu of the tax provided under item (I) of this subparagraph.
a. Any foreign corporation, foreign partnership, or person not engaged in trade or business in Puerto Rico that is a stockholder or has fifty percent (50%) or more direct shares in the exempt business; or
b. any foreign corporation, foreign partnership, or person not engaged in trade or business in Puerto Rico that directly or indirectly owns eighty percent (80%) or more of any corporation, partnership, or person described in item (II)(a), or
c. any foreign corporation, foreign partnership, or person not engaged in trade or business that is directly or indirectly held by eighty percent (80%) or more by a corporation, partnership, or person described in subitem a. or b. of this item.
(III) The corresponding taxes shall be withheld at the source by an exempt business that makes payments on account of royalties or proprietary rights for the use in Puerto Rico of any intangible property related to the activity exempted under this chapter and which derive exclusively from sources within Puerto Rico, to the persons described in subitem a., b., or c. of item (II).
(G) Exemption to individuals, decedent’s estates, corporations, partnerships, and trusts with respect to interest paid or credited on bonds, notes, or other obligations of certain exempt businesses.—
(i) Exemption.— Any individual, decedent’s estate, corporation, partnership, limited liability company, or trust shall be exempted from the payment of any taxes imposed under the Code on income from interest, charges, and other credits received with respect to bonds, notes, or other obligations of an exempt business for the development, construction, or rehabilitation of or improvements to an exempt business under the Puerto Rico Tourist Development Act of 1993, or this chapter, provided that such funds are used entirely for the development, construction, or rehabilitation of or improvements to an exempt business and/or the payment of existing debts of said exempt business, insofar as the funds originating from such existing debts have been originally used for the development, construction, or rehabilitation of or improvements to such exempt business.
(ii) The proceeds of the bond, note, or other obligation must be granted directly to an exempt business covered under this chapter.
(iii) The exemptions provided in this section shall only apply to bonds, notes, or other obligations granted after the approval of this act.
(H) Base or adjusted base.— For the purposes of this chapter, with the exception of § 6013(e) of this title, any reference to the term “base” or the phrase “adjusted base” shall require the computation thereof as established in §§ 8514 or 8006 of Title 13 prior to the adjustments dictated hereby.
(2) Exemption with regard to municipal and Commonwealth taxes on real and personal property.— Property dedicated to a tourist activity shall be entitled to up to (90%) exemption of any municipal and Commonwealth real and personal property taxes for a term of ten (10) years, computed as of the date fixed under subsection (b) of this section.
In cases of personal property that consists of equipment and furniture to be used in a lodging, excluding any commercial unit, as said terms are defined in §§ 1251 et seq. of Title 31, of a timeshare or vacation club duly licensed by the company under the provisions of said sections, the personal property shall enjoy the exemption provided in this clause, regardless of who holds title to the equipment and/or furniture. Said exemption shall last as long as the exemption granted for the timeshare or vacation club plan remains in effect. The director shall determine by regulations the procedure to claim said exemption.
Stock in a corporation or shares in a partnership that enjoy a grant for exemption under this chapter shall not be subject to the payment of property tax under the Property Tax Law of 1991, or any successor act of a similar nature.
Property taxes on personal and/or real property shall be assessed, imposed, notified and administered according to the provisions of the Property Tax Act in effect on the date the tax is assessed and imposed.
(3) Exemption with respect to license fees, excise taxes, and other municipal taxes.— No new business that is an exempt business shall be subject to license fees, excise taxes, or other municipal taxes on its tourism development income imposed by any ordinance of any municipality, as of the date fixed pursuant to subsection (b) of this section. An existing business that is an exempt business shall enjoy up to a ninety percent (90%) exemption from license fees, excise taxes, and other municipal taxes on its tourism development income imposed by any ordinance of any municipality, as of the date fixed pursuant to subsection (b) of this section. The exemption shall be in effect for a period of ten (10) years and shall start on the date specified in subsection (b) of this section.
