P.R. Laws tit. 23, § 11024g
(a) An eligible business that wishes to enjoy the benefits of this subchapter shall file a sworn application with the Company that includes the following:
(1) A description of the activity in which the eligible business is engaged in, or intends to engage in.
(2) The address where operations are or shall be conducted.
(3) The name and address of the shareholders or owners of the Eligible Business, as well as of any affiliate entities operating in Puerto Rico.
(4) The number of employees working at the eligible business as of December 31, 2012.
(5) A description of the substantial expansion, if applicable.
(6) The incremental job projection.
(7) The benefits of this chapter for which the applicant eligible business qualifies.
(8) Evidence of its organization and of having its tax and employer obligations up to date.
(9) Any other reasonable information the Company may require.
(b) The Company shall have thirty (30) calendar days as of the receipt of the application to enter into an agreement and shall not require endorsement from any other agency to enter into such agreement. The Company shall process the all that pertains to the award of special job creation agreements through a Certificate of Compliance via the Interagency Validation Portal for the Granting of Incentives for the Economic Development of Puerto Rico. Moreover, the Company shall remit a copy of the agreement to the Department of the Treasury, the Municipal Revenue Collection Center, the Industrial Development Company, and the municipality where the eligible business operates to be included in the records of the different government entities.
(c) Rejection of applications.— The Executive Director may reject an application when he/she deems that some of the requirements provided in this chapter have not been met or that it does not serve the best economic and social interests of Puerto Rico after taking into consideration the nature of the physical facilities, the number of jobs to be created, the investment to be made, or other factors that, in his/her judgment, warrant such determination.
After being notified of the rejection, the petitioner shall have sixty (60) days to request the Executive Director to reconsider his/her application by stating any facts and arguments regarding the application that the petitioner may deem pertinent, including offering any consideration to the benefit of Puerto Rico that, in his/her judgment, may warrant a reconsideration.
History —Jan. 10, 2013, No. 1, § 4.8; renumbered as § 4.9 on July 5, 2013, No. 54, § 6; Nov. 17, 2015, No. 187, § 111.