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5962 — Puerto Rico Law | CourtGPT
  1. Home/
  2. Laws/
  3. Puerto Rico/
  4. Title Twenty-one - Municipalities (§§ 1-4 — 6756)/
  5. Subtitle 7 - Municipal Property Tax/
  6. Part III - /
  7. Chapter 257/
  8. 5962
Puerto Rico Legal Code

5962

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The proceeds from taxes collected by virtue of the incentives granted under §§ 5951–5961 of this title shall be deposited in a special CRIM account in the Bank. Thirty percent (30%) of the total assessed for the basic tax shall be set aside to be transferred to the General Fund of the Commonwealth of Puerto Rico. The remaining amount shall be sent to the CRIM for distribution among Municipalities, as appropriate.\nHistory —July 2, 2010, No. 71, § 12.