reglab/statecodes huggingface dataset:
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34 - Act for the Development of the Film Industry (§§ 571-577a — 577a) › Subchapter V - Tax Credit (§§ 575 — 575e) › § 575b - Tax credits—Infrastructure project

A tax credit shall be granted to investors in an infrastructure project, equal to the lesser amount of the following:
(a) Forty percent (40%) of the amount of the investment in cash paid to the film entity engaged in an infrastructure project, in exchange for primary-issue stock or shares, or
(b) twenty percent (20%) of the budget of the infrastructure project.
(c) If any eligible infrastructure project which generates credit under this section ceases its eligible operations before the expiration of a five (5) year period counted as of the date of the eligible investment was made, the investor shall owe, as income tax, an amount equal to the infrastructure project credit claimed by said investor, multiplied by a fraction whose denominator shall be five (5) and whose numerator shall be the five (5) year period balance required in this subsection. The amount owed on account of income taxes shall be paid in two (2) installments, commencing on the first taxable year following the cessation date of the eligible activity. The Secretary of the Treasury may require as a condition for his/her endorsement to or approval of the credit that the investor posts a bond or any other kind of security in favor of the Secretary of the Treasury in order to respond in the event that the credits are revoked.
(d) No tax credit whatsoever shall be granted for those budget items paid to Puerto Rico residents that are paid in cash or by means of any kind of contribution or appropriation from any department, agency, administration, bureau, board, commission, office, instrumentality, public corporation or municipality of the Commonwealth of Puerto Rico, as well as the Legislative Branch. Thus, any incentive, appropriation, subsidy or any other kind of contribution from these entities, used to pay budget items paid to Puerto Rico residents shall not qualify for the tax credit.
Any investment made with cash proceeding from financing secured by the film entity engaged in an infrastructure project itself or by its assets, shall not be deemed to be an investment in cash.
History —Dec. 24, 1999, No. 362, § 16; Aug. 19, 2009, No. 81, § 3.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34 - Act for the Development of the Film Industry (§§ 571-577a — 577a) › Subchapter V - Tax Credit (§§ 575 — 575e) › § 575c - Availability of tax credits—Infrastructure projects

(a) Fifty percent (50%) of the tax credit provided in § 575b of this title shall be available to the investor in the taxable year in which the accountant certifies to the Secretary that forty percent (40%) of the budget has been disbursed. However, the film entity may advance the date of availability of said portion of the tax credit if it posts a bond in which the Secretary of the Treasury is designated as beneficiary. In this case, said portion of the tax credit shall be available on the date said bond is posted.
(b) The remaining fifty percent (50%) of the credit shall be available in the taxable year in which the accountant certifies to the Secretary that the remaining sixty percent (60%) of the budget has been disbursed and that the project has been substantially concluded.
(c) If as of the date provided in subsection (b) of this section for credit availability, the film entity should determine that the total credit granted by the Commissioner is greater than the total credit to which it is entitled under § 575 of this title (actual credit) after budget disbursements have been made, the portion of credit available under subsection (b) of this section shall be reduced by the difference between the credit determined by the Commissioner and the actual credit.
(d) The certificate issued by an accountant on or before the deadline, including time extensions, to file the income tax return, shall be deemed as issued within the taxable year for which the income tax return is being filed. The same treatment shall be given upon posting of bond.
(e) When requested by the film entity in the license application, the Commissioner shall treat the different stages of the infrastructure project separately and authorize the granting of credits by stages as if each stage were an infrastructure project, should the nature, size and scope of said project justify such treatment.
History —Dec. 24, 1999, No. 362, § 17.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34 - Act for the Development of the Film Industry (§§ 571-577a — 577a) › Subchapter V - Tax Credit (§§ 575 — 575e) › § 575d - Maximum credits available and other provisions

(a) The maximum tax credits available to be generated under this chapter shall be fifteen million dollars ($15,000,000) per fiscal year. However, in those cases in which the Commissioner and the Secretary of the Treasury evaluate the activities to be carried out by a film entity, and find that they shall contribute substantially to the economic development of Puerto Rico, the Secretary may authorize the credits, even though credits up to the limit of fifteen million dollars ($15,000,000) have already been granted for a specific fiscal year.
(b) The Commissioner, with the recommendation of the [Motion Picture] Corporation, shall authorize the credits applied for up to the limit provided in this section per fiscal year, taking into account the number of jobs to be created at a short-, medium-, and long-term, business experience in the film industry, and other factors related to the film entity as established through regulations.
(c) The Commissioner and the Secretary of the Treasury shall reserve the tax credits applied for by a film entity when the license application is endorsed by the Secretary. The Commissioner shall confirm in writing to the film entity the amount of tax credits that, subject to compliance with the provisions of this chapter, shall be available to the film entity within the term established by the Commissioner, regardless of whether the annual cap has been reached.
History —Dec. 24, 1999, No. 362, § 18; Aug. 19, 2009, No. 81, § 4.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34 - Act for the Development of the Film Industry (§§ 571-577a — 577a) › Subchapter V - Tax Credit (§§ 575 — 575e) › § 575e - Distribution and use or extension of tax credit

