291a

In order to allow the Company to perform its new functions and powers as directed by §§ 271—291a of this title, the existing balances of the budget for fiscal year 1997-98 are hereby transferred together with other available funds as of January 1, 1998.For subsequent fiscal years, the Executive Director of the Company shall submit a budget petition to the Office of Management and Budget, annually. Once said petition has been filed and evaluated it shall be submitted by the Governor to the Legislature within the General Expense Budget of the Government of Puerto Rico.Furthermore, the Company shall submit to the Office of Management and Budget and to the Office of the Controller of Puerto Rico, any reports required by these with regard to the use of the funds appropriated by virtue of §§ 271—291a of this title or any other funds received through other legislative appropriations. The Company shall also submit official reports to the Legislature and to the Governor of Puerto Rico, on those other occasions that may be required, on all those activities defrayed with the funds authorized pursuant to this section.The Company shall maintain separate accounts for all those obligations that

e other occasions that may be required, on all those activities defrayed with the funds authorized pursuant to this section.The Company shall maintain separate accounts for all those obligations that shall be defrayed chargeable to the budget item assigned to it in compliance with the stipulations provided herein. History —May 11, 1942, No. 188, p. 934, added as § 21 on Dec. 29, 1997, No. 203, § 14, eff. Jan. 1, 1998.