P.R. Laws tit. 29, § 726d
The Secretary of the Department of Labor and Human Resources, in consultation with the Secretary of the Treasury shall issue, not later than sixty (60) days counted as of the approval of this act, any circular letter or administrative determination as is necessary to establish the guidelines or procedures that shall govern the granting of incentives under this chapter and that shall apply with regard to §§ 681 et seq. of Title 29, §§ 701 et seq. of Title 29, and §§ 201 et seq. of Title 11. However, the Secretary of Labor and Human Resources shall establish such guidelines in a prompt and flexible manner, free from restrictions and technicalities that may impair the attainment of the objectives of this chapter.
Independently and separately from the provisions of the preceding paragraph, the Administrator of the State Insurance Fund Corporation, shall issue, not later than sixty (60) days as of the approval of this act, any circular letter or administrative determination as is necessary to establish the guidelines or procedures that shall govern the granting of incentives under this chapter and that shall apply with regard to §§ 1 et seq. of Title 11. However, the Administrator shall establish such guidelines in a prompt and flexible manner, free from restrictions and technicalities that may impair the attainment of the objectives of this chapter.
Once the circular letter or administrative determination is issued, the Department of Labor and/or the State Insurance Fund Corporation, as the case may be, shall initiate an orientation period to inform the citizenry of the benefits of this chapter. The duration of such orientation period shall be thirty (30) days as of the issue of the first circular letter or administrative determination promulgated by said agency and/or public corporation, as the case may be, regarding the provisions set forth herein.
Once the orientation period ends, the Inventive Plan shall take effect and the duration thereof shall be one hundred (100) calendar days.
It is hereby provided that the Incentive Plan under the Department of Labor and Human Resources for the laws specified herein shall be governed by the parameters established in this chapter and the regulations thereunder, and that it shall be independent and separate from the Incentive Plan under the State Insurance Fund Corporation, also established herein.
History —Jan. 3, 2014, No. 15, § 7.