P.R. Laws tit. 13, § 10020
The applicant for tax exemption or for exempted business, may use in the industrial unit or hotel established or to be established, physical facilities including but without limitation, land, buildings, machinery, equipment, inventory, supplies, trademarks, licenses, marketing outlets, having a value of ten thousand dollars ($10,000) or more, which have been previously used by the predecessor exempted business; provided, the Governor determines that the use of the physical facilities previously utilized will be in the best interest of the Commonwealth of Puerto Rico, in view of the nature of said physical facilities, the investment, the number of employees involved, the amount of the payroll, the location of the project or other factors that in his judgment warrant such use. This provision shall also apply in the case where an applicant for tax exemption or an exempted business acquires an industrial unit from a predecessor exempted business which is or was in operation. Provided, That said acquisition of physical facilities or industrial unit may be done through a direct purchase of said physical facilities or industrial unit, or through a purchase of the stocks or other proprietary interest of the corporation or partnership owner of same.
History —June 13, 1963, No. 57, p. 86, added as § 8A on June 5, 1973, No. 106, p. 446, § 2; June 30, 1975, No. 104, p. 316, § 2.