P.R. Laws tit. 17, § 897
Any owner who builds or rehabilitates affordable housing to be sold or leased to low- or moderate-income persons and middle class housing to be sold to middle class persons, and who wishes to avail himself of the tax exemptions established in §§ 894-896 of this title, as the case may be, shall file with the Secretary of the Department of Housing an application for exemption including the following information: the name of the business or company; the cadastre number of the property or properties connected to the business; the merchant registration number; the account connected to the business as required by the Puerto Rico Internal Revenue Code; the employer identification number; and the information required by §§ 1141 et seq. of Title 23, better known as the “Fiscal Information and Permit Control Act”, in addition to any other documents and information required by regulations. The Secretary of the Department of Housing shall act on said application within sixty (60) days as of the filing date thereof. Any owner who requests to avail himself of the benefits of this chapter shall be up to date in the payment of all taxes imposed by the laws of the Commonwealth of Puerto Rico, including those in which he acts as withholding agent, and shall likewise keep up to date in the payment of such taxes for the time during which he enjoys the benefits granted under this chapter.
History —June 26, 1987, No. 47, p. 159, § 7; Aug. 17, 2001, No. 118, § 5; Nov. 17, 2015, No. 187, § 38.