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https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-ii/chapter-253/5834/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART II (§§ 5801 — 5851-5854)›Chapter 253 - Municipal Revenues Collection Center (§§ 5801 — 5851-5854)›§ 5834 - Approval of financing | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART II (§§ 5801 — 5851-5854) › Chapter 253 - Municipal Revenues Collection Center (§§ 5801 — 5851-5854) › § 5834 - Approval of financing | During the first twenty (20) work days following the date of approval of the loan by the MRCC Governing Board, the MRCC Executive Director shall notify the mayor of each municipality the proportion of the loan of the corresponding proportion to be paid, pursuant to the provisions of § 5833 of this title. The mayor and ... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-ii/chapter-253/5835/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART II (§§ 5801 — 5851-5854)›Chapter 253 - Municipal Revenues Collection Center (§§ 5801 — 5851-5854)›§ 5835 - Loan contract with Bank | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART II (§§ 5801 — 5851-5854) › Chapter 253 - Municipal Revenues Collection Center (§§ 5801 — 5851-5854) › § 5835 - Loan contract with Bank | The MRCC Governing Board is hereby authorized to negotiate and formalize the loan contract with the Bank authorized by §§ 5832–5841 of this title on those grounds relative to §§ 5921 et seq. of this title, which authorized the sale by the MRCC of tax debts and §§ 5821–5831 of this title, under the following terms and c... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-ii/chapter-253/5836/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART II (§§ 5801 — 5851-5854)›Chapter 253 - Municipal Revenues Collection Center (§§ 5801 — 5851-5854)›§ 5836 - Loan agreement | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART II (§§ 5801 — 5851-5854) › Chapter 253 - Municipal Revenues Collection Center (§§ 5801 — 5851-5854) › § 5836 - Loan agreement | The Board of Directors of the Municipal Revenue Collection Center (CRIM, in Spanish) is hereby empowered to negotiate a loan agreement through its Executive Director with an authorized financing entity under the following terms and conditions:
(a) The principal of the loan shall not exceed the sum of seventy-two millio... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-ii/chapter-253/5837/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART II (§§ 5801 — 5851-5854)›Chapter 253 - Municipal Revenues Collection Center (§§ 5801 — 5851-5854)›§ 5837 - Legal obligation | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART II (§§ 5801 — 5851-5854) › Chapter 253 - Municipal Revenues Collection Center (§§ 5801 — 5851-5854) › § 5837 - Legal obligation | Any guarantee of payment contracted by CRIM pursuant to what is established in §§ 5832–5836 of this title, shall constitute a legal obligation of said entity with the Bank and shall be secured with the flow of payments agreed upon with the corresponding municipalities. It shall so be stated in the financing documents s... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-ii/chapter-253/5838/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART II (§§ 5801 — 5851-5854)›Chapter 253 - Municipal Revenues Collection Center (§§ 5801 — 5851-5854)›§ 5838 - Payment for loan | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART II (§§ 5801 — 5851-5854) › Chapter 253 - Municipal Revenues Collection Center (§§ 5801 — 5851-5854) › § 5838 - Payment for loan | The payment of the two loans to be granted under §§ 5832–5841 of this title shall not be taken into account to calculate the maximum of the five-percent (5%) debt service established in § 6015(c) of this title, part of the “Puerto Rico Municipal Financing Act”. In the event that any municipality that avails itself of t... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-ii/chapter-253/5839/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART II (§§ 5801 — 5851-5854)›Chapter 253 - Municipal Revenues Collection Center (§§ 5801 — 5851-5854)›§ 5839 - Deduction from monthly p... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART II (§§ 5801 — 5851-5854) › Chapter 253 - Municipal Revenues Collection Center (§§ 5801 — 5851-5854) › § 5839 - Deduction from monthly payments | The Executive Director of CRIM is hereby empowered to deduct from the monthly payments to the corresponding municipalities, the amount equal to the payment of principal and interest of the debts authorized by §§ 5832–5841 of this title and remit them to the Bank or financing entity, as the case may be. The Director is ... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-ii/chapter-253/5840/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART II (§§ 5801 — 5851-5854)›Chapter 253 - Municipal Revenues Collection Center (§§ 5801 — 5851-5854)›§ 5840 - Faculties of Bank regard... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART II (§§ 5801 — 5851-5854) › Chapter 253 - Municipal Revenues Collection Center (§§ 5801 — 5851-5854) › § 5840 - Faculties of Bank regarding loan | The Government Development Bank is hereby authorized to negotiate, sell, post as guarantee or pledge the loan authorized by §§ 5832–5841 of this title.
History —Oct. 11, 2001, No. 146, § 9. |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-ii/chapter-253/5841/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART II (§§ 5801 — 5851-5854)›Chapter 253 - Municipal Revenues Collection Center (§§ 5801 — 5851-5854)›§ 5841 - Limitation of powers | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART II (§§ 5801 — 5851-5854) › Chapter 253 - Municipal Revenues Collection Center (§§ 5801 — 5851-5854) › § 5841 - Limitation of powers | None of the provisions of §§ 5832–5841 of this title shall limit the powers, obligations and prerogatives of the Government Development Bank for Puerto Rico as fiscal agent, pursuant to §§ 581 et seq. of Title 7.
