P.R. Laws tit. 17, § 1044
In affordable housing projects approved and subsidized totally or partially by the Government of the Commonwealth of Puerto Rico, their developers shall, after the approval of this act, reserve five percent (5%) of the total housing units, in order for these to be used as residences for the elderly or for persons with disabilities who qualify to acquire the same. If at the time of completing the housing projects these units have not been sold, the developer shall be authorized to sell them to the general market.
Provided, That once the housing unit has been acquired, the developer may opt to receive the benefits of an exemption from payment of income taxes and licenses and construction excise taxes additional to the regular sales price which result from expenses incurred for adapting the housing unit to accommodate the elderly or persons with disabilities, as provided through regulations.
History —Aug. 29, 2000, No. 213, § 3, eff. 90 days after Aug. 29, 2000.