A ninety percent (90%)-exemption from the payment of income taxes, municipal licenses, construction excise taxes, and any other municipal tax or fee shall be granted to every housing construction or rehabilitation projects to be leased to elderly persons, provided that:\n(a) The construction or refurbishing of the rental housing units begins after the effective date of this act;\n(b) the owner submits an itemized list of cost approved by the Secretary of Housing prior to starting the construction or refurbishing works;\n(c) the tenant of the housing unit is an elderly person certified as eligible on the basis of the criteria issued by the Secretary of Housing through regulations, and\n(d) the owner submits a certification from the Municipal Revenues Collection Center to the Secretary of the Department of Housing stating that upon completion of the project, the housing units did not have any tax lien or encumbrance.\nHistory —Aug. 23, 1996, No. 165, § 3; Nov. 17, 2015, No. 187, renumbered as § 4 by § 57 and amended by § 58 on Nov. 17, 2015, No. 187.
Puerto Rico Legal Code