History —Oct. 11, 2001, No. 146, added as § 10 on Nov. 16, 2001, No. 159, § 5. |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-255/5901/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 255 - Payment of Debts to the Municipalities (§§ 5901 — 5905)›§ 5901 - Authorization to issue notes an... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 255 - Payment of Debts to the Municipalities (§§ 5901 — 5905) › § 5901 - Authorization to issue notes and other obligations | The Department of the Treasury is hereby authorized to obtain financing from the Government Development Bank or other financing institutions, for an amount which shall not exceed two hundred fifteen million dollars ($215,000,000). The financing authorized by this chapter shall include the payment of interest at an annu... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-255/5902/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 255 - Payment of Debts to the Municipalities (§§ 5901 — 5905)›§ 5902 - Manner of payment | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 255 - Payment of Debts to the Municipalities (§§ 5901 — 5905) › § 5902 - Manner of payment | The Office of Management and Budget shall include in the Budget of the Government of Puerto Rico, in each of the budgets of the Government of Puerto Rico for the next twenty (20) fiscal years, starting with Fiscal Year 1995-96, an amount equal to the principal and interest that the Government of Puerto Rico shall pay t... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-255/5903/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 255 - Payment of Debts to the Municipalities (§§ 5901 — 5905)›§ 5903 - Retention of statutory debts | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 255 - Payment of Debts to the Municipalities (§§ 5901 — 5905) › § 5903 - Retention of statutory debts | The Secretary [of the Treasury] shall deduct from the total sum of the financing authorized, those amounts on account of statutory debts the municipal governments owe the Government of Puerto Rico, such as those had with the Retirement Systems Administration, Social Security, Chauffer’s Insurance, Employee’s Associatio... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-255/5904/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 255 - Payment of Debts to the Municipalities (§§ 5901 — 5905)›§ 5904 - Determination of debt | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 255 - Payment of Debts to the Municipalities (§§ 5901 — 5905) › § 5904 - Determination of debt | The amount payable to the municipalities of Puerto Rico, shall be the product of the audit and reports submitted by the firm of certified public accountants contracted for these purposes and included in the reports to June 30, 1993, and a determined additional amount to cover the amounts not appropriated in previous ye... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-255/5905/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 255 - Payment of Debts to the Municipalities (§§ 5901 — 5905)›§ 5905 - Contention of the debt | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 255 - Payment of Debts to the Municipalities (§§ 5901 — 5905) › § 5905 - Contention of the debt | Any municipality not in agreement with the amount of the debt determined or defined in § 5903 of this title shall follow the procedures established in § 5801 note of this title.
History —Aug. 11, 1995, No. 163, § 5, retroactive to July 1, 1995. |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-256/5921/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944)›§ 5921 - Definitions | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944) › § 5921 - Definitions | (a) Fiscal year.— Shall mean the fiscal year beginning on July 1 of a certain year and ending June 30 of the following year.
(b) Government Bank.— Shall mean the Government Development Bank for Puerto Rico, created by §§ 551 et seq. of Title 7, which has the obligation to act as fiscal agent of the municipalities and t... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-256/5922/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944)›§ 5922 - Elimination of tax debts in default cor... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944) › § 5922 - Elimination of tax debts in default corresponding to fiscal years prior to 1974-75 | The Center shall eliminate from the taxpayers’ files and be barred from collecting those tax debts in default corresponding to fiscal years prior to 1974-75.
History —June 26, 1997, No. 21, § 4. |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-256/5923/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944)›§ 5923 - Authorization for the sale of transfera... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944) › § 5923 - Authorization for the sale of transferable tax debts in default and fiscal liens | (a) The Center is hereby authorized, acting as representative of the municipalities or of the Government of Puerto Rico, to sell to any eligible person or public entity, some or all transferable tax debts in default. Through this chapter, the municipalities and the Government of Puerto Rico delegate on the Center their... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-256/5924/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944)›§ 5924 - Continuation of the fiscal lien | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944) › § 5924 - Continuation of the fiscal lien | (a) Notwithstanding, any legal provisions to the contrary, the fiscal lien existing on the date of approval of this act corresponding to taxable years 1991-1992 and 1992-1993, shall be fixed permanently until the total tax debt on real property corresponding to said years is paid up.
(b) Besides the provisions of subse... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-256/5925/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944)›§ 5925 - Persons eligible to purchase | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944) › § 5925 - Persons eligible to purchase | (a) The Government Bank shall establish by regulations, the eligibility requirements which must be met by any person who is interested in purchasing transferable delinquent tax debts, including the following conditions:
(1) No person who owes any taxes to the Government of Puerto Rico, the municipalities or its agencie... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-256/5926/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944)›§ 5926 - Notices prior to the sale | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944) › § 5926 - Notices prior to the sale | (a) No transferable delinquent tax debt shall be sold unless the Center has given notice of its intention to sell it in a newspaper of general circulation in Puerto Rico, at least sixty (60) days prior to the date set for the sale, and, if the Center choses to accept private bids or negotiation offers, at least fifteen... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-256/5927/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944)›§ 5927 - Cancellation or postponement of the sal... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944) › § 5927 - Cancellation or postponement of the sale | The Center may cancel or postpone any proposed sale prior to the date of the sale. The Center shall be bound to comply with the notice requirements imposed by § 5926 of this title before resuming the sale, unless the date of sale has been postponed for a term not greater than ten (10) days, in which case it shall not b... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-256/5928/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944)›§ 5928 - Proceeding with the sale | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944) › § 5928 - Proceeding with the sale | The sale of the transferable tax debts in default may proceed or be resumed from day to day at the discretion of the Center, unless said sale has been canceled or postponed pursuant to § 5927 of this title, without the need to issue new notices until all transferable tax debts in default subject to the notices mentione... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-256/5929/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944)›§ 5929 - Certificate of sale | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944) › § 5929 - Certificate of sale | (a) The Center shall deliver a sales certificate for each property or debtor taxpayer, as the case may be, to the purchaser of the transferable delinquent tax debts, upon receipt of the payment for the latter. Furthermore, at the request of a purchaser of transferable delinquent tax debts, the Center may issue and remi... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-256/5930/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944)›§ 5930 - Notice following the sale | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944) › § 5930 - Notice following the sale | Within the term of thirty (30) days from the date of the sale of the credit for the transferred tax debt, the Center shall notify said sale to the debtor taxpayers and the owners of the properties upon whom the credits for transferred tax debts fall, should they be other persons, as they are identified in the files of ... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-256/5931/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944)›§ 5931 - Deposit of the sales price | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944) › § 5931 - Deposit of the sales price | (a) The receipt of the sales price of transferable tax debts in default shall constitute the collection by the Center of the transferable tax debts in default and it shall be reflected in its registers or records as totally paid off.
