P.R. Laws tit. 23, § 11007a
2019-02-20 00:00:00+00
The tax base of an investment made in a grantee shall be determined pursuant to the provisions of the Code, except that said base shall be reduced dollar for dollar, but never below zero, by the amount of the tax credits that the grantee is empowered to use or transfer, regardless of the time when it is claimed or whether the tax credit is transferred to a third party.
History —Mar. 4, 2011, No. 27, § 8.2.