P.R. Laws tit. 23, § 11008
(a) A person who applies for a grant and receives a written notice from the Secretary of Development with respect to the award or denial of the application for a grant may request reconsideration by written notice within the term of fifteen (15) days as of the date of the notice of award or denial of the grant.
(b) Upon a finding by the Secretary of Development, after consultation with the Secretary of the Treasury, that:
(1) The grantee has failed to comply with:
(A) Its obligations under Puerto Rico tax laws, the terms of the grant or this chapter, or
(B) the regulations promulgated thereunder and hereunder; or
(2) the benefits of this chapter and/or the grant have been obtained through misrepresentation, malfeasance or fraud, the Secretary of Development may impose fines against a grantee and/or modify or revoke the grant in question. The sums to be paid in the cases in which a fine is imposed in lieu of the revocation or modification of the benefits granted shall be determined by the Secretary of Development through regulations. If a grant is revoked pursuant to this section, the amount of the tax credits granted therein may be subject to the recapture provisions of subsection (d) of § 11006b of this title. Any grantee or applicant for a grant, adversely affected or injured by any action of the Secretary of Development imposing a fine, shall be entitled to request review of the action of the Secretary of Development within fifteen (15) days as of the date of notice of the imposition of the fine.
(c) The existence or mere appearance of a conflict of interest shall be notified immediately by the person who becomes aware thereof to the Secretary of Development. If the situation is not resolved or clarified within thirty (30) days, the persons involved in said conflict of interest may not benefit from the provisions of this chapter.
History —Mar. 4, 2011, No. 27, § 9.1; May 19, 2015, No. 69, § 5.