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) › § 10440 - Periodic reports to the Governor and the Legislature

(a) In general. — Notwithstanding any other report required by law, the Secretary of Development, in consultation with the Secretary of the Treasury, the Director, the Director of Development, the Executive Director, and the Planning Board shall render a yearly report to the Governor and the Legislature on the economic and fiscal impact of this subchapter. Said report shall be filed within one hundred and eighty (180) days following the closing of each fiscal year.
(b) Required information. — The Secretary of Development shall request the information below to Government agencies, the municipalities or exempt businesses, as applicable, in order to draft the report required under subsection (a) of this section:
(1) The number of exemption applications submitted and approved;
(2) the total investment in machinery and equipment, number of jobs and projected payroll by the exempt businesses;
(3) description of any additional incentive received by the exempt businesses, whether from local or municipal Government funds;
(4) taxes paid by the exempt businesses on account of income, royalties and other, and the use of incentives such as tax credits and special deductions;
(5) payment of municipal taxes;
(6) comparison between the liabilities incurred by exempt businesses with respect to their employment level and other conditions set forth under the decree, and
(7) any other matters needed to inform the Governor and the Legislature as to the scope and effects of implementing this chapter.
(c) Additional information. — These reports shall include an evaluation of the factors related to the development of green energy sources of Puerto Rico, such as the government processing of permits, licenses, authorizations, grants and any other similar matters, the availability of property for the eligible activity, and the availability of skilled manpower.
(d) Report by the Secretary of Treasury. — Notwithstanding any other report required by law, the Secretary of the Treasury shall likewise render a yearly report to the Legislature indicating the manner in which the exempt businesses have fulfilled their tax obligations, including a comparison with the previous year and a projection of said conduct for the next three (3) years following the year to which the report corresponds. Said report shall be filed within one hundred and eighty (180) days following the closing of each fiscal year.
The Department of the Treasury, together with the Industrial Development Company and the Administration, shall establish the necessary questionnaires and regulations to attain the purposes of this section.
(e) Cooperation among agencies. — The Government agencies and the municipalities shall furnish the information provided in this section to the Secretary of Development and the Secretary of the Treasury. The Secretary of Development may establish through regulations the manner and procedures as necessary to ensure the exchange of information required in this section.
History —July 19, 2010, No. 83, § 2.19.