P.R. Laws tit. 3, § 9103
In order to promote the public policy set forth in this subchapter, the measures provided in §§ 9111—9134 of this title shall be in effect through July 1st, 2017, or if accomplished before, through July 1st of any fiscal year for which, as part of their respective recommendation process of the General Expense Budget submitted by the Governor to the Legislative Assembly, a certification signed by the corresponding official has been included, and whereby:
(a) The Chair of the Planning Board certifies that the actual growth of the Gross National Product projected for said fiscal year is equal to or higher than one point five percent (1.5%);
(b) The President of the Government Development Bank certifies that a credit rating agency in capital markets has rated, as of the certification date, the creditworthiness of the general obligations of the Commonwealth of Puerto Rico as investment grade; and
(c) The Secretary of the Treasury and the Director of the Office of Management and Budget certify that, the fiscal year ending before the date on which the certification is submitted, closed, or is estimated to close without refinancing general obligations of the Commonwealth of Puerto Rico or public or private financing used to cover gaps between projected income or expenditures in excess of the corresponding appropriations.
Every Entity of the Executive Branch shall have the ministerial duty to draft and file with the Governor and with the Secretary of the Senate and the Clerk of the House of Representatives a quarterly report within ninety (90) days after the approval of this subchapter and during the effective term thereof, stating in an itemized and detailed manner the measures taken, as well as the results and any other pertinent information to show and assess compliance with the provisions of this subchapter.
History —June 17, 2014, No. 66, § 4.