P.R. Laws tit. 3, § 1040d

2019-02-20 00:00:00+00
§ 1040d. Special fund

The Special Fund for the “Repository for Archives and Memorabilia of Ex-Governors and Ex-First Ladies of Puerto Rico” is hereby created to defray all construction and operational costs, as well as all actions needed to fully comply with the purposes of this chapter.

The Administrator of the Special Fund shall be the President of the Government Development Bank, who shall have control over the revenues and expenditures of the fund, subject to the guidelines established by the Secretary of the Treasury. The Administrator shall submit two (2) reports per year to the Legislature, which shall include a complete a detailed account of the expenses incurred in his actions and duties.

The resources of the Special Fund shall be administered in accordance with the regulations provided by the Administrator, and shall be deposited in the Government Development Bank.

The Special Fund shall be composed of:

(a) Allocations made by the Legislature.

(b) Contributions or transfers of any kind made to the “Repository for Archives and Memorabilia of Ex-Governors and Ex-First Ladies of Puerto Rico” or to the administrator to comply with the provisions of this chapter.

(c) The annual apportionment of one percent (1%) from the [income] collected on tobacco tax as established in § 9009 of Title 13, until accumulating and maintaining the maximum amount of six million dollars ($6,000,000).

This apportionment shall take effect on Fiscal Year 2001-2002.

History —Sept. 1, 2000, No. 290, § 5.