P.R. Laws tit. 23, § 5036
The Corporation or any of its subsidiaries, shall be exempted from all types of taxes, duties, imposts, excise taxes or fees, including those levied or to be levied on permits, by the Commonwealth of Puerto Rico or any political subdivision thereof, including all its operations, personal or real property, and its capital, income and surplus.
The Corporation and its subsidiaries shall also be exempt from the payment of all types of fees or duties required by law for instituting legal proceedings, the issuance of certifications in the offices and entities of the Government of the Commonwealth of Puerto Rico and its political subdivisions, and the execution of public documents and the recording thereof in any public register in Puerto Rico. This exemption includes the payment of duties required by §§ 9011 et seq. of this title, known as the “Puerto Rico Permit Process Reform Act”, and the regulations adopted thereunder.
Furthermore, juridical or natural persons of the private sector whose main activity is the development, management, or operation of projects that further the goals established in the Land Use Plan and the Martín Peña Canal Special Planning District Integrated Development Plan, as specified by the Corporation, shall be exempt from all types of taxes, duties, fees, excise taxes, or charges, including those on permits, imposed or to be imposed by the Commonwealth of Puerto Rico or any political subdivision thereof, on all its operations, personal or real property, and its capital, revenues, and surplus, as provided in the dispensation executed to such effects by the Secretary of the Treasury of the Commonwealth of Puerto Rico. It is clearly established herein that such projects shall be exclusively of a social nature to promote the rehabilitation of the District. The Board of Directors of the Corporation shall issue an official certification identifying the project as eligible for exemption by virtue of this provision. The exemption provided for in this paragraph shall be limited to the property, capital, revenues, or surplus generated by or used in the project identified in the Corporation’s certification. Juridical or natural persons who avail themselves of the exemption provided herein may only claim the portion of the exemption corresponding to their participation in the project.
Public documents executed by individuals regarding the acquisition of real property and relocation of occupants carried out by the Corporation or other public agencies in the District are hereby exempted from notary and registration fees.
History —Sept. 24, 2004, No. 489, § 7; Aug. 14, 2013, No. 104, § 7.