P.R. Laws tit. 21, § 5955
The incentive being granted under this chapter shall be subject to the following conditions and limitations:
(a) The taxpayer must have paid taxes on personal and real property corresponding to Fiscal Year 2009-2010 (current debt) and shall certify to the CRIM his/her commitment to pay the taxes on personal and real property corresponding to Fiscal Year 2010-2011 within the term established in §§ 5001 et seq. of this title.
(b) The taxpayer must have paid the new Special Tax on Real Property imposed under Section 3701 of Act No. 120 of October 31, 1994, as amended, on all his/her residential real properties and nonresidential real properties devoted to any activity for the production of income or to any trade or business, regardless of how they are denominated.
History —July 2, 2010, No. 71, § 5.