(a) The tax credits may be used by the investor in a film entity, or by his assignee, to pay the income taxes determined under §§ 8401 et seq. of Title 13, exclusively. The credit may be claimed or assigned, totally or partially, when:
(1) The accountant certifies that the corresponding items of the budget have been spent or that the bond has been posted, as the case may be, and
(2) the film entity notifies the Commissioner, the Secretary of the Treasury and each investor of the credit amount corresponding to each investor him/herself given the proportion between the amount in cash he/she contributed to the capital of the film entity and the total of tax credits generated thereby.
The notice of distribution of credit among the investors shall be accompanied by the accountant’s certification. Said notice shall contain the information that the Commissioner and the Secretary of the Treasury determine through circular letter or regulations.
(b) Every tax credit not used in a taxable year may be carried over to subsequent years until it is exhausted.
(c) The assignee of a credit shall not assign the credit and may only claim it to pay the taxes described in subsection (a) of this section.
(d) The money or value of the property that the investor receives in exchange for a tax credit, shall be exempted from taxes under §§ 8006 et seq. of Title 13, up to a sum that is equal to the amount of credit transferred. When the amount paid for a credit is less than the amount of the credit, the difference shall not be deemed as income for the assignor, nor a loss for the investor.
(e) The investor and the assignee of tax credits have the obligation to notify the assignment, in writing, to the Commissioner and the Secretary of the Treasury.
(f) To claim tax credits, the investor or the assignee, as the case may be, shall have to attach copy of the following documents to their income tax return:
(1) The license of the film entity in which he/she invested;
(2) notice to the Commissioner, the Secretary of the Treasury and investors of the distribution of credits;
(3) certification of the accountant of the expenses disbursed from the budget or the posting of bond, as the case may be, and
(4) in the case of assignees, notice of assignment remitted to the Secretary of the Treasury and to the Commissioner.
History —Dec. 24, 1999, No. 362, § 19.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34 - Act for the Development of the Film Industry (§§ 571-577a — 577a) › Subchapter VI - Tax Treatment (§§ 576 — 576a) › § 576a - Tax base

The tax base of the investment made in a film entity shall be determined pursuant to the provisions of §§ 8006 et seq. of Title 13, except that said base shall be reduced dollar-per-dollar by the amount of the tax credits that the investor is empowered to use or assign, regardless of the time it is claimed or the tax credit is ceded, but never at less than zero.
History —Dec. 24, 1999, No. 362, § 21.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34 - Act for the Development of the Film Industry (§§ 571-577a — 577a) › Subchapter VII - Miscellaneous Provisions (§§ 577 — 577a) › § 577a - Administrative decisions; finality

(a) All decisions or determinations of the Commissioner and the Secretary shall be final and no judicial review shall proceed against these, except when provided otherwise in this chapter.
(b) Every applicant adversely affected or injured by any action of the Commissioner revoking and canceling a license or denying a transfer, shall be entitled to judicial review thereof pursuant to the terms and conditions established through regulations to be promulgated by the Commissioner to such effect, pursuant to the provisions of §§ 2101 et seq. of Title 3. During the judicial revision process, the Commissioner is hereby authorized, when in his/her judgment the demands of justice require it, to postpone the effective date of any action taken under those conditions required and to the point necessary to prevent irreparable damage. When said postponement is requested and the same is denied, the court before which the revision is requested, including the Supreme Court of Puerto Rico, through a writ of certiorari, as provided hereinafter, may order any process deemed necessary and appropriate to postpone the effective date of any action taken by the Commissioner, to preserve the status or rights of the parties until the review procedures are completed, upon posting a bond in favor of the Secretary of the Treasury, subject to his/her approval, and for the amount of unpaid taxes, plus interest and penalties, in addition to interest computed for a period of one year at the prevailing legal rate.
History —Dec. 24, 1999, No. 362, § 23.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34A - Santurce Theater District (§§ 591 — 591k) › § 591a - Creation