(b) The Center shall deposit the amounts received for the credits for transferred tax ... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-256/5932/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944)›§ 5932 - Substitution or credits for transferred... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944) › § 5932 - Substitution or credits for transferred tax debts | (a) The Center, at its entire discretion, shall substitute:
(1) Any credit for the transferred tax debt for one or more transferable delinquent tax debts of equal value, or
(2) reimburse to the purchaser an amount equal to the transferred tax debt credit plus the interest accrued on such transferred tax debt credit pur... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-256/5933/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944)›§ 5933 - Rights of the purchasers | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944) › § 5933 - Rights of the purchasers | (a) The purchaser of credits for transferred tax debts shall have the same rights and obligations that the Center had in relation to them, unless otherwise provided in this chapter.
(b) The purchaser may initiate the procedure to compel compliance with the demand for payment of the credit for the transferred tax debt e... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-256/5934/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944)›§ 5934 - Agreements for joint collection procedu... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944) › § 5934 - Agreements for joint collection procedures | In case credits for transferred tax debts and other property tax debts in default exist, the Center may enter into any agreement with the owner of the credits for transferred tax debts, for the joint collection of the total tax debt by means of a single procedure as established in §§ 5101–5120 of this title.
History —J... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-256/5935/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944)›§ 5935 - Legal proceedings for the collection of... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944) › § 5935 - Legal proceedings for the collection of credits for transferred tax debts | (a) If the credits for transferred tax debts are not paid within the period established in § 5933(b) of this title, the owner of the certificate of sale shall proceed to collect the same through the attachment and sale at public auction of the property of the indebted taxpayer or the owner of the property subject to th... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-256/5936/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944)›§ 5936 - Notice of attachment | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944) › § 5936 - Notice of attachment | (a) Personal property.—
(1) After the term provided by subsection (b) of § 5933 of this title, the owner of the certificate of sale shall deliver to the taxpayer or any member of his or her family in charge of the property a copy of the notice of attachment. When the owner of the certificate of sale is unable to locate... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-256/5937/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944)›§ 5937 - Auction notice | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944) › § 5937 - Auction notice | (a) The auction notice shall be published at least two (2) times once a week, in one (1) newspaper of general circulation in Puerto Rico and edicts shall be posted for two (2) weeks visibly displayed in three public places of the municipality where said sale is held, such as town hall, the courthouse and the police sta... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-256/5938/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944)›§ 5938 - Sale of personal property at public auc... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944) › § 5938 - Sale of personal property at public auction | (a) The sale of personal property for the payment of the credit for transferred tax debt shall be conducted at public auction and, if the property items can be severed from one another or divided, the amount or portion of said attached personal property items which is strictly necessary to cover the payment of the cred... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-256/5939/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944)›§ 5939 - Sale of real property at public auction | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944) › § 5939 - Sale of real property at public auction | (a) The attached real property shall be sold at public auction for a minimum rate which shall be equal to the value of the equity of the owner of the property of the attached goods or to the value of the credit for the transferred tax debt, plus interest, surcharges and other fees, whichever is less. The term “value of... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-256/5940/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944)›§ 5940 - Notice of the result of the sale at pub... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944) › § 5940 - Notice of the result of the sale at public auction | (a) Within thirty (30) days from the date of the public auction, the owner of the certificate of sale shall notify the owner of the property sold and the debtor taxpayer, should it be another person, by certified mail, return receipt requested, the results of the auction, including the name and address of the purchaser... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-256/5941/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944)›§ 5941 - Extension or postponement of the sale a... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944) › § 5941 - Extension or postponement of the sale at public auction | The owner of the certificate of sale or his/her representative shall continue the sale from day to day, if it is deemed necessary to do so, and for just cause, may extend said sale for a period not to exceed sixty (60) days, which must be notified pursuant to § 5937 of this title.
