P.R. Laws tit. 3, § 8647
(1) At least sixty (60) calendar days prior to each fiscal year every agency shall deliver to the Administration its plan for complying with the Reserves Program for that year.
(2) The Administration shall monitor and supervise the Program by evaluating monthly reports submitted by the agencies not later than the tenth (10th) day of each month by virtue of the regulations.
(3) Agencies shall report the budget item for procurement and the amount corresponding to the twenty percent (20%) set aside for the Reserves Program. Furthermore, the General Services Administration, together with the Trade and Export Company, shall certify compliance by every government agency with this section, and shall begin an information and effective oversight process for compliance therewith.
(4) The Administration shall prepare a quarterly report as well an annual report addressed to the Governor which shall include the number and the total value of the purchases made and the number of benefited businesses.
(5) Penalty for noncompliance with this chapter.-The Department of the Treasury shall withhold one percent (1%) of the general budget of any department, agency, instrumentality, entity, municipality, and public corporation of the Commonwealth of Puerto Rico in the event of noncompliance with the provisions of this chapter. Said noncompliance shall be certified by the Trade and Export Company. The sums collected shall be transferred to the Department of Economic Development and Export [sic] to be remitted to the Trade and Export Company. With this added budget, the Trade and Export Company shall hire additional human capital and acquire the tools needed to ascertain compliance with this chapter. Moreover, the Trade and Export Company shall use such resources for funding any grants, incentives, training workshops, and any other activities as are necessary to strengthen and oversee the economic development of micro, small-, and medium-sized local businesses.
History —Oct. 7, 2005, No. 129, § 9, renumbered as § 7 and amended on July 13, 2007, No. 63, § 8, eff. 60 days after July 13, 2007; June 11, 2014, No. 62, § 10.