A theater district is hereby created within the area of Santurce in the municipality of San Juan, which shall be rehabilitated and developed according to the provisions of this chapter and, as [a] complement, pursuant to the provisions of §§ 226 et seq. of this title.
History —Aug. 18, 2000, No. 178, § 3.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34A - Santurce Theater District (§§ 591 — 591k) › § 591b - Establishment and geographical boundaries

The Santurce theater district shall extend along Avenida Ponce de León, from Calle Bolívar to Calle Ernesto Serra, where the following theater and movie facilities, some currently in use, are located, to wit: Metropolitan, Matienzo, Music Hall, Radio City, El Josco, Centro de Bellas Artes, Escuela Superior Central, Georgetti, Salvador Brau, Paramount, Ambassador, Nuestro Teatro and Teatro Metro. The district shall also include Teatro Cinerama and the Rex Cinema on Avenida Fernández Juncos and the Teatro del Museo de Arte de Puerto Rico, to be built on Calle De Diego, as well as the Teatro Riviera, located on Calle Loíza.
History —Aug. 18, 2000, No. 178, § 5.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34A - Santurce Theater District (§§ 591 — 591k) › § 591c - Designation

The Planning Board shall designate the special zone created by this chapter, according to the Integral Development Plan to be established in coordination with the task force, created below. Said designation shall make possible the concession of the incentives and benefits consigned in §§ 226 et seq. of this title and this chapter.
The development plan shall also include distinctive elements that will clearly identify the theater district area such as: billboards, and properly lighted marquees, and the development of related activities and services.
History —Aug. 18, 2000, No. 178, § 6.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34A - Santurce Theater District (§§ 591 — 591k) › § 591d - Task Force—Creation

A task force for the development of the Santurce theater district is hereby created, of indefinite duration, which shall be chaired by the Chairperson of the Planning Board and constituted by the Executive Director of the Institute of Puerto Rican Culture, the Administrator of the Regulations and Permits Administration, the Director of the Municipal Revenues Collection Center, the President of the Musical Arts Corporation, the Director of the Corporation for the Development of the Film Industry in Puerto Rico, the major of the municipality of San Juan, the President of the College of Theater Actors of Puerto Rico and any other person whom the Chairperson of the Planning Board may deem necessary.
The task force herein constituted shall work in close coordination with the Special Interagency Task Force for Santurce created by § 226k of this title and shall meet at least once every two months in the jurisdiction of the municipality of San Juan.
The task force shall submit a report not later than the 28th of February of each year to the President of the Senate and the Speaker of the House of Representatives on its actions and achievements. The report shall include details about the problems and situations of the theater district with which it has had to deal, the strategies adopted, the solutions obtained, the priorities, work plans, problems, solutions, achievements and suggestions for legislative or administrative reform.
History —Aug. 18, 2000, No. 178, § 7.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34A - Santurce Theater District (§§ 591 — 591k) › § 591e - Application of incentives

The incentives provided in §§ 226d—226j of this title shall apply in the Santurce theater district to the properties, businesses and industries that meet the specifications of the Santurce theater district zone:
(a) Tax exemption to substantially rehabilitated eligible property or newly built property.
(b) Release from the payment of interest, surcharges and penalties on real property taxes owed by an eligible property, as defined in § 226n of this title to the date the exemption is granted [, as provided in the law].
(c) Special Incentives for Eligible Property under the Reasonable Rentals Act.
(d) Development bank guarantee for feasible substantial rehabilitation or improvements projects or new construction eligible property projects to be developed in the Santurce theater district, to be granted for a period of ten (10) years, as of the date of effectiveness of this act. The Development Bank may ensure the guarantees it grants through an insurance. The funds to pay the insurance may proceed from the collection of five percent (5%) of the value of the mortgage loans executed in Santurce and guaranteed by the Development Bank.
The Development Bank shall submit a special report to the Legislature with an evaluation of its participation for granting the guarantees authorized by this chapter, including an itemized list of the applications received as well as its determinations regarding the same.
(e) Incentives for the creation of jobs in businesses and industries.
(f) Other incentives for businesses and industries, consisting of exemption from the payment of income taxes on half the net income obtained from the sale of the tickets for cultural and artistic performances given in the Santurce theater district in establishments located in newly built or substantially rehabilitated structures or those structures object of improvements, for a period of five (5) years as of the date on which the construction, substantial rehabilitation or improvements are completed. In order to obtain these benefits said construction, rehabilitation or improvements must be carried out within a period of five (5) years as of the date of the designation of the zone in which the establishment is located. The Department of the Treasury shall establish the procedure for obtaining said exemption through regulations.
The task force, through its components, may establish other additional incentives related to cultural performances that promote public participation.
History —Aug. 18, 2000, No. 178, § 8.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34A - Santurce Theater District (§§ 591 — 591k) › § 591f - Requirements

