P.R. Laws tit. 3, § 1909
(a) It is resolved and declared that the purposes for which the Authority is created and shall exercise its powers are public purposes for the benefit of the people of Puerto Rico, and the exercise of the powers conferred under this chapter constitutes the performance of essential government functions.
The Authority shall be exempt from the payment of all taxes, permits, fees or licenses imposed by the Commonwealth or its municipalities on the properties of the Authority and those under the jurisdiction, authority, control, domain, possession or supervision of the Authority and on the income derived from any of the Authority’s undertakings or activities. The Authority shall pay excise taxes on articles subject to the provisions of Act Oct. 8, 1987, No. 5, known as the “Excise Tax Act of 1987 of the Commonwealth of Puerto Rico”.
(b) In order to facilitate the procurement of funds to enable it to carry out its corporate purposes, the bonds issued by the Authority under the provisions of this chapter, their transfer and the income therefrom, including any gains obtained from their sale, shall be and at all times remain exempt from the payment of all taxes, licenses or fees levied by the Commonwealth or any of its municipalities.
(c) The Authority or any benefited entity shall also be exempt from the payment of all kinds of charges, internal revenue stamps and receipts, fees or taxes required by law for the prosecution of judicial proceedings, the issuing of certifications in all offices and dependencies of the Commonwealth, and the execution of public documents and their registration in any public registry of the Commonwealth.
History —June 21, 1988, No. 44, § 10, renumbered as § 20 on June 24, 1998, No. 92, § 16.