P.R. Laws tit. 21, § 1041
(a) With the purpose of administering and overseeing the provisions of this chapter and compliance by the grantee with the clauses, conditions, and terms of the decree, a Selection Committee is created by virtue of this chapter.
(b) The Committee created under this section shall have the faculties, authorities, and powers conferred herein as detailed below:
(1) It shall prescribe, by regulation, the necessary requirements and criteria for an entity to be considered an “eligible business”.
(2) It shall prescribe, by regulation, the necessary requirements and criteria for a municipality to be considered an “eligible municipality”.
(3) It shall prescribe, by regulation, the criteria, rules, and protocol or procedure to be followed in processing all original applications and the renewal of decrees, and determine whether their issuance is appropriate.
(4) It shall issue decrees to eligible businesses that meet all the requirements and criteria prescribed by regulation and shall follow up on the grantee’s compliance with the same.
(5) It shall represent the Government of Puerto Rico in the procedure of consideration, approval, execution, follow-up, and administration of the decree to be issued. It shall be the representative of the Government of Puerto Rico in the act of executing or signing the document known as decree.
(6) When considering original or renewal applications for decrees, it shall ensure that there is full compliance with the provisions of this chapter.
(7) When issuing a decree, it shall ensure that the same complies with the provisions of this chapter and that its clauses protect the best interests of the Government of Puerto Rico.
(8) It shall have the authority to revoke a decree when it is established that the grantee failed to comply with this chapter or the terms of the decree.
(9) Furthermore, it shall have any other authority germane to the preceding and which is necessary to comply with its duties and obligations, without overstepping the authority conferred herein.
(c) The Selection Committee shall be presided by the Secretary of Economic Development and Commerce, and in his/her absence, by the Executive Director.
(d) All Selection Committee meetings shall be recorded in minutes numbered consecutively and their pages shall follow the same consecutive order.
(e) The quorum for Selection Committee meetings shall be constituted by five members present.
(f) The decisions of the Selection Committee shall be made by the simple majority of the members present.
(g) It shall request the collaboration of any public entity to achieve the objectives set forth in this chapter.
(h) It shall request the advice of other individuals from both the public and the private sector as deemed necessary or beneficial to serve the best interests of Puerto Rico.
(i) The actions of Committee members shall be governed at all times by §§ 1801 et seq. of Title 3, better known as the “Ethics in Government Act of Puerto Rico”.
History —Aug. 1, 2010, No. 118, § 5.