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Sen. Ada Álvarez-Conde introduced Senate Bill 483 to convert vacant public schools into affordable housing in Puerto Rico, noting that while many focus on abandoned houses, her bill targets unused government buildings.
Featured, Government
Senate bill proposes turning vacant buildings into affordable housing
Maria Miranda May 20, 2025

Puerto Rico Sen. Álvarez-Conde’s measure would prioritize closed schools. #NewsismyBusiness

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The State Insurance Fund Corp. in Puerto Rico will launch a mobile app July 1 to help employers manage policies and payments more easily.
Featured, Government
CFSE to launch mobile app for Puerto Rico employers starting July 1
NIMB Staff May 20, 2025

New digital tool will streamline payroll, certifications and policy access for more than 120,000 businesses. #NewsismyBusiness

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The $13.1 billion General Fund excludes special revenue and federal funds. With those included, Puerto Rico’s total consolidated budget for fiscal year 2026 is $32.6 billion.
Featured, Government
OBoard submits $13.1B budget for FY2026 developed with local gov’t
NIMB Staff May 15, 2025

More than 64% of General Fund allocated to education, health care, public safety and pensions. #NewsismyBusiness

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Puerto Rico Housing Secretary Ciary Pérez-Peña said the end of the Homebuyer Assistance Program application period does not mean funds have been exhausted.
Featured, Government
Puerto Rico Housing Dept. to phase out buyer assistance program
NIMB Staff May 7, 2025

More than 13,700 families have benefited from the HBA program; new housing initiative in development. #NewsismyBusiness

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Gov. Jenniffer González meets with cabinet members and private sector leaders to discuss Puerto Rico’s response to new U.S. tariffs.
Featured, Government
Puerto Rico gov meets with business leaders to address Trump tariffs
Maria Miranda May 6, 2025

She urged reshoring and collaboration to protect the island’s economy. #NewsismyBusiness

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Héctor Morales-Martínez, president of the Puerto Rico Planning Board.
Featured, Government
Planning Board updates economic model with 2017 Input-Output Matrix
NIMB Staff May 1, 2025

The 2017 IOM shows growth in Puerto Rico’s service sector and a decline in manufacturing, with a 2022 update in development. #NewsismyBusiness

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Investors under Act 60 receive tax incentives including a 4% fixed income tax rate, a 75% property tax exemption and a full exemption on capital gains accrued while residing in Puerto Rico.
Featured, Government
Puerto Rico House approves 4% tax rate for future Act 60 investors
NIMB Staff April 30, 2025

The new rate applies to capital gains, interest and dividends under the Incentives Code beginning next year. #NewsismyBusiness

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Democratic Rep. Nydia Velázquez of New York
Featured, Government
New bill targets crypto tax break in Puerto Rico
NIMB Staff April 23, 2025

Rep. Nydia Velázquez seeks to make digital asset income federally taxable for mainland investors on the island. #NewsismyBusiness

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Sebastián Negrón-Reichard, secretary of Puerto Rico’s Economic Development and Commerce Department
Featured, Government
DDEC seeks feedback to optimize Single Business Portal
NIMB Staff April 17, 2025

The deadline to participate in the survey is April 30. #NewsismyBusiness

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From left: Carmen Vega-Fournier, president of the Economic Development Bank; Nydza Irizarry-Algarín, secretary-designate of the Department of Labor; Norberto Almodóvar, deputy secretary of the Permits Management Office; Sebastián Negrón-Reichard, secretary of the Department of Economic Development and Commerce; and Eric Santiago-Justiniano, executive director of the Puerto Rico Industrial Development Co., meet with members of the press to discuss results of the first three months in office.
Featured, Government
DDEC outlines results of 1st 100 days, focusing on reshoring, creating jobs
Michelle Kantrow-Vázquez April 9, 2025

The government’s entire economic development component has been working on a reshoring strategy to attract manufacturing back to U.S. soil. #NewsismyBusiness

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From left: Miriam García-Velázquez, director of the Planning Board’s Subprogram of Social Analysis, Models and Projections; Alejandro Díaz-Marrero, director of the Economic and Social Planning Program; and Héctor Morales-Martínez, president of the Puerto Rico Planning Board.
Featured, Government
Puerto Rico Planning Board projects steady GNP growth through 2026
NIMB Staff April 8, 2025

The island’s economy grew 2.1% in fiscal 2024, driven by consumption and trade. #NewsismyBusiness

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Eduardo Soria-Rivera, executive director of Puerto Rico’s Central Office of Recovery, Reconstruction and Resilience
Featured, Government
COR3 allocates $38M for Hurricane Fiona reconstruction projects
NIMB Staff March 21, 2025

COR3 reaffirmed its commitment to working closely with municipalities across Puerto Rico. #NewsismyBusiness

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Featured, Government
Puerto Rico legislator proposes bill to enhance telemedicine services
NIMB Staff March 18, 2025

The proposed bill seeks to make telemedicine a mandatory component of basic health insurance coverage. #NewsismyBusiness

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Artist rendering of Adolfo Dones Park after the proposed renovation.
Featured, Government
San Juan opens bidding process for Adolfo Dones Park reconstruction 
NIMB Staff March 13, 2025

The expected cost of the project was not revealed. #NewsismyBusiness

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University of Puerto Rico and government health officials testified at the House Education Committee hearing on the proposed medical cannabis research and cultivation program.
Featured, Government
House bill exploring medical cannabis cultivation at UPR Utuado debated
NIMB Staff March 13, 2025

House Bill 177 seeks to amend the Medicinal Act to allow educational institutions to develop techniques for planting and handling cannabis seeds. #NewsismyBