P.R. Laws tit. 13, § 10441
(a) In the case of businesses engaged in eligible activities, as defined in § 10421 of this title, no new exemption decree applications shall be received under § 10642 (d)(1)(E) of this title, with respect to a property devoted to the production of green energy, as defined in this chapter, §§ 10642(d)(1)(H) and 10642(d)(1)(M) of this title, as of the effective date of this act. After the effective date of this act, notwithstanding the provisions of the abovementioned sections of Act No. 73 of May 28, 2008, as amended, any decree application in connection with any eligible activity shall be governed by the provisions of this chapter. However, any decree granted under §§ 10641 et seq. of this title, or similar preceding laws, shall remain in effect as to their particular provisions or may be converted or renegotiated under this chapter. New decree applications submitted before the effective date of this act in connection with eligible activities that have not been granted as of the effective date of this act, may be processed under this chapter at the option of the applicant.
(b) Any natural or juridical person who carries out or proposes to carry out an eligible activity, may apply for a decree in accordance with this chapter, regardless of the expected green energy production capacity.
(c) As a provisional measure, any person who has applied for an exemption decree under § 10642(d)(1)(H) of this title, on or before the effective date of this act, may assign, sell or transfer any credit granted before July 1, 2011, pursuant to § 10645(d)(3)(B) of this title and the regulations thereunder, and the provisions of subsections (c) and (f) of § 10646 of this title shall apply. For the purposes of such provisions:
(1) The term “investor” shall be replaced with “exempt business”.
(2) The term “credit for industrial investment” shall be replaced with “eligible investment credit under § 10645(d) of this title”.
(3) Reference to § 10646(b)(2) of this title, shall be understood to be made to § 10645(d)(3)(B) of this title.
(4) The term “eligible investment” according to § 10645(d)(2) of this title, shall include an investment made with cash from a loan secured by the exempt business or the assets thereof.
History —July 19, 2010, No. 83, § 2.20.