History —June 26, 1997, No. 21, § 23. |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-256/5942/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944)›§ 5942 - Prohibited sales | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944) › § 5942 - Prohibited sales | Should the owner of the certificate of sale sells or helps to sell any real or personal property, with knowledge of the fact that said property is exempted from attachment, or that the credits for the transferred tax debts for which said property has been sold have been paid up, or if in any other way he/she has restra... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-256/5943/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944)›§ 5943 - Certificate of purchase; registration; ... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944) › § 5943 - Certificate of purchase; registration; title | (a) Within the thirty (30) days following the date of the public auction of real property, the owner of the certificate of sale shall deliver to the purchaser a certificate of purchase. Said certificate of purchase shall contain the following information: the name, social security number and address of the purchaser; t... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-256/5944/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944)›§ 5944 - Right of redemption; procedure and term | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 256 - Sale of Transferable Tax Debts (§§ 5921 — 5944) › § 5944 - Right of redemption; procedure and term | (a) The person who owned the real property sold at auction, his/her heirs or assigns, can redeem the same within the term of thirty (30) days from the date of receipt of the notice of the results of the auction by paying the purchaser, his/her heirs or assigns, the total amount of the price paid, plus the cost of impro... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-257/5951/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 257 - Incentives Plan for the Payment of Property Tax Debt (§§ 5951 — 5963)›§ 5951 - Definitions | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 257 - Incentives Plan for the Payment of Property Tax Debt (§§ 5951 — 5963) › § 5951 - Definitions | For purposes of this chapter, the following terms shall have the meaning provided below:
(1) Bank.— Means the Government Development Bank for Puerto Rico, created under §§ 551 et seq. of Title 7.
(2) Interagency Committee.— Means the committee established under § 5051a of this title.
(3) Taxpayer or person.— Shall have... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-257/5952/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 257 - Incentives Plan for the Payment of Property Tax Debt (§§ 5951 — 5963)›§ 5952 - Granting of incen... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 257 - Incentives Plan for the Payment of Property Tax Debt (§§ 5951 — 5963) › § 5952 - Granting of incentive on personal property | Any taxpayer, or any person acting on his/her behalf, who pays any outstanding personal property taxes to the CRIM within the term provided in this chapter shall be entitled to a discount on the total amount owed as established in § 5953 of this title.
History —July 2, 2010, No. 71, § 2. |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-257/5953/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 257 - Incentives Plan for the Payment of Property Tax Debt (§§ 5951 — 5963)›§ 5953 - Amount of discoun... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 257 - Incentives Plan for the Payment of Property Tax Debt (§§ 5951 — 5963) › § 5953 - Amount of discount on personal property taxes | The amount to be discounted from the personal property taxes owed shall be one hundred percent (100%) of interest, surcharges, and penalties.
History —July 2, 2010, No. 71, § 3. |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-257/5954/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 257 - Incentives Plan for the Payment of Property Tax Debt (§§ 5951 — 5963)›§ 5954 - Term for taxpayer... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 257 - Incentives Plan for the Payment of Property Tax Debt (§§ 5951 — 5963) › § 5954 - Term for taxpayers to avail themselves of the incentive on pers... | The incentive on the payment of the tax debt granted under § 5952 of this title shall be in effect for a term of one hundred twenty (120) days from the effective date of the administrative order issued by the CRIM to implement this chapter.
History —July 2, 2010, No. 71, § 4. |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-257/5955/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 257 - Incentives Plan for the Payment of Property Tax Debt (§§ 5951 — 5963)›§ 5955 - Conditions and li... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 257 - Incentives Plan for the Payment of Property Tax Debt (§§ 5951 — 5963) › § 5955 - Conditions and limitations | The incentive being granted under this chapter shall be subject to the following conditions and limitations:
(a) The taxpayer must have paid taxes on personal and real property corresponding to Fiscal Year 2009-2010 (current debt) and shall certify to the CRIM his/her commitment to pay the taxes on personal and real pr... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-257/5956/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 257 - Incentives Plan for the Payment of Property Tax Debt (§§ 5951 — 5963)›§ 5956 - Elimination of in... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 257 - Incentives Plan for the Payment of Property Tax Debt (§§ 5951 — 5963) › § 5956 - Elimination of interest, surcharges, and penalties on real prop... | Any taxpayer who, within a term of one hundred twenty (120) days from the effective date of the administrative order issued by the CRIM to implement this chapter, pays outstanding taxes on one or more real properties to the CRIM is hereby relieved from the payment of all interest, surcharges, and penalties accrued on t... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-257/5957/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 257 - Incentives Plan for the Payment of Property Tax Debt (§§ 5951 — 5963)›§ 5957 - General provision... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 257 - Incentives Plan for the Payment of Property Tax Debt (§§ 5951 — 5963) › § 5957 - General provisions | Any taxpayer, or any person acting on his/her behalf, who makes efforts to pay during the effective term of this act and is unable to avail him/herself of the benefits provided in § 5952 or § 5956 of this title due to the CRIM’s inability to supply a tax statement, according to the books of the CRIM, may avail him/hers... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-257/5958/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 257 - Incentives Plan for the Payment of Property Tax Debt (§§ 5951 — 5963)›§ 5958 - Exclusions | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 257 - Incentives Plan for the Payment of Property Tax Debt (§§ 5951 — 5963) › § 5958 - Exclusions | Taxpayers against whom a criminal proceeding has been instituted or is pending for a tax crime, whose noncompliance entails the intent to defraud, or who have been convicted of tax fraud, may not avail themselves of the tax reliefs granted by this chapter with respect to real and personal property.
History —July 2, 201... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-257/5959/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 257 - Incentives Plan for the Payment of Property Tax Debt (§§ 5951 — 5963)›§ 5959 - Obligations of th... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 257 - Incentives Plan for the Payment of Property Tax Debt (§§ 5951 — 5963) › § 5959 - Obligations of the Executive Director | On or within (60) days after payment of a debt eligible under this chapter, the Executive Director of the CRIM shall have the obligation to issue a no-debt certificate pursuant to the provisions set forth herein, in addition to any payment receipts stamped at the CRIM when the taxpayer makes his/her payment under the p... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-257/5960/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 257 - Incentives Plan for the Payment of Property Tax Debt (§§ 5951 — 5963)›§ 5960 - Authorization | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 257 - Incentives Plan for the Payment of Property Tax Debt (§§ 5951 — 5963) › § 5960 - Authorization | The Executive Director of the CRIM or his/her authorized representatives are hereby authorized to contract any person or entity to assist in the processes necessary to implement the provisions of this chapter; Provided, That the implementation of this chapter shall not result in the dismissal of the CRIM employees.
His... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-257/5961/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 257 - Incentives Plan for the Payment of Property Tax Debt (§§ 5951 — 5963)›§ 5961 - Administration | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 257 - Incentives Plan for the Payment of Property Tax Debt (§§ 5951 — 5963) › § 5961 - Administration | Not later than thirty (30) days from the effective date of this act, the CRIM shall issue any administrative order for the prompt implementation of this chapter, strictly subject to the parameters and requirements established herein. The CRIM shall distribute the revenues obtained by virtue of this chapter not later th... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-257/5962/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 257 - Incentives Plan for the Payment of Property Tax Debt (§§ 5951 — 5963)›§ 5962 - Distribution of r... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 257 - Incentives Plan for the Payment of Property Tax Debt (§§ 5951 — 5963) › § 5962 - Distribution of revenues | The proceeds from taxes collected by virtue of the incentives granted under §§ 5951–5961 of this title shall be deposited in a special CRIM account in the Bank. Thirty percent (30%) of the total assessed for the basic tax shall be set aside to be transferred to the General Fund of the Commonwealth of Puerto Rico. The r... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-257/5963/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 257 - Incentives Plan for the Payment of Property Tax Debt (§§ 5951 — 5963)›§ 5963 - Report | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 257 - Incentives Plan for the Payment of Property Tax Debt (§§ 5951 — 5963) › § 5963 - Report | The CRIM shall be responsible for submitting a detailed report to the Legislative Assembly on revenues collected, their distribution, and the effectiveness of the incentives granted under this chapter. Said report shall be submitted within a term not to exceed six (6) months after the expiration date of the incentives ... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6001/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6001 - Public policy | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6001 - Public policy | The public policy of our Government and of this Legislature is to expedite the administrative and operational processes by reducing the unnecessary duplication of structures, regulations, norms and procedures, as well as those laws which hinder the efforts of the public administrations that pursue efficiency. In order ... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6002/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6002 - Definitions | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6002 - Definitions | For the purposes of this chapter, the following words and phrases shall have the meaning stated below, except when it is otherwise construed from the text:
(a) Mayor.— Shall have the same meaning as the term “mayor” is defined in §§ 4001 et seq. of this title, or in any subsequent municipal enabling act.
(b) Legislatur... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6002a/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6002a - Contracting of loans—Authorization | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6002a - Contracting of loans—Authorization | Municipalities are authorized to borrow money through obligations evidenced by bonds, notes or any other credit instruments, pursuant to the provisions of this chapter. Municipalities may incur these obligations with the Government Bank or other public or private banking or financing institutions.
History —July 3, 1996... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6003/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6003 - Purposes of the obligations | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6003 - Purposes of the obligations | Municipalities are hereby authorized to incur obligations evidenced by bonds, notes, or other instruments, for the purposes provided below:
(a) Municipal general obligation bonds or notes to provide funds to pay for the cost of acquiring any equipment, developing or constructing any public work, or any other project th... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6004/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6004 - Obligations evidenced by notes in adva... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6004 - Obligations evidenced by notes in advance of bonds | Every municipality is authorized to incur obligations evidenced by notes in advance of bonds. The notes shall be designated as “notes in advance of bonds” and shall contain a statement of the fact that they are in advance of a bond issue, and a general description of the purposes that the notes are intended to finance.... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6005/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6005 - Obligations evidenced by notes | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6005 - Obligations evidenced by notes | Each municipality is authorized to incur obligations evidenced by notes. The notes, including any renewal note, may mature on a term not greater than eight (8) years from the date of the original note. In cases of notes in advance of taxes and revenues, the notes, including any renewal note thereof, shall mature not la... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6006/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6006 - Ordinance authorizing the issue of obl... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6006 - Ordinance authorizing the issue of obligations evidenced by bonds | (a) The obligations evidenced by municipal general obligation bonds, special obligation bonds, revenue bonds, and refinancing bonds, shall be authorized through an ordinance approved by the Legislature with the affirmative vote of at least two thirds (⅔) of its members, and the approval of the mayor.
(b) The ordinance ... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6007/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6007 - Special obligations evidenced by other... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6007 - Special obligations evidenced by other credit instruments | Municipalities may borrow money through special obligations evidenced by credit instruments other than bonds, notes or notes in advance of bonds. The contracting of such instruments shall be governed by the provisions of this chapter which apply to the issue of notes in cases of obligations for terms not greater than e... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6008/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6008 - Provisions of ordinances or resolution... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6008 - Provisions of ordinances or resolutions | (a) Every ordinance or resolution to authorize any obligation evidenced by bonds, notes, or any other instruments, as the case may be, shall contain the following provisions:
(1) In brief and general terms, the purpose or purposes of the bonds, notes or any other instruments;
(2) the maximum amount of money to be borro... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6008a/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6008a - Approval by the Government Bank | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6008a - Approval by the Government Bank | (a) Every obligation to be incurred under the provisions of this chapter shall have the prior approval of the Government Bank.