To be able to obtain the tax benefits established in this chapter and while enjoying the same, it is required that all natural or juridical persons be up to date in their obligations with the Commonwealth of Puerto Rico and all its dependencies, agencies and instrumentalities and with the municipality of San Juan.
Provided, furthermore, That in order to obtain said tax benefits and be able to enjoy them during the periods provided in this chapter, the benefited properties and businesses must comply with all planning regulations applicable to the sector and with those that have been promulgated as guidelines for the development of this theater zone.
History —Aug. 18, 2000, No. 178, § 9.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34A - Santurce Theater District (§§ 591 — 591k) › § 591g - Other provisions

The Institute of Puerto Rican Culture, the Department of the Treasury, the Municipal Revenues Collection Center, the Development Bank, the Planning Board and any other agency which the Chairperson of the Planning Board believes may be authorized to those effect, are hereby authorized to approve rules and regulations to comply with the provisions of this chapter.
History —Aug. 18, 2000, No. 178, § 10.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34A - Santurce Theater District (§§ 591 — 591k) › § 591i - Certification

The Chairperson of the Planning Board, in consultation with the Executive Director of the Institute of Puerto Rican Culture and the Secretary of the Treasury, shall issue a certification indicating that the theatrical investor is engaged in the exploitation of a theatrical business. The Secretary of the Treasury shall determine whether the latter, when filing his or her income tax return has complied with the requirement regarding the fifty percent (50%) of the revenues of the theatrical business to be deemed as a theatrical contractor.
History —Aug. 18, 2000, No. 178, § 12.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34A - Santurce Theater District (§§ 591 — 591k) › § 591j - Evaluation

The Task Force, as constituted in § 591d of this title, shall render a report to the Legislature three (3) years after the tax exemptions, the tax credits and other benefits provided in this chapter have been in effect.
Said report shall contain a detailed analysis of the effect which the designation as theater district and the tax incentives and other benefits provided in this chapter have had in the development of the zone comprising the Santurce theater district, including an exemption of the rehabilitated units, theaters, movie houses, buildings, residences and any other structure, as well as any other relevant information to allow the Legislature to evaluate the effectiveness of the incentives provided in this chapter.
History —Aug. 18, 2000, No. 178, § 13.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34A - Santurce Theater District (§§ 591 — 591k) › § 591k - Time to apply for incentives, deductions, credits, and other benefits

No applications shall be accepted and no incentives, credits, deductions, or any other benefits granted by virtue of §§ 591e and 591h of this title be awarded for taxable years beginning after December 31 st, 2012.
History —Aug. 18, 2000, No. 178, added as § 14 on Nov. 17, 2015, No. 187, § 64.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34B - Puerto Rico Motion Picture Arts, Sciences and Industry Development Corporation Act (§§ 592 — 599a) › Subchapter I - General Provisions (§ 592) › § 592 - Definitions

The following words and terms shall have the meaning set forth below, except when from the text of this part it is clear that it has another meaning:
(a) Legislature.— Means the House of Representatives and the Senate of Puerto Rico, acting jointly or separately.
(b) Governor.— Means the Governor of the Commonwealth of Puerto Rico.
(c) Motion picture arts, sciences and industries.— Means every artistic and technological activity in connection with the production of feature films for theatrical distribution.
(d) Corporation.— Means the Puerto Rico Motion Picture Arts, Sciences and Industry Development Corporation.
(e) Fund.— Means the Puerto Rican Motion Picture Arts, Sciences and Industry Development Corporation Fund.
(f) Film.— Means celluloid film, photos, stills, slides, filmstrips, photographic exhibitions and other related forms of visual representation.
(g) Government body.— Means every department, agency, division, public corporation, political subdivision or any other instrumentality of the Government of the Commonwealth of Puerto Rico.
(h) Film development zones.— The geographic areas established pursuant to the Puerto Rico Film Industry Economic Incentives Act.
(i) Puerto Rico Film Industry Economic Incentives Act.— The “Puerto Rico Film Industry Economic Act”.
History —Aug. 17, 2001, No. 121, § 1.03; Mar. 4, 2011, No. 27, § 9.6(c).
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34B - Puerto Rico Motion Picture Arts, Sciences and Industry Development Corporation Act (§§ 592 — 599a) › Subchapter II - Creation of the Corporation; General Duties (§§ 593 — 593b) › § 593 - Creation

