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(1) A new item shall be created to which twenty percent (20%) of the procurement budget item of each agency shall be allocated. The requirements to comply with said twenty percent (20%) shall be established through regulations.\n(2) Every agency shall set aside at least twenty percent (20%) of their total budget item for procurement to be awarded to micro, small-, and medium-sized businesses.\n(3) The Administration shall be in charge of the implementation, administration and supervision of the Reserves Program.\n(4) The agencies shall identify the articles, supplies or services that may be acquired from small and medium-size businesses through formal bidding, informal bidding, the open market or through a special procedure.\n(5) The agencies shall employ the ERB to confirm that the businesses meet the requirements for participating in the Reserves Program and for conducting the procurement processes from small and medium-size businesses.\n(6) Every agency shall maintain reports to document and inform of their achievements concerning the objectives of this Program. The agencies shall identity those purchases in which small and medium-size businesses may participate and shall

to document and inform of their achievements concerning the objectives of this Program. The agencies shall identity those purchases in which small and medium-size businesses may participate and shall establish a method for determining which shall be included in its Reserves Program.\n(7) Once the agency has identified a purchase as being adequate for the Reserves Program, it shall limit the invitation to duly registered small and medium-size businesses and reject any offer from businesses that are not classified as small or medium-size.\n(8) The departments, agencies, instrumentalities, entities, municipalities, and public corporations of the Commonwealth of Puerto Rico shall create a reserve consisting of setting aside three percent (3%) of the budget item for procurement of each entity in order to make payments to eligible micro, small-, and medium-sized businesses.\n(9) The agencies, government entities, and municipalities subject to this chapter shall remit the payment or contract sum to eligible small-, and medium-sized businesses within thirty (30) calendar days.\nHistory —Oct. 7, 2005, No. 129, § 8, renumbered as § 6 and amended on July 13, 2007, No. 63, § 7, eff.

contract sum to eligible small-, and medium-sized businesses within thirty (30) calendar days.\nHistory —Oct. 7, 2005, No. 129, § 8, renumbered as § 6 and amended on July 13, 2007, No. 63, § 7, eff. 60 days after July 13, 2007; June 11, 2014, No. 62, § 9.