P.R. Laws tit. 21, § 5828
In order to prevent the future recurrence of excessive remittances, which could result in further indebtedness in detriment of the liquidity of the Center and of the fiscal status of the municipalities, it is hereby established that the annual revenue estimates drafted by the Center and reported by the Center to the municipalities, shall not exceed five percent (5%) of the revenues reported in the last liquidation available. The Executive Director of the Center is hereby required to conduct quarterly reviews of estimated revenues and report the results of such reviews to the municipalities and the Board of Directors. The adjustments recommended by the Executive Director as a result of such periodic reviews shall not exceed three percent (3%) of the estimated revenues. Likewise, the adjustments recommended by the Executive Director as a result of analyses reflecting a reduction inasmuch as the five percent (5%) projection is not reached, shall be [reported] to the corresponding municipality, which shall be bound to perform the budget adjustment within the same corresponding fiscal period. The Board of Directors reserves the right to require the Executive Director of the Center to furnish those reports the Board deems are necessary to maintain an adequate control over a flow of remittances to municipalities that is consonant with the actual amounts collected by the Center in benefit of the municipalities.
History —Jan. 26, 2000, No. 42, § 8.