The Puerto Rico Motion Picture Arts, Sciences and Industry Development Corporation is hereby created. Said corporation shall have perpetual existence, independent juridical standing, and shall be attached to the Department of Economic Development and Commerce. It shall likewise have the capability of suing and being sued. It is hereby established that the resources and facilities to be administered by said corporation shall be used for the purposes established herein and not for private purposes, nor shall it be primarily intended for politico-partisan, or sectarian propaganda. The establishment of the Puerto Rico Motion Picture Arts, Sciences and Industry Development Corporation shall not be deemed in any way as an institutionalized form of censorship or bias against any particular trend within said form of art.
History —Aug. 17, 2001, No. 121, § 2.01.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34B - Puerto Rico Motion Picture Arts, Sciences and Industry Development Corporation Act (§§ 592 — 599a) › Subchapter II - Creation of the Corporation; General Duties (§§ 593 — 593b) › § 593b - Personnel system

The corporation shall have an autonomous personnel system, based on the merit principle, but shall be exempt from the application of Act No. 5 of October 14, 1975, known as the “Puerto Rico Public Service Personnel Act”. This system shall include two (2) employee categories: (1) career employees and (2) those known as confidential employees, who are subject to discretionary appointment and removal. Furthermore, other classifications may be created in order to hire personnel in emergency situations or on a short term basis.
The executive director shall implement and administer the personnel system through regulations to be submitted for the approval of the Board of the corporation, with the prior recommendation of the Central Labor Advisory and Human Resources Administration Office of Puerto Rico (OCALAR, Spanish acronym).
History —Aug. 17, 2001, No. 121, § 2.03.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34B - Puerto Rico Motion Picture Arts, Sciences and Industry Development Corporation Act (§§ 592 — 599a) › Subchapter III - Board of Directors (§§ 594 — 594a) › § 594 - Components; term

The powers, authorities and duties, as well as the operating and administrative policies of the Puerto Rico Motion Picture Arts, Sciences and Industry Development Corporation, shall be exercised by a Board of Directors.
The Board shall be constituted by the Secretary of the Department of Economic Development and Commerce, who shall preside over the Board, the Chairperson of the Board of Directors of the Puerto Rico Public Broadcasting Corporation, the Secretary of the Treasury, the Executive Director of the Institute of Puerto Rican Culture, and the Executive Director of the Tourism Company or the persons whom the aforementioned officials may designate as their representatives. The Board shall also be made up of two (2) citizens from the private sector representing the public interest, to be appointed by the Governor with the advice and consent of the Senate, and at least one (1) of whom shall have renowned interest, knowledge and experience in the motion picture arts, sciences and industry (actors, screenwriters, producers, etc.).
The appointments of the public interest members of the board shall be made for a term of (4) years; Provided, That the first appointments under this chapter shall be made in a staggered manner, to wit: one member for the term of four (4) years; one for the term of five (5) years, and one for the term of six (6) years.
Every public interest member of the board of directors shall be paid a per diem in the amount of fifty dollars ($50) for each day of work as an active member of the board; Provided, That if the person appointed is an official or employee of the Government of Puerto Rico, he/she shall not be paid any per diem whatsoever.
The board shall meet at least twice during the year, and for purposes of deliberations and determinations, quorum shall be constituted by a simple majority of its members.
History —Aug. 17, 2001, No. 121, § 3.01; Aug. 28, 2002, No. 205, § 1; Jan. 4, 2010, No. 2, § 1.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34B - Puerto Rico Motion Picture Arts, Sciences and Industry Development Corporation Act (§§ 592 — 599a) › Subchapter III - Board of Directors (§§ 594 — 594a) › § 594a - General powers and duties

The board shall [sic] of directors shall have the following powers in order to comply with the duties and responsibilities defined in this chapter:
(a) To adopt, alter and use a corporate seal.
(b) To adopt, amend and repeal regulations governing its affairs and activities, and to prescribe rules, regulations and norms necessary to comply with its functions and duties, pursuant to §§ 2101 et seq. of Title 3, known as the “Commonwealth of Puerto Rico Uniform Administrative Procedures Act”.
(c) To see to [it] that the moneys appropriated to the fund be used for the purposes provided in this chapter. To such effects, the board shall prepare and promulgate the regulations necessary for administering and granting said resources; Provided, also, That the board of directors may not use or encumber the resources of the funds for administrative expenses.
(d) [Repealed. Act Aug. 28, 2002, No. 205, § 2, eff. Aug. 28, 2002.]
(e) To create an advisory body through regulations in order to expedite the duties of the board.
(f) To act as the governing body of the fund, with exclusive powers to authorize financing and other repayable benefits to be granted by the board itself; to adopt bylaws for its administration and operation, as well as the standards to be observed for the administration of the fund and for granting such appropriations and other repayable benefits. The board of directors shall also fix through regulations all matters pertaining to the mechanisms for recovering all items disbursed from the fund.
History —Aug. 17, 2001, No. 121, § 3.02; Aug. 28, 2002, No. 205, § 2.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34B - Puerto Rico Motion Picture Arts, Sciences and Industry Development Corporation Act (§§ 592 — 599a) › Subchapter IV - Executive Director (§§ 595 — 595a) › § 595 - Appointment; term

