P.R. Laws tit. 21, § 5186
It is hereby established as an indispensable condition for enjoying the benefits of §§ 5185–5191 of this title, that the taxpayer not owe any amount of taxes on personal property, on the date that according to the legislation in effect the taxable nature of the property is determined, or that if he/she should owe said taxes, the taxpayer should prepare and obtain the approval of a payment plan ensuring the liquidation of the debt in arrears. As an additional condition for granting the benefits of §§ 5185–5191 of this title, should the taxpayer obtain a payment plan pursuant to what is provided herein, he/she must be in compliance with the terms of the aforesaid by the first of January immediately prior to the fiscal year for which he/she requests the tax exemption.
History —Aug. 30, 1991, No. 83, § 5.36; Aug. 6, 1992, No. 45, § 8.