(b) The Government Bank shall evaluate the proposed obligation to determine if it meets the requirements of this chapter, and those requirements that the Government Bank establishes through reg... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6008b/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6008b - Approval of ordinances and resolution... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6008b - Approval of ordinances and resolutions | Any provision of any law, regulation, ordinance or resolution to the contrary, notwithstanding, when considering the approval of any ordinance or resolution authorizing the municipality to incur an obligation under this chapter or any supplementary ordinance or resolution related to said obligation, it shall only be ne... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6009/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6009 - Notice of approval of ordinance or res... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6009 - Notice of approval of ordinance or resolution | (a) Except in case of an emergency, as provided in § 6027 of this title, after the Legislature and the mayor have approved an ordinance or resolution authorizing the municipality to incur an obligation under this chapter, the Secretary of the municipality shall publish a notice of approval of the ordinance or resolutio... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6010/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6010 - Validity of ordinance or resolution | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6010 - Validity of ordinance or resolution | (a) No action or recourse based on the nullity of an ordinance or resolution that authorizes an obligation approved by the Government Bank; nor the validity of an ordinance or resolution or of any of its provisions, including the provisions for the payment of bonds, notes or instruments; nor the validity of the bonds, ... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6011/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6011 - Terms of bonds, notes and any other in... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6011 - Terms of bonds, notes and any other instruments | (a) The bonds and notes authorized under the provisions of this chapter shall be of such nature, whether they are registered, with coupons, or electronic entry registry; shall be dated; shall accrue interest at such rate or rates or shall provide the formula or formulas to determine such rate or rates of interest; shal... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6012/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6012 - Signature of the bonds, notes or any o... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6012 - Signature of the bonds, notes or any other instruments | The bonds, notes or any other instruments authorized pursuant to the provisions of this chapter shall be signed by, or shall bear the facsimile of the signature of the person who holds the office of mayor at the time of the signing thereof; the corporate seal of the municipality or a facsimile thereof shall be printed ... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6013/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6013 - Replacement of mutilated, destroyed or... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6013 - Replacement of mutilated, destroyed or lost bonds and notes | Replacement of mutilated, destroyed or lost bonds or notes shall be carried out pursuant to the procedure established by the Government Bank through regulations.
History —July 3, 1996, No. 64, § 14, renumbered as § 17 and amended on Aug. 12, 1997, No. 75, § 16. |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6014/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6014 - Negotiability of bonds, notes or any o... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6014 - Negotiability of bonds, notes or any other instruments | Except otherwise provided through an ordinance or resolution, the bonds, notes and other instruments authorized pursuant to this chapter, shall be considered negotiable instruments pursuant to the general negotiable instruments act in effect at the time the ordinance or resolution is adopted.
History —July 3, 1996, No.... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6015/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6015 - Limitations on the amount of indebtedn... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6015 - Limitations on the amount of indebtedness to be incurred | (a) Municipal general obligation bonds or notes.— No municipality shall incur an obligation evidenced by municipal general obligation bonds or notes for a total principal sum that, together with the principal to be paid for all other obligations evidenced by municipal general obligation bonds or notes of the municipali... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6016/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6016 - Provision for the payment of general m... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6016 - Provision for the payment of general municipal obligations, first lien, use of the s... | (a) The good faith, credit and the power of the municipality to levy unlimited taxes are hereby committed for the prompt payment of the principal and interest on all obligations evidenced by general obligations bonds or notes and the interest on obligations evidenced by notes in advance of municipal general obligation ... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6017/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6017 - Self-liquidating revenue generating pr... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6017 - Self-liquidating revenue generating projects | The Legislature of every municipality that issues obligations evidenced by revenue bonds by virtue of the provisions of this chapter to pay for the cost of revenue generating projects, shall fix and collect reasonable rates, fees, charges or rental payments for the use of the services or facilities provided by said rev... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6018/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6018 - Disposal of income of revenue generati... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6018 - Disposal of income of revenue generating projects | (a) Income generated by a revenue generating project financed by obligations evidenced by revenue bonds shall be used in the order of priority and for the purposes indicated below:
(1) To pay all operating and maintenance expenses of the revenue generating project;
(2) to provide reserves for the operation and maintena... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6019/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6019 - Validity of the pledging of the income... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6019 - Validity of the pledging of the income of revenue generating projects | The pledging or assignment of the income of a revenue generating project granted under the provisions of this chapter shall be valid and effective without the need for any subsequent action. The operating and/or lease contracts executed by the mayor or other duly authorized official with operators or lessees of revenue... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6020/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6020 - General obligations of the municipalit... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6020 - General obligations of the municipalities | (a) The obligations evidenced by municipal general obligation bonds or notes of a municipality constitute the general obligations of the municipality for the prompt payment of which the good faith, credit and power of the municipality to impose unlimited taxes are committed. The holders of municipal general obligation ... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6021/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6021 - Sale and negotiation of bonds, notes o... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6021 - Sale and negotiation of bonds, notes or any other instruments | (a) The bonds or notes issued under the provisions of this chapter may be sold as established hereinbelow:
(1) In case the Legislature decides to sell bonds or notes in a public sale, the Legislature shall delegate on the Bidding Board the holding of the public sale. The Legislature shall fix the sales price or delegat... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6022/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6022 - Use of the product of bonds, notes or ... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6022 - Use of the product of bonds, notes or other instruments | (a) The product of the bonds, notes and other instruments shall be used for the purpose or purposes authorized in the ordinance or resolution, as the case may be, up to an amount which does not exceed that provided for each purpose in the ordinance or resolution.
