P.R. Laws tit. 21, § 5903

2019-02-20 00:00:00+00
§ 5903. Retention of statutory debts

The Secretary [of the Treasury] shall deduct from the total sum of the financing authorized, those amounts on account of statutory debts the municipal governments owe the Government of Puerto Rico, such as those had with the Retirement Systems Administration, Social Security, Chauffer’s Insurance, Employee’s Association, Withheld Income tax, Employment Insurance and others of similar nature. Debts with public corporations and other government instrumentalities are excluded. Provided, That there will be no withholding from payment of any amount on account of the aforesaid debts to those municipalities that certify in writing to the Secretary of the Treasury with documented facts that they are not in agreement with the notified statutory debts.

The remaining amount of the financing shall be remitted to the Municipal Revenues Collection Center (CRIM, Spanish acronym), for its distribution to the municipalities after the previously defined statutory debts have been withheld.

History —Aug. 11, 1995, No. 163, § 3, retroactive to July 1, 1995.