P.R. Laws tit. 13, § 10608
(a) Denial and reconsideration. — The Secretary of Housing may deny any application filed under this chapter when he/she determines in his sound discretion that it is not needed, taking into consideration the facts presented, the nature, condition and extraordinary infrastructure investment to be made, the infrastructure needs in the area where the housing project is to be developed, as well as the location of the project, its environmental impact and other factors that, in his/her judgment, are relevant.
Once the petitioner has been notified of a denial by virtue of the provisions of this section, he/she may request a first and only reconsideration from the Secretary of Housing, pursuant to the terms and conditions established by the regulations that the Department of Housing promulgates for these purposes, pursuant to the provisions of §§ 2101 et seq. of Title 3, as amended. In reconsidering the application, the Secretary of Housing may consider any other term or condition that does not exceed the benefits provided by this chapter, and which [in] his sound judgment, is needed to ensure the best interests of Puerto Rico, and the infrastructure development purposes of this chapter.
(b) Grounds and procedures for revocation; recovery of credit. — The Secretary of Housing may revoke the credits granted to the petitioner under this chapter, upon the recommendation of the Secretary of Housing, after allowing the petitioner to appear and be heard. The Secretary of Housing may determine that this revocation shall be effective from the date the petitioner is found guilty of the violation on which the determination is grounded, in the following cases:
(1) When the petitioner fails to comply with any of the obligations that have been imposed on him/her by this chapter by the regulations promulgated hereunder, or by the terms found in his/her certificate of approval, as the case may be.
(2) When the petitioner does not complete the infrastructure work within the term of three (3) years from the date the approval of credit certificate is issued.
(3) When the benefits of this chapter have been obtained through false or fraudulent representations with regard to the description of the housing project and infrastructure to be constructed, or the description or estimate of the proportion or capacity of the infrastructure that will benefit other persons, or for any other fact or circumstance that, in whole or in part, motivated the approval of the application for credits.
When the credits granted under this chapter are revoked, the petitioner shall owe the amount of the revoked credits plus any applicable interest, surcharges and penalties. These amounts shall be owed as income taxes by the petitioner.
History —Aug. 10, 2001, No. 98, § 10.