(b) If the amount used for any of the purposes specified... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6023/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6023 - Provisional receipts | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6023 - Provisional receipts | The Legislature may authorize the delivery of provisional receipts to the purchasers of bonds or notes until the definite bonds or notes are prepared through an ordinance or resolution to that effect.
History —July 3, 1996, No. 64, § 24, renumbered as § 27 and amended on Aug. 12, 1997, No. 75, § 26. |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6025/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6025 - Tax exemption | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6025 - Tax exemption | All municipal general obligation bonds or notes and all notes in advance of municipal general obligation bonds and the interest thereon shall be exempted from the payment of any taxes levied by the Commonwealth of Puerto Rico and its municipalities.
History —July 3, 1996, No. 64, § 26, renumbered as § 28 and amended on... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6026/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6026 - Loans from special funds | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6026 - Loans from special funds | (a) The municipalities are authorized to borrow money from the FEPEG (Spanish acronym), through obligations evidenced by notes or other instruments. These notes or instruments shall be deemed as special obligation notes or instruments under the provisions of this chapter. The procedure for their authorization shall be ... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6026a/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6026a - Obligations secured by the municipal ... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6026a - Obligations secured by the municipal retail sales and use tax | Municipalities are hereby authorized to take money on loan, to be secured and taking as base the product of the income or resources derived from the municipal retail sales and use tax, as defined in this chapter. Payment of these loans by the municipalities shall be chargeable to funds received on account of the munici... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6027/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6027 - Financing for emergencies | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6027 - Financing for emergencies | (a) When the Governor decrees a state of emergency in one or more municipalities and for the duration of said state of emergency, the Legislature of the municipalities declared to be in a state of emergency shall not be under the obligation to comply with the requirement of a public hearing provided in § 6006 of this t... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6028/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6028 - Fiscal agent | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6028 - Fiscal agent | (a) Notwithstanding any other provision of this chapter, regulations, ordinance or resolution to the contrary, the Government Bank shall be the fiscal agent of the municipalities with the responsibility for ensuring faithful compliance with this chapter and the sound administration of the loan activity of the municipal... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-261/6029/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029)›§ 6029 - Covenant of the Commonwealth of Puerto... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 261 - Municipal Financing Act of 1996 (§§ 6001 — 6029) › § 6029 - Covenant of the Commonwealth of Puerto Rico | The Commonwealth of Puerto Rico hereby commits itself and agrees with any person or persons who subscribe or acquire bonds, notes or instruments authorized under the provisions of this chapter, not to limit or alter the rights, obligations and faculties which are hereby conferred on the municipalities, the Center and t... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-263/subchapter-i/6601/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724)›Subchapter I - General Provisions (§§ 6601 — 6604)›... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724) › Subchapter I - General Provisions (§§ 6601 — 6604) › § 6601 - Definitions | The following terms and phrases, when used or made reference to in this chapter, shall have the meaning indicated below, unless otherwise clearly construed from the context:
(2) Bond or Bonds.— Shall include any temporary bonds, financing bonds, obligations, preferred or subordinate promissory notes, temporary debt ins... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-263/subchapter-i/6602/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724)›Subchapter I - General Provisions (§§ 6601 — 6604)›... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724) › Subchapter I - General Provisions (§§ 6601 — 6604) › § 6602 - Power of the municipalities to auth... | The municipalities are hereby authorized to designate tourism improvement districts through an ordinance, which shall be delimited at the request of the associations constituted according to this chapter and to the ordinances approved by the municipality (or municipalities in those cases in which the real property of s... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-263/subchapter-i/6603/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724)›Subchapter I - General Provisions (§§ 6601 — 6604)›... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724) › Subchapter I - General Provisions (§§ 6601 — 6604) › § 6603 - Purpose of the tourism improvement ... | The purpose of the tourism improvement districts shall be to create a mechanism to finance, acquire, dispose of, plan, design, develop, build, own, operate, maintain, manage, market, improve and promote improvement projects, and any other related projects or services, as described in greater detail in, and subject to t... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-263/subchapter-i/6604/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724)›Subchapter I - General Provisions (§§ 6601 — 6604)›... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724) › Subchapter I - General Provisions (§§ 6601 — 6604) › § 6604 - Imposts charged on benefits or prof... | The imposts charged on benefits or profits constitute a burden and a tacit lawful lien on real property levied in proportion to the benefits or profits received or to be received from an improvement project or projects. The amount of the imposts charged on benefits or profits shall not exceed the benefits or profits re... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-263/subchapter-ii/6621/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724)›Subchapter II - Establishing of Owners Associations... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724) › Subchapter II - Establishing of Owners Associations and the District Matters Administration (§§ 6... | Two-thirds (⅔) of all the property owners of an area who wish to develop an improvement project therein may voluntarily establish themselves as an owners’ association under the provisions of this chapter through written consent to such effect. Said associations shall be organized as nonprofit corporations according to ... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-263/subchapter-ii/6622/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724)›Subchapter II - Establishing of Owners Associations... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724) › Subchapter II - Establishing of Owners Associations and the District Matters Administration (§§ 6... | The association shall select a Board of Directors of at least three (3) persons from among all its members duly assembled, except as set forth in § 6655 of this title, in which case the Board of Directors may be constituted by less than three (3) persons.