The guests of an exempt business shall not be subject to license fees, excise taxes, or other municipal taxes for their stay as a guest in an exempt business.
(4) Exemption regarding taxes on consumer goods.—
(A) In general.— Exempted businesses shall be exempt from the payment of taxes levied under §§ 9001 et seq. of Title 13 with regard to those articles manufactured in Puerto Rico used by an exempted business in relation to a tourist related activity, of up to one hundred percent (100%). The exemption shall be in effect for a ten (10)-year period which shall commence on the date specified in subsection (b) of this section.
In those cases of personal property that consists of equipment and furniture to be used in a lodging, excluding any commercial unit, as said terms are defined in §§ 1251 of Title 31, of a timeshare or vacation club rights plan duly licensed by the company under the provisions of said sections, the personal property shall be entitled to the exemption provided in this clause regardless of who is the titleholder of the equipment and/or furniture. Said exemption shall last as long as the concession of the exemption for the timeshare or vacation club property is kept in effect. The director shall determine the procedure to claim said exemption by regulations.
(B) Articles acquired outside of Puerto Rico.— The exemption granted in paragraph (A) of this clause shall be applicable to articles acquired outside of Puerto Rico to be used solely in a tourist activity, if the exempted business shows to the satisfaction of the director that it made a genuine effort to acquire articles manufactured in Puerto Rico, but the acquisition thereof is not financially justifiable when taking into consideration their quality, quantity, price or availability in Puerto Rico. The director shall issue a certificate attesting that the exempted business made the genuine effort required. The director shall promulgate those regulations that are needed for such purposes.
(C) Exclusions.— The exemptions granted under this clause shall not apply to those articles or other property of such nature that they are properly a part of the exempted business’s inventory under § 8422(c) of Title 13, and which represent property owned primarily for sale in the ordinary course of business of the industry or business, nor to the room occupancy tax levied upon hotel rooms by § 9051 of Title 13.
(D) Rebates.— The Secretary shall reimburse any tax paid on the sale or introduction of articles sold to exempted businesses for use in connection with a tourist related activity in the manner and with the limitations prescribed in §§ 9001 et seq. of Title 13.
(5) Exemption with regard to municipal construction taxes.— Every exempted business and its contractors or subcontractors shall enjoy an exemption of up to one hundred percent (100%) on any tax, levy, fee, license, excise tax, import tax or duty for the construction of works to be devoted to a tourist related activity within a municipality levied by any ordinance of any municipality, from the date fixed pursuant to subsection (b) of this section. The exemption shall be in effect for a ten (10)-year period and shall commence on the date specified in subsection (b) of this section.
(A) In general.— All exempted businesses and their contractors or subcontractors shall be granted an exemption of up to one hundred percent (100%) on any tax, levy, fee, license, excise tax, import tax or duty for the construction of works to be devoted to a tourist related activity within a municipality, levied by any ordinance of any municipality, from the date fixed pursuant to subsection (b) of this section. Said exemption shall be in effect for a period of ten (10) years and shall commence on the date specified in subsection (b) of this section.
Solely for the purposes of this exemption, any person in charge of the administrative duties and of the physical and intellectual tasks inherent to the construction of a work to be devoted by an exempted business to some tourist related activity and any intermediary or chain of intermediaries acting between said person and the exempted business shall be deemed to be a contractor or subcontractor of the exempted business.
(B) Condohotels.— In the case of the condohotels, and solely for the purpose of this exemption, any person in charge of the administrative duties and of the physical and intellectual tasks inherent to the construction of a condohotel and any intermediary acting between said person and the owner of a condohotel unit, including the developer of the condohotel when the latter has contracted with another for the construction of the condohotel, shall be deemed as contractor of an exempted business regarding every unit of the condohotel which fulfills all the requirements that shall allow the same to enjoy the benefits available by this chapter, including, but not being limited to the requirement of its being devoted to an integrated leasing program for at least eleven (11) months per year.
(C) Amount to be taken as exemption in the case of condo hotels.— The amount to be taken as exemption in the case of a condo hotel pursuant to this clause, shall be divided and assigned regarding every unit of the condo hotel according to the proportion of the interest of each unit regarding the common elements of the regime when all units of the condo hotel are devoted to a single condo hotel regime, or by using any prorating method acceptable to the Director when the units are devoted to more than one (1) condo hotel regime.
The exemption shall be taken in full for the year in which it is required to meet the tax obligation for the construction. However, it shall be understood that taxpayers shall be entitled to take as exemption a one hundred twentieth (120th) part of the amount available as assigned prorated exemption in relation to each unit during each consecutive month in which said units are devoted from the time of their construction to an integrated leasing program; Provided, That the exemption taken at the time of the development and construction of the condo hotel shall be equal to the total amount of the exemption, which would finally be obtained on that account in case all units of the condo hotel are devoted to an integrated leasing program for the number of months agreed by the parties during each of the first ten (10) years (equal to one hundred and twenty (120) months) after each unit has been built.
The amount taken as a result of the applicable exemption shall be reduced annually in relation to those units:
(i) That are acquired during said year from the entity which developed and built them, which have never been used prior to said acquisition for any purpose whatsoever and which are not devoted by the acquirer to an integrated leasing program within the time limit provided by the Director, during which said units must be devoted to such a purpose so that they may enjoy the benefits of the law, or
(ii) that during said particular year, they have not met for the first time the requirement of being devoted to an integrated leasing program for the number of months per year agreed by the parties.
The equivalent of that reduction in the amount taken on account of the exemption may be recovered annually by the municipality from the taxpayers. The amount to be recovered annually shall be calculated in the following manner:
(i) The total portion of the exemption assigned according to this clause shall be taken for each unit that during said year and that for the first time has not fulfilled the requirement of being devoted for the number of months per year agreed by the parties to an integrated leasing program, and multiplied by a fraction whose numerator shall be equal to the product of one hundred and twenty (120), minus the number of consecutive months during which said unit fulfilled the requirement of being devoted as agreed by the parties to an integrated leasing program, and whose denominator shall be one hundred and twenty (120).
(ii) The results obtained from the corresponding equations for each unit described in the preceding sentence shall be added and the final result thereof shall be the total amount of the exemption taken in excess and subject to recovery for said year. Under no circumstances shall any charges, surcharges, penalties, interest or any other kind of fee be levied or charged regarding any tax, levy, fee, license, excise tax, import tax or duty, whose amount is required pursuant to the provisions of this clause for reasons arising before or at the time it was determined that said exemption is not in order under the law in whole or in part.
When calculating the number of months said unit was devoted to an integrated leasing program, the fractions of the months shall be rounded up to the preceding month.
As a condition for being eligible for the exemption set forth herein, any municipality, with the prior consent of the Director, may require that regarding any tax, levy, fee, license, excise tax, import tax or duty on the construction of a condo hotel, or any person who has proprietary interest on said taxpayers, be they entities of any type, post a security or bond to ensure the payment of any tax amount indebted according to the provisions of this paragraph.
The operator of the integrated leasing program of a condo hotel shall submit an annual report to the director of finances of the municipality or municipalities where the condo hotel is located, should said municipality or municipalities impose any tax, levy, fee, license, excise tax, import tax or duty on the construction of a condo hotel. Said report shall indicate the dates on which the participating units began to participate in the program, as well as the date or dates on which one (1) or more units withdrew from the program.
For the purposes of this paragraph, should an investor in a condo hotel fail to fulfill any requirement established in the concession granted for such a purpose, or should the same be revoked for any reason, it shall be deemed that said investor failed to devote the condo hotel unit(s) covered under said concession to an integrated leasing program. The Director shall notify the director of finances of the corresponding municipality in case an investor has failed to fulfill any requirement established in its concession or if said concession has been revoked.
