(a) General rule.— Any Puerto Rico Resident individual who has attained, on the last day of the taxable year, the age of sixty five (65) or more and who has not been claimed as a dependent by another taxpayer, shall be entitled to a refundable personal compensatory credit of four hundred dollars ($400), but only if the gross income of such individual for the taxable year added to the items included in the gross income under § 30101(b) of this title for such year does not exceed fifteen thousand dollars ($15,000). In the case of married taxpayers, each one, shall be entitled to claim the credit provided in this subsection; provided, that the aggregate income of both taxpayers does not exceed thirty thousand dollars ($30,000).(b) Compensatory credit for low-income pensioners.— In addition to the provisions of subsection (a), any individual who is pensioned by the Retirement System Administration of the Employees of the Government and the Judiciary, the Teacher’s Retirement System, the Retirement System of the University of Puerto Rico, the Electric Power Authority Retirement System, or private-sector retirement system, whose only source of income is the pension for services

m, the Retirement System of the University of Puerto Rico, the Electric Power Authority Retirement System, or private-sector retirement system, whose only source of income is the pension for services rendered, if the amount received from such pension does not exceed four thousand eight hundred dollars ($4,800) during the taxable year, shall be entitled to claim a three hundred dollar ($300) annual credit. In the case of married individuals, each spouse shall be entitled to claim the credit provided in this subsection if both qualify therefor. History —Jan. 31, 2011, No. 1, § 1052.02, retroactive to Jan. 1, 2011; Dec. 10, 2011, No. 232, § 52.