P.R. Laws tit. 17, § 1492
(a) The Secretary of Housing is hereby authorized to create a program to subsidize the monthly payment of housing rents and interest on loans granted to elderly persons or their relatives with whom they live permanently, to perform improvements to facilitate their mobility and enhance the enjoyment of their home.
(b) The subsidy shall consist of reducing the monthly rental payments of individual or multiple housing, and of the payments of loans granted to elderly persons or their relatives for home improvements, as provided in subsection (a) of this section. The Secretary of Housing is hereby authorized to adopt the regulations needed to determine the subsidy to be received by the beneficiary, based on the monthly income of the person or his/her relatives, and his/her family composition.
(c) The maximum subsidy to be granted shall not exceed the amount of four hundred dollars ($400) per month. The Secretary of Housing is hereby empowered to adopt the regulations needed to provide the subsidies to be granted and the duration thereof.
(d) Upon granting of the lease subsidy, the same may be varied annually, should there be a change [in] the income or family composition of the beneficiary.
(e) The Secretary of Housing may request and obtain evidence of the income or family composition of the applicant, in order to determine the subsidy to be granted.
(f) The beneficiary of the subsidy shall keep the corresponding monthly payments up to date, to continue availing him/herself of the subsidy granted under this chapter. Should the beneficiary of the subsidy fall in arrears in the payment of the loan for improvements or the rental payment, the subsidy for months in arrears shall only be honored if the payment is brought up to date and the financial institution or the lessor accepts it.
(g) This Program shall receive a recurring annual appropriation of five million dollars ($5,000,000) from the General Budget of the Government of the Commonwealth of Puerto Rico, to be made to the Department of Housing beginning in Fiscal Year 2016-2017 to defray the administrative and operating expenses of the Program. This budget appropriation shall be considered separate from the contributions of the Puerto Rico Lottery which are established in this chapter.
History —Aug. 31, 1996, No. 173, § 3; Sept. 8, 2000, No. 393, § 3; Nov. 17, 2015, No. 187, § 61.