(D) Administration of the exemption.— Any dispute over the imposition of any tax, levy, fee, license, excise tax, import tax or duty on the construction of works to be devoted to any tourist related activity shall be handled following the procedures established by the municipality for that purpose. Likewise any dispute concerning the applicability of the exemption herein described, including the mechanism for determining the applicable exemption in the case of condohotels, shall be handled before the Puerto Rico Tourist Company following the procedures established by the Director for that purpose pursuant to this chapter and §§ 2101 et seq. of Title 3, known as the “Uniform Administrative Procedures Act of the Commonwealth of Puerto Rico”.
(E) Exception.— In the cases of condohotels, it is herein established as an exception to the condition that requires that in order to enjoy the exemption from municipal construction taxes, every condohotel unit shall be engaged in an integrated leasing program from a term of ten (10) consecutive years, and for eleven (11) months per year, in those cases in which the use of the condohotel project changes and the units of the condohotel are withdrawn from the integrated leasing program before the term required by this chapter to such effects expires, provided that the unit that is an exempt business is immediately devoted to another tourist activity that is an exempt business pursuant this chapter, for not less than the remaining term of the ten (10) years period under the integrated leasing program. If this condition is not met, the following buyer of the unit shall be responsible for any sum that has to be subsequently recovered for this tax taken in excess; it being understood that no recovery shall occur for the years in which the unit was part of an integrated leasing program and of other tourism activity that is an exempt business under this chapter.
(6) Special rule; municipal business licenses; determination of volume of business.— The contractors or subcontractors performing works for an exempt business, shall determine their volume of business for purposes of the municipal business licenses, deducting the payments to subcontractors under the primary contract with the exempt business. The subcontractors who in turn, use other subcontractors within the same project, shall also deduct those payments in the determination of their volume of business.
A contractor or subcontractor may deduct the payments described in the above paragraph from their respective volume of business only if said contractor or subcontractor certifies to the director that he did not include an item equivalent to the municipal business license resulting from the volume of a business deducted pursuant to this paragraph, in the contract signed for the works or services to be rendered with regard to the exempt business. Every contractor and subcontractor performing works for an exempt business shall file a copy of every contract related to said works, within ten (10) calendar days from its signing, in the municipality or municipalities where said works shall be performed and shall provide the name, physical and postal address, and employer number of every subcontractor. The director shall provide through regulations:
(A) The requirements and procedures to determine if the signed contract complies with the provisions of this clause, including the filing of a copy thereof in the corresponding municipality or municipalities.
(B) The penalties for failure to comply with the provisions of this clause.
(7) Program for the distribution of revenues among the owners of condohotel units and the operator of the integrated leasing programs established for said condohotels.— The individual lease agreements executed pursuant to this chapter between the owners of condohotel units and the entity devoted to operate the integrated leasing program for said condohotels, which contain similar terms and conditions, and whose contracting parties have been granted a concession pursuant to this chapter when said agreements were executed, or who after said agreements are granted a concession pursuant to this chapter to take effect retroactively, be it at the time of entering into said agreements or at any time prior thereto, and even when said concessions are subsequently revoked for any reason whatsoever, and when said contracting parties and the operator accept a lease contract through said agreements based on a formula contained in said agreements which takes into consideration the gross revenues generated by the leasing of all units included in the lease program, as well as the expenses attributable to said revenues and the costs incurred in all units, it shall be deemed that said lease agreements do not have the effect of creating among said contracting parties a partnership or any other type of legal entity constituted by the contracting parties and that each contracting party continues as owner of its respective unit. To that effect [it] shall also be deemed that:
(A) For income tax purposes, the share of the gross revenues attributed to each contracting party shall be received by the latter directly from the tenant of the condohotel and not from a partnership or any other type of legal entity constituted by the latter, and that, likewise, the related corresponding expenses similarly attributed shall be generated directly by each contracting party and not by any other type of legal entity constituted by the latter; Provided, That every contracting party who is an investor shall enjoy the income tax exemption provided in this section regarding its distributed net revenues, while those who are not entitled to said exemption shall pay taxes according to their applicable tax rate pursuant to §§ 8006 et seq. of Title 13.
