P.R. Laws tit. 3, § 458

2019-02-20 00:00:00+00
§ 458. Emergency Fund—Unencumbered surplus

Beginning with Fiscal Year 1995-96, the Emergency Fund shall be capitalized annually by an amount not less that one-fifth (0.20) of one percent of the total of the Joint Resolution for the Budget. Beginning Fiscal Year 1998-99, said contribution shall be not less than one percent of the total net rents for the previous fiscal year. The Governor of Puerto Rico and the Director of the Management and Budget Office, by delegation of the latter, may order the income from any income source into the Fund for an amount greater than the amount set forth herein, when so deemed convenient. The balance of said Emergency Fund shall never exceed one hundred fifty (150) million dollars, whichever is greater [sic].

History —June 21, 1966, No. 91, p. 304, § 2; Aug. 18, 1994, No. 89, p. 5, § 4; Aug. 20, 1997, No. 93, § 2; Aug. 28, 2003, No. 222, § 1.