P.R. Laws tit. 23, § 571c
When used as proper names, the following words, as used in this chapter, shall have the meaning indicated below:
(a) Code. — Shall mean §§ 8006 et seq. of Title 13, known as the “Puerto Rico Internal Revenue Code of 1994”.
(b) Commissioner. — Shall mean the Executive Director of the Puerto Rico Motion Picture Arts, Sciences and Industry Development Corporation.
(c) Accountant. — Shall mean a certified public accountant licensed to practice said profession in Puerto Rico, contracted by the Commissioner to carry out the functions assigned by this chapter.
(d) Motion Picture Corporation. — Means the Puerto Rico Motion Picture Arts, Sciences and Industry Development Corporation.
(e) Film entity. — Shall mean the juridical person or entity engaged in or responsible for administering, propitiating [sic], promoting, or developing a film project or infrastructure project.
(f) Specialized equipment. — Shall mean the equipment needed for the exclusive use of a film project or infrastructure project.
(g) Bond. — Shall mean the assurance of a bonding company to the effect that a film project or infrastructure project shall be completed within the proposed term and parameters. In the case of film projects, the bond shall mean a “completion bond”; in the case of infrastructure projects, the bond shall mean a “payment and performance bond”.
(h) License. — Shall mean the permit granted by the Commissioner to a film entity to carry out a film project or an infrastructure project.
(i) Budget. — Shall mean the itemization of the sums to be paid to the residents of Puerto Rico necessary for developing a film project or an infrastructure project that is submitted for the consideration of the Commissioner together with the application for a license.
(j) Television programs. — Means all types of television programs, including, but not limited to, soap operas, mini-series, talk shows, news programs, game shows and entertainment programs, sitcoms, children’s programs and variety shows.
(k) Film project. — Shall mean one (1) or more of the activities contemplated in § 573 of this title.
(l) Infrastructure project. — Shall mean one (1) or more of the activities contemplated in § 574 of this title.
(m) Resident of Puerto Rico. — Shall mean:
(1) In the case of a natural person, one who meets the requirements set forth in § 8697(a)(25) of Title 13.
(2) In the case of a juridical person, that which derives not less than eighty percent (80%) of its gross income from sources in Puerto Rico following the rules to determine sources of income contained in § 8523 of Title 13.
(n) Secretary or Secretary of the Treasury. — Shall mean the Secretary of the Treasury of Puerto Rico.
History —Dec. 24, 1999, No. 362, § 5; Aug. 17, 2001, No. 121, § 9.01; May 4, 2007, No. 41, § 2; July 15, 2008, No. 110, § 1.