P.R. Laws tit. 17, § 660c
The Housing Finance Authority shall be empowered to extend the mortgage interest subsidy to moderate-income families that acquire housing that, under the subsidy plan provided herein, are acquired from their owners by the Housing Finance Authority because of noncompliance with the mortgage contract, or when they find it impossible to comply with the obligations incurred, or for other reasons. Families to whom these homes are sold must be eligible for the benefits of §§ 651—660c of this title, and the subsidy shall be granted for the term and pursuant to the schedule established in § 656 of this title.
Notwithstanding the foregoing, as of the effective date of this act, the Housing Finance Authority shall not incur new subsidy obligations under the provisions of §§ 651-660c of this title, except in those cases in which there exists a previous commitment by the Housing Finance Authority.
Notwithstanding the provisions of § 656 of this title, no adjustment may be made to the subsidy on the date following the approval of this act and in which the same should have been adjusted. The adjustments shall be made subsequently in accordance with the provisions of said section.
History —July 5, 1973, No. 10, p. 771, added as § 11 on June 14, 1980, No. 144, p. 557, § 1; July 11, 1986, No. 116, p. 373; Aug. 4, 2012, No. 152, § 1.