P.R. Laws tit. 14, § 3903
It is hereby provided that, during the first five (5) years as of the effective date of this act, forty percent (40%) of the sums collected on account of the fees established in this chapter, shall be covered into a special account of the Department of state, which shall be used to update and carry out improvements in the divisions of the Registry of Corporations and to defray part of the costs entailed by the digitization and automation of the Registry of Corporations and all other registries and records of the Department of State. Any remainder of such special account, as well as any remainder in any other special account or fund under the custody of the Department of State, may be used as determined by the Secretary of State. The remaining sixty percent (60%) shall be covered into the General Fund.
It is hereby provided that, once the five (5)-year term as of the effective date of this act has elapsed, one hundred percent (100%) of the sums collected on account of the fees established in this chapter, as well as the remaining funds in the aforementioned special account of the Department of State, shall be covered into the General Fund.
Provided, That, notwithstanding the provisions of this section, for Fiscal Year 2015-2016, the sum of two million dollars ($2,000,000) in account number 0230000-245-081-2010, or in any other created for the same purposes in the Department of the Treasury’s accounting system shall be transferred from this special account to the “Special Education Student’s Therapy and Service Fund”, created by Act No. 73-2014.
Notice This section has more than one version with varying effective dates. Second of three versions of this section.
History —Dec. 16, 2009, No. 164, § 17.03; June 12, 2010, No. 60, § 5; Feb. 2, 2015, No. 6, § 1, retroactive to Jan. 1, 2015; July 2, 2015, No. 105, § 22; July 22, 2016, No. 81, § 6.