The Secretary of the Department of Economic Development and Commerce shall recommend to the board the candidate to hold the position of executive director of the corporation and the board shall confirm the appointment of said executive director.
History —Aug. 17, 2001, No. 121, § 4.01.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34B - Puerto Rico Motion Picture Arts, Sciences and Industry Development Corporation Act (§§ 592 — 599a) › Subchapter IV - Executive Director (§§ 595 — 595a) › § 595a - General powers and responsibilities

In order to comply with the duties and responsibilities defined in this chapter, the executive director shall have the following powers and responsibilities:
(a) To acquire by legal means any personal and real property, tangible and intangible, or any right or interest thereon; to retain, preserve, use or operate the same and to sell, lease or otherwise dispose of said property.
(b) To receive and administer any gift, grant or donation of any real or personal property, or any financial resources exclusively allotted to achieve his or her purposes.
(c) To enter into and execute agreements, lease contracts and any other instruments necessary or pertinent in the exercise of his or her powers and functions.
(d) To acquire any property or interest thereon by any legal means, including but not limited to, the acquisition through purchase, lease, bequest, gift or donation and to own, preserve, use and operate such property or interest thereon.
(e) To maintain business premises or offices in a location to be determined.
(f) To contract and appoint those employees needed for the proper operation of the Corporation.
(g) To take all steps necessary or convenient to exercise the powers conferred by this chapter and any others entrusted by the board of directors.
(h) To be a member of the board of directors of the Corporation with the right to voice but without vote.
(i) To compile a data bank on the existing talent in Puerto Rico with regard to the arts and production of motion pictures, which shall be available to any individual or organization recognized locally and internationally with an interest in developing a motion picture project in Puerto Rico or abroad, using Puerto Rican human resources.
History —Aug. 17, 2001, No. 121, § 4.02.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34B - Puerto Rico Motion Picture Arts, Sciences and Industry Development Corporation Act (§§ 592 — 599a) › Subchapter V - Specific Duties (§§ 596 — 596a) › § 596 - Annual reports

It shall be the duty of the Corporation to submit, within ninety (90) days after the close of each fiscal year, an annual report [to the Governor and to the Legislature] that shall include:
(a) The total available funds, detailing their source, including those proceeding from donations received and from the interest accrued on account of the investment of the moneys of the fund allowed by this chapter.
(b) The financial support, tax credits, incentives, donations, financing and other incentives authorized and granted during the term comprised by the report, stating the natural persons, nonprofit organizations, partnerships, associations or groups to which the same have been granted.
(c) A breakdown of the total investments made by the fund during the term comprised by said report.
(d) The balance of the available moneys in the fund for the term following [the] report.
(e) The number of production proposals approved and those currently under consideration and evaluation for the corresponding term of the report.
(f) A detailed list of all the transactions conducted, including contracts, disbursements and financial commitments assumed by the corporation during the preceding fiscal year.
(g) Financial statements audited by an authorized public accounting firm, prepared according to the generally accepted accounting principles for government entities.
(h) A status and progress report of all its activities since the creation of the Corporation or since the date of the last annual report.
(i) A report detailing the total number of requests submitted, those that were evaluated, those that were granted financing or other type of financial incentive. Said report shall include the total amount of financing requested, the name of the individual or entity submitting the request, and the amount of financing granted, as well as the status of the income received as payments for reimbursement to the fund on account of the films produced.
History —Aug. 17, 2001, No. 121, § 5.01.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34B - Puerto Rico Motion Picture Arts, Sciences and Industry Development Corporation Act (§§ 592 — 599a) › Subchapter V - Specific Duties (§§ 596 — 596a) › § 596a - Accounting system

