P.R. Laws tit. 21, § 1095p
Three (3) years after the approval of this act, the Secretary of the Treasury and the Office of the Urbanism Director shall conduct a study to determine the effectiveness of the act regarding the development and rehabilitation of the urban centers. Said study shall take into account the number of completed rehabilitation projects as well as the number of those projects in process.
As part of the study, the impact on the treasury of the benefits or incentives granted under the provisions of this chapter, as well as their multiplying effect for the economy of the urban centers, especially the creation of new jobs resulting from the construction works related to the rehabilitation and improvement carried out in the urban centers shall be determined. The Secretary of the Treasury and the Office of the Director may contract external resources to carry out the study herein specified, the funds for such contracting shall be appropriated to the operating expenses of each agency. If, as a result of this study, it is verified that the fiscal effects of the incentives herein granted do not compensate the economic activity generated by the development and operation of the subsidized projects, the Secretary of the Treasury, upon previous request of the Office of the Director, is hereby empowered to establish an annual limit to the credit available under subsection (f) of § 1095g of this title.
History —Aug. 29, 2004, No. 212, added as § 6.06 on Apr. 23, 2004, No. 102, § 4.