P.R. Laws tit. 3, § 9251
(1) If the Board issues a notice to a supervised entity as a result of the entity’s noncompliance with the approved budget, the Fiscal and Economic Growth Plan, or the income estimates, the Board shall notify such fact to the Governor, the Director of the OMB, and the Legislative Assembly, and shall publish said notice on the webpage of the Board or through those communications means it determines. Said notice shall include the Board’s estimate of any projected deficit for the supervised entity for said fiscal year (“Projected Deficit”).
(2) At the request of the Board, the Director of the OMB together with the Secretary of the Treasury, and the chief executive of each supervised entity, as the case may be, shall send a report to the Board, the Governor, and the Legislative Assembly, stating in detail the measures that may be taken to address such notice, including reducing expenditures and increasing revenues in the amount necessary to make up any projected deficit. The chief executive of every supervised entity shall draft and submit said report as soon as possible but not later than fifteen (15) days after the date on which the Board requested it.
(3) The Board shall review and consider the report drafted by the chief executive of every supervised entity, the OMB, and the Department of the Treasury, in deference to the data, assumptions, and method used to reach the conclusions established therein and shall determine whether the measures that could be taken would suffice to make up any projected deficit. If the Board determines that the measures reported by the OMB would suffice to make up the projected deficit, the Board shall issue a report to the Governor endorsing the measures reported by the OMB. The Board shall have thirty (30) days following the quarterly report to determine whether the measures reported by the OMB do not suffice to make up the projected deficit and submit its recommendations. The chief executive shall implement the recommendations or any others endorsed by the Board as he/she deems necessary to make up the projected deficit. If said measures are not implemented within thirty (30) days following the report of the Board to the Governor endorsing the same, the Board shall notify such fact to the Governor, the Director of the OMB, and the Legislative Assembly and automatically activate across-the-board reductions in the operating expense budget appropriations of the supervised entities included in the Budget of the Commonwealth, in the amount necessary to make up the projected deficit, observing the provisions of § 104(c) of Title 23, when the resources available for a fiscal year are not sufficient to cover the appropriations approved for said year. The Governor (or the OMB, as delegated by the Governor) may redistribute across-the-board reductions in the operating expense budget appropriations observing the provisions of § 104(c) of Title 23, provided that the across-the-board reductions are sufficient to make up the projected deficit.
History —Dec. 8, 2015, No. 208, § 211.