The Corporation, upon consultation with the Secretary of the Treasury, shall establish the accounting system required for the proper control and statistical registration of all income and expenses of, and administered or controlled by the corporation. Its accounts will be kept in such a manner as to allow for their segregation according to the various types of activities carried out.
The Comptroller of Puerto Rico or its representative shall examine all the accounts and books of the Corporation and shall inform the result of such inspection to the board of directors, the Governor and the Legislature.
History —Aug. 17, 2001, No. 121, § 5.02.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34B - Puerto Rico Motion Picture Arts, Sciences and Industry Development Corporation Act (§§ 592 — 599a) › Subchapter VI - Administrative Responsibilities (§§ 597 — 597b) › § 597 - Budget

The Corporation shall submit its budget annually to the Legislature of Puerto Rico, through the Office of Management and Budget, pursuant to the provisions of §§ 101 et seq. of this title, known as the “Office of Management and Budget Organic Act”.
All administrative funds of the Corporation shall be deposited in recognized banking entities located in the Commonwealth of Puerto Rico. The accounts shall be opened in the name of the Corporation, and the disbursements shall be made pursuant to the standards and regulations adopted to such effects by the board of directors.
All documents that involve or include obligations or disbursements chargeable to the funds appropriated to the corporation shall bear the signature of the executive director.
History —Aug. 17, 2001, No. 121, § 6.01.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34B - Puerto Rico Motion Picture Arts, Sciences and Industry Development Corporation Act (§§ 592 — 599a) › Subchapter VI - Administrative Responsibilities (§§ 597 — 597b) › § 597a - Liability for debts

The debts and other obligations incurred by the Corporation shall not be deemed debts or obligations of the Government of the Commonwealth of Puerto Rico nor of any of its agencies, public corporations, municipalities or other political subdivisions, and none of said bodies shall be in any way liable regarding the same, it being understood that said debts shall not be payable from any funds other than those of the Corporation.
History —Aug. 17, 2001, No. 121, § 6.02.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34B - Puerto Rico Motion Picture Arts, Sciences and Industry Development Corporation Act (§§ 592 — 599a) › Subchapter VI - Administrative Responsibilities (§§ 597 — 597b) › § 597b - Acquisition through property transfer

The Governor may, through executive order, transfer to the Corporation any real and personal property deemed to be necessary and convenient for the development of any of the Corporation’s activities pursuant to this chapter. Should the Commonwealth of Puerto Rico transfer any specific real property to the Corporation, said transfer shall be conducted by virtue of a certification issued by the Secretary of Transportation and Public Works, on behalf and in representation of the Commonwealth of Puerto Rico, which shall include a description of the real property and a note of its registration in the Property Registry. The Property Registrars shall take note of said certification for purposes of the title registration in favor of the transferee.
History —Aug. 17, 2001, No. 121, § 6.03.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34B - Puerto Rico Motion Picture Arts, Sciences and Industry Development Corporation Act (§§ 592 — 599a) › Subchapter VII - Special Fund (§§ 598 — 599a) › § 598 - Creation

A fund is hereby created in the books of the Department of the Treasury of Puerto Rico, to be known as the “Puerto Rico Motion Picture Arts, Sciences and Industry Development Corporation Fund”, attached to the corporation and without a specific economic year. The moneys covered into the fund shall be accounted separately from any other funds under the custody of the Secretary of the Treasury. Provided, That the income of said fund shall not be taken into account when determining the total annual income of the General Fund of the Government of the Commonwealth of Puerto Rico. Furthermore; Provided, That any unused funds by the fund in a given fiscal year shall not revert to the General Fund.
History —Aug. 17, 2001, No. 121, § 7.01.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34B - Puerto Rico Motion Picture Arts, Sciences and Industry Development Corporation Act (§§ 592 — 599a) › Subchapter VII - Special Fund (§§ 598 — 599a) › § 598a - Administration

The fund created by virtue of this chapter shall be administered by the executive director for the sole purpose of financing and promoting the production of motion pictures pursuant to the regulations adopted for such a purpose by the board of directors.
History —Aug. 17, 2001, No. 121, § 7.02.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34B - Puerto Rico Motion Picture Arts, Sciences and Industry Development Corporation Act (§§ 592 — 599a) › Subchapter VII - Special Fund (§§ 598 — 599a) › § 598b - Appropriations

The fund shall be nourished from the following financial appropriations:
(a) The annual appropriations made by the Legislature through joint resolutions or donations specifically for the fund for the development and financing of all activities related to the production of feature films.
(b) Donations from companies, groups, non profit institutions, partnerships and corporate entities from the private sector, from private citizens, as well as from federal, state and municipal government entities.
(c) The interest generated on account of the investments chargeable to the moneys of the fund.
(d) Fifty percent (50%) of the proceeds from taxes collected on public shows pursuant to the provisions of § 9084 of Title 13, known as “Puerto Rico Internal Revenue Code of 1994”.
(e) [Repealed. Act Aug. 28, 2002, No. 205, § 3, eff. Aug. 28, 2002.]
History —Aug. 17, 2001, No. 121, § 7.03; Aug. 28, 2002, No. 205, § 3.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34B - Puerto Rico Motion Picture Arts, Sciences and Industry Development Corporation Act (§§ 592 — 599a) › Subchapter VII - Special Fund (§§ 598 — 599a) › § 598c - Objectives

