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Tax Break Tracker Individual Entry

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 TerritoryPuerto Rico
Effected JurisdictionPuerto Rico
Jurisdiction type: State or Territory
Fiscal year ending In2022
Program nameCredit 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 taxesIndividual 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 dislosureTax abatement to promote and incentivize the revitalization of Urban Centers through construction of living spaces. Promote increase in property values and create jobs
Document sourcehttps://emma.msrb.org/P21797106-P21379346-P21818960.pdf