P.R. Laws tit. 13, § 631
(a) All personal and real property, including the land, buildings, equipment, accessories and vehicles owned or acquired in the future by the Olympic Trust, including the Casa Olímpica and the sports and recreational center known as the Germán Rickehoff Albergue Olímpico of Puerto Rico is hereby exempted from the payment of property taxes.
This exemption shall be in effect and be maintained while said property belongs to the Olympic Trust; Provided, That the Trust shall file with the Secretary of the Treasury an inventory of all real and personal property it owns by the date of approval of this act.
(b) The tax exemption herein provided is subject to the Olympic Trust not being indebted for any other taxes. Furthermore, the Trust shall render a written report on the operational activities and status of the Trust to the Secretary of the Treasury not later than the first of February of each year.
History —Sept. 29, 2004, No. 507, §§ 1, 2.