The fund shall finance, promote, develop and support all activities related to the production of feature length films pursuant to the conditions established through regulations by the board of directors.
Subject to the regulations adopted, the board of directors may grant other reimbursable benefits set aside to support said activities to any natural or juridical person, non-profit institution, corporations, groups or partnerships provided they are not used for private purposes, nor primarily for the purpose of political or sectarian propaganda.
The board of directors, through the regulations to be adopted, shall provide financial support for the purposes established in this chapter. The financing shall be granted for not more than the sum equal to eighty percent (80%) of the proportional part of the cost of production, or up to a maximum of one million two hundred thousand dollars ($1,200,000), whichever is less.
History —Aug. 17, 2001, No. 121, § 7.04.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34B - Puerto Rico Motion Picture Arts, Sciences and Industry Development Corporation Act (§§ 592 — 599a) › Subchapter VII - Special Fund (§§ 598 — 599a) › § 598d - Initial appropriations

The total amount of one million eight hundred thousand dollars ($1,800,000) is hereby appropriated to the Puerto Rico Motion Picture Arts, Sciences and Industry Development Corporation Fund, from unencumbered funds in the Treasury of the Government of Puerto Rico, which shall be disbursed at the rate of three hundred thousand dollars ($300,000) in fiscal year 2001-2002, five hundred thousand dollars ($500,000) in the following years, until fiscal year 2004-2005. Said contributions shall be deposited by the Secretary of the Treasury in the fund for the development of any activity related to the production of feature films for movie theaters or television, in order to ensure the continuing production of motion pictures.
History —Aug. 17, 2001, No. 121, § 7.05.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34B - Puerto Rico Motion Picture Arts, Sciences and Industry Development Corporation Act (§§ 592 — 599a) › Subchapter VII - Special Fund (§§ 598 — 599a) › § 598e - Donations

For purposes of this chapter, it shall be deemed that a contributor, meaning an individual, corporation or entity, has made a donation to the fund if said contribution is made on or before the last day established by law as the end of the taxable year.
Any donations made to the fund may be claimed entirely as a deduction from the individual gross income or from the gross income of corporations or partnerships, as applicable, and without being subject to the provisions of §§ 8523(aa)(2)(M) of Title 13, part of the Puerto Rico Internal Revenue Code of 1994. Every individual, corporation or partnership claiming this deduction must include with its income tax return a certification under the seal of the Corporation as evidence of the donation.
History —Aug. 17, 2001, No. 121, § 7.06.
2023 Laws of Puerto Rico › TITLE TWENTY-THREE - Public Planning and Development (§§ 1 — 11273) › PART II - Economic Development (§§ 231-241 — 695i) › Chapter 34B - Puerto Rico Motion Picture Arts, Sciences and Industry Development Corporation Act (§§ 592 — 599a) › Subchapter VII - Special Fund (§§ 598 — 599a) › § 599 - Penalties

(a) Any person who intentionally obtains or tries to obtain any benefit, ensuring or pretending to unduly influence in any manner the conduct of any official or employee who, in the exercise of his or her duties, is in charge of applying the provisions of this chapter, shall incur a felony and if convicted shall be punished with the penalty of imprisonment for a fixed term of three (3) years; should there be any aggravating circumstances, the fixed penalty established may be increased for up to a maximum of six (6) years; should there be any extenuating circumstances, the same may be decreased to a minimum of one (1) year. The court may impose the penalty of restitution, in addition to the established penalty of imprisonment.
(b) Any official or employee in charge of applying the provisions of this chapter who in order to obtain personal financial gain for his or her benefit or for that of a third party, intentionally or unlawfully uses any information or data obtained through the exercise of his or her duties or who carries out his or her duties, functions or tasks related to his or her position in an improper manner, shall incur a felony and if convicted, shall be punished with the penalty of imprisonment for a fixed term of three (3) years; should there be any aggravating circumstances, the fixed penalty established may be increased for up to a maximum of six (6) years; should there be any extenuating circumstances, the same may be decreased to a minimum of one (1) year. The court may impose the penalty of restitution, in addition to the established imprisonment penalty.
History —Aug. 17, 2001, No. 121, § 10.03.