P.R. Laws tit. 13, § 15

2019-02-20 00:00:00+00
§ 15. Dedicated Sales Tax Fund—Additional provisions

The Legislature hereby commits to approving an expenses budget for Fiscal Year 2006—2007 that will allow the Government to keep public servants in regular employment at their jobs and that will ensure the nonimpairment of the continuity in the direct services provided to citizens. This shall include the approval of legislation that shall provide additional recurring funds for an amount estimated to be not less than three hundred million (300,000,000) dollars and not more than four hundred million (400,000,000) dollars in addition to the revenues of the Commonwealth under the current tax system, in order to tend to the structural budget deficit.

Periodically, the Legislature shall evaluate the effectiveness of the collections generated under the tax measures referred to in the above paragraph; Provided, That once the structural budget deficit has been remedied, the use of said additional recurring funds for a purpose other than tending to the structural budget deficit, shall be transferred in its entirety to the two (2) retirement systems, in proportion to the number of their participants.

Likewise, the Government shall generate annual savings in an amount of not less than three hundred fifty million (350,000,000) dollars during the next three (3) years.

History —May 13, 2006, No. 91, § 5; Dec. 26, 2006, No. 291, § 4; renumbered as § 6 on July 5, 2007, No. 56, § 5; renumbered again as § 7 on Jan. 14, 2009, No. 1, § 5.