The Board of Directors shall be responsible for making all admin... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-263/subchapter-ii/6623/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724)›Subchapter II - Establishing of Owners Associations... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724) › Subchapter II - Establishing of Owners Associations and the District Matters Administration (§§ 6... | The association shall meet at least once a year in a general assembly to elect its Board of Directors and to review both the annual accomplishment report and the financial report, which shall be certified by a certified public accountant. Any other matters that the Board of Directors or thirty percent (30%) of the memb... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-263/subchapter-ii/6624/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724)›Subchapter II - Establishing of Owners Associations... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724) › Subchapter II - Establishing of Owners Associations and the District Matters Administration (§§ 6... | Decisions on those matters listed below shall be reached at a general assembly duly-summoned through the affirmative vote of the majority of the members of the association present:
(a) The monthly or periodic fees to defray the operating expenses of the association.
(b) The plans for the works, projects, programs and s... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-263/subchapter-ii/6625/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724)›Subchapter II - Establishing of Owners Associations... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724) › Subchapter II - Establishing of Owners Associations and the District Matters Administration (§§ 6... | The following decisions shall also be made at a general assembly of the association, although with the affirmative vote of at least seventy-five percent (75%) of the total number of its members:
(a) The petition to the municipality to impose imposts charged benefits or profits on all real property located in the touris... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-263/subchapter-ii/6626/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724)›Subchapter II - Establishing of Owners Associations... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724) › Subchapter II - Establishing of Owners Associations and the District Matters Administration (§§ 6... | The fees or contributions collected to defray improvement projects that are not approved according to the provisions of § 6625 of this title, must be approved by a majority of the members of the association as required in this chapter, and shall be voluntary. The improvement projects to be financed with these voluntary... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-263/subchapter-ii/6627/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724)›Subchapter II - Establishing of Owners Associations... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724) › Subchapter II - Establishing of Owners Associations and the District Matters Administration (§§ 6... | The proportional amount to be contributed by each titleholder for the common expenses shall be determined, fixed and imposed at a general assembly of the association. The contribution or fees to cover the common expenses shall become due and be payable according to the agreements of the association adopted pursuant to ... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-263/subchapter-ii/6628/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724)›Subchapter II - Establishing of Owners Associations... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724) › Subchapter II - Establishing of Owners Associations and the District Matters Administration (§§ 6... | Every association must comply with the following norms and provisions:
(a) Maintain a strict accounting system regarding the funds received, their uses and surplus, according to generally accepted public accounting practices.
(b) Deposit the moneys in a bank account within the term provided by the Company through regul... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-263/subchapter-iii/6651/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724)›Subchapter III - Establishing of Districts (§§ 6651... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724) › Subchapter III - Establishing of Districts (§§ 6651 — 6658) › § 6651 - Determination of the Compa... | Any petitioner wishing to establish a tourism improvement district shall file a petition with the Company requesting its determination as to the proposed tourism improvement district shall promote and substantially strengthen the Puerto Rico tourism industry.
The petition must contain:
(a) The name of the proposed tour... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-263/subchapter-iii/6652/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724)›Subchapter III - Establishing of Districts (§§ 6651... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724) › Subchapter III - Establishing of Districts (§§ 6651 — 6658) › § 6652 - Petition for the establish... | Any petitioner may request the mayor of the municipality where the proposed district is to be located to establish a tourism improvement district in a particular geographical area and the imposition of the imposts for profits on every real property located within the proposed district.
In those cases where the boundari... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-263/subchapter-iii/6653/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724)›Subchapter III - Establishing of Districts (§§ 6651... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724) › Subchapter III - Establishing of Districts (§§ 6651 — 6658) › § 6653 - Municipal legislature; fac... | (1) The determination of the municipal legislature to authorize the establishment of the tourism improvement district and the imposition of the imposts for profits shall be based on the following factors:
(a) Whether all the statements contained in the petition have been established as being true and correct.
(b) Wheth... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-263/subchapter-iii/6654/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724)›Subchapter III - Establishing of Districts (§§ 6651... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724) › Subchapter III - Establishing of Districts (§§ 6651 — 6658) › § 6654 - Date for the payment of im... | The imposts for profits imposed pursuant to the terms of this chapter shall be payable annually to the association on the date provided by the latter in the notice issued annually for such purposes, in accordance with the provisions of § 6653 of this title. Said imposts for profits shall become delinquent if not paid w... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-263/subchapter-iii/6655/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724)›Subchapter III - Establishing of Districts (§§ 6651... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724) › Subchapter III - Establishing of Districts (§§ 6651 — 6658) › § 6655 - Associations established b... | The owner or owners of a parcel or parcels of land who wish to develop an improvement project on these may organize themselves as an association, request that the Company designate their improvement project or projects as a tourism improvement district, and file an improvement project proposal with the mayor pursuant t... |
https://law.justia.com/codes/puerto-rico/title-twenty-one/subtitle-7/part-iii/chapter-263/subchapter-iii/6656/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756)›Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756)›PART III (§§ 5901 — 6756)›Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724)›Subchapter III - Establishing of Districts (§§ 6651... | 2023 Laws of Puerto Rico › TITLE TWENTY-ONE - Municipalities (§§ 1-4 — 6756) › Subtitle 7 - Municipal Property Tax (§§ 5001 — 6756) › PART III (§§ 5901 — 6756) › Chapter 263 - Tourism Improvement of 1998 (§§ 6601 — 6724) › Subchapter III - Establishing of Districts (§§ 6651 — 6658) › § 6656 - Determination of the Compa... | The petition of an association for an improvement project may provide that any impost charged for benefits or profits on the real property located within a tourism improvement district, whose payment has not become due, be proportionally and automatically transferred, according to the formula established by the associa... |
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