P.R. Laws tit. 17, § 53a
There shall be exempt from the payment of Commonwealth excise taxes, construction materials and equipment introduced or acquired locally by all those persons or entities who may develop or construct housing units to be occupied by families eligible to receive interest or rent subsidy benefits provided by any program authorized by legislation of the Commonwealth or federal government. This exemption shall be granted by the Secretary of the Treasury, upon certification by the Urban Renewal and Housing Corporation that in relation to said projects there is a commitment awarded by the Urban Renewal and Housing Corporation or the Housing Bank and Finance Agency or by the U.S. Department of Housing and Urban Development or the Federal Farmer’s Home Administration, for the granting of rent or interest subsidies on behalf of families eligible in accordance with the terms and regulations of Commonwealth or federal programs. Provided, That the exemption shall only apply when said materials and equipment are incorporated in permanent form and only with respect to housing units sold or leased under the subsidy programs referred to, upon certification of the Urban Renewal and Housing Corporation with respect to the compliance of said conditions.
History —May 6, 1938, No. 126, p. 253, added as § 22-A on June 22, 1975, No. 67, p. 169.