P.R. Laws tit. 17, § 1474
Every owner who builds or rehabilitates housing units to be leased to the elderly and wishes to avail himself of the tax exemptions established in §§ 1472 and 1475 of this title shall:
(a) File a tax exemption application with the Secretary of Housing and the Secretary of the Treasury 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 in 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 the documents and information required by regulations. The Secretary of the Department of Housing shall act on such application within sixty (60) days from the filing date thereof. Every owner who applies for 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 a withholding agent, and shall likewise keep current on the payment of such taxes for the term that he enjoys the benefits granted herein, and
(b) keep full detailed accounting, by housing unit, of all the revenues derived from the rental of such units and the expenses incurred therefor.
History —Aug. 23, 1996, No. 165, § 5; Nov. 17, 2015, No. 187, renumbered as § 6 by § 57 and amended by § 59 on Nov. 17, 2015, No. 187.