P.R. Laws tit. 5, § 430e
This chapter shall not affect the granting of subsidies and incentives provided to the colonos through the Farming and Animal Husbandry Services and Development Administration. No later than five (5) years after the transfer date, the Secretary shall conduct a study and present to the Governor of Puerto Rico his/her recommendations as to whether said subsidies and incentives should continue or be repealed. To that end, the enterprise(s) shall submit all reports required by the Secretary and place at his/her disposal all books, accounts and other documents so that the latter may obtain the necessary data for said study.
The subsidies and incentives offered by the Corporation to the colonos annually shall be terminated on the transfer date, with the exception of the incentive for new plantings, and cutting and transportation, which shall be granted by the Farming and Animal Husbandry Services and Development Administration under the same terms as those indicated in the first paragraph of this section.
The enterprise(s) that take(s) charge of the cultivation, production, marketing and sale of sugarcane and/or its by-products using the assets transferred by this chapter, shall enjoy the provisions of §§ 10401 et seq. of Title 13, known as the “Agricultural Tax Incentives Act”.
Furthermore, they shall be entitled to the exemption provided by § 9011(c)(5) of Title 13, part of the Puerto Rico Internal Revenue Code of 1994.
History —Sept. 5, 1996, No. 189, § 7.