The Department of Housing, in coordination with the Department of the Treasury, may approve up to fifteen million dollars ($15,000,000.00) in credits for special investment in housing infrastructure and/or infrastructure of regional or municipal impact for each fiscal year. In the event that the Department of Housing understands that a larger amount of credit is needed during a specific fiscal year to see to the best interests of the Commonwealth of Puerto Rico, it may request the Department of the Treasury to authorize an additional amount of credits up to a total maximum of fifty million dollars ($50,000,000.00) per year.Before approving any additional amount of credit under this chapter, the Secretary of Housing shall obtain a certificate from the Secretary of the Treasury of the current amount of credits available for the fiscal year in question. If in any fiscal year, the Department of Housing does not grant credits for the total amount allowed, it may use or pass from one fiscal year to the next, the reminder of the credits not granted in a specific fiscal year. History —Aug. 10, 2001, No. 98, § 5; Aug. 6, 2008, No. 171, § 3.
Puerto Rico Legal Code