P.R. Laws tit. 13, § 10629
(a) Application.— Every petitioner shall file an application, under oath, in the central offices of the Authority with the documents and information that are required by the regulations that the Executive Director promulgates to such effects. The Executive Director shall remit a copy of the application for credit to the Secretary of the Treasury within thirty (30) days after it is filed.
(b) Requirements.— The Executive Director shall establish by regulations, the information and documents that must be included with the application for credit; Provided, however, That the following shall be included with the information and documents that the Executive Director must require with the application for credit:
(1) Location and description of the housing project, including, but not limited to the type and number of housing units to be rented to low and moderate income families and the number and description of the units to be used for other purposes;
(2) itemized list of the cost items of the new construction or substantial rehabilitation of all the housing project units, and
(3) nature of the eligible investment and financing method.
(c) Filing fees.— Every petitioner shall include a certified check or postal money order with the application for credit in the amount of five hundred (500) dollars drawn to the order of the Secretary of the Treasury, to cover the filing and handling costs of the application. The Executive Director may increase this amount from time to time, through regulations to such effects.
(d) Implementation fees.— The Executive Director may charge every owner who files a credit application under this chapter, an annual fee that consists of the amount the Executive Director determines is needed to cover the costs of implementing this chapter.
(e) Compliance fees.— The Executive Director may charge every owner to whom credit is granted under this chapter, an annual fee that shall consist of the sum that the Executive Director determines is needed to cover the cost of verification and validation of the compliance with the obligations imposed in this chapter, which in said case, shall not be greater than five hundred (500) dollars.
(f) Application period.— The Executive Director shall not accept applications for or award the incentives, credits, deductions, and other benefits described in § 10622 of this title after December 31 st, 2015.
History —Oct. 4, 2001, No. 140, § 10; Aug. 13, 2008, No. 261, § 7; Nov. 17, 2015, No. 187, § 68; Dec. 28, 2016, No. 208, § 19.