(B) For municipal license purposes, the share of the gross revenues attributed to each contracting party according to the distribution formula agreed to in said agreements shall be the volume of business to be declared in the annual declaration rendered to the corresponding municipality and that said volume of business is received by every contracting party who is an investor directly from the tenant of the condohotel and not from a partnership or any other type of legal entity constituted by the latter; Provided, That every investor shall enjoy the exemption from the payment of municipal licenses provided in this section regarding its gross revenues generated according to said distribution formula, while those who are not entitled to said exemption shall pay taxes according to their applicable tax rate pursuant to §§ 651 et seq. of Title 21, known as the “Municipal Licenses Act”.
(C) For real and personal property taxes purposes, the title deed on condohotel units shall belong to those contracting parties who have invested in condohotel units and not to a partnership or any type of legal entity created by an agreement between these and that the taxes on real and personal property shall be levied for each investor accordingly; Provided, That every contracting party who is an investor shall enjoy the tax exemption on real and personal property provided in this section regarding its real and personal property used in the condohotel, while those who are not entitled to said exemption shall pay taxes according to their applicable tax rate pursuant to any municipal or Commonwealth tax law or any real and personal property tax law.
(b) Commencement of the exemption.—
(1) The exemptions provided in subsection (a) of this section shall commence:
(A) With regard to taxes on tourist industry development income of a tax exempt business, from the first day that its tourist related activity begins, but never before the date a petition to avail itself of the benefits of this chapter is duly filed.
(B) With regard to taxes on real and personal property devoted to a tourist related activity of an existing business that is an exempted business, as of January 1st of the calendar year during which a petition to avail itself of the benefits of this chapter has been duly filed with the director, or with regard to a new business that is an exempted business, as of January 1st of the calendar year in which its tourist related activity commences.
(C) With regard to municipal business licenses, excise taxes and other municipal taxes, as of January 1st, or the nearest July 1st, after a petition to avail itself of the benefits of this chapter has been duly filed.
(D) With regard to taxes levied under §§ 9001 et seq. of Title 13, thirty (30) days after a petition to avail itself of the benefits of this chapter has been duly filed, provided that a bond is posted pursuant to the applicable provisions of §§ 9001 et seq. of Title 13, prior to the date chosen to commence this exemption, and that the aforementioned petition has not been denied. In the event that the petition for exemption is denied, the taxes referred to in this paragraph shall be paid within sixty (60) days from the notice of the denial.
(E) With regard to the municipal construction taxes, as of the date on which a petition to avail itself of the benefits of this chapter has been duly filed; Provided, That in the case of the condohotels, the contractors and subcontractors shall commence to enjoy the exemption from the date the developer files a petition for an original concession in which the nature of the project is described and which meets those additional requirements established by the director for such a purpose.
(2) An exempted business shall have the option to postpone each of the commencing dates referred to in clause (1) of this subsection, through a notice to such effects to the Director and the Secretary. Said notices shall be filed on or before the date provided by the regulations promulgated to such effects. The commencement dates shall not be postponed for a period greater than thirty-six (36) months following the date established in clause (1) of this subsection. The director shall issue an order fixing the commencement dates of the exemption periods under this chapter, pursuant to the exempted business’s petition and according to the regulations promulgated for such purposes.
(3) The exemption percentage applicable to each concessionaire, as well as the conditions under which the concession shall be granted, shall be determined pursuant to the provisions referring to said matter, contained in the regulations to be issued under this chapter.
(c) Limitations.— None of the contents of subsection (b) of this section shall authorize the rebate of those taxes that were properly assessed, levied and paid prior to the dates mentioned in subsection (b) of this section.
History —Sept. 10, 1993, No. 78, § 3; Jan. 8, 1994, No. 3, § 2; Sept. 27, 1994, No. 114, § 2; Dec. 20, 1997, No. 179, § 2; Aug. 17, 1999, No. 272, § 1; Feb. 18, 2008, No. 13, § 1; Aug. 12, 2008, No. 249, § 13; July 10, 2010, No. 74, § 18.