Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.
State or Territory: | Puerto Rico |
Effected Jurisdiction: | Puerto Rico |
Jurisdiction type:![]() | State or Territory |
Fiscal year ending In: | 2022 |
Program name: | Credit for construction investment in Urban Centers |
Program purpose:![]() | Construction/Revitalization/Job Creation |
Statutory authority:![]() | PR Internal Revenue Code Section 1051.08(b) (5) & Act 212 of 2002 |
Abating jurisdiction(s):![]() | Territory of Puerto Rico |
Applicable taxes: | Individual Income Tax |
Method of abatement:![]() | Income Tax Credit |
Provisions for recapture:![]() | None |
Gross revenue loss:![]() | $700,000 |
Reimbursement / offset:![]() | $0 |
Net revenue loss:![]() | $700,000 |
Type of loss:![]() | Active |
Additional notes on dislosure: | Tax abatement to promote and incentivize the revitalization of Urban Centers through construction of living spaces. Promote increase in property values and create jobs |
Document source: | https://emma.msrb.org/P21797106-P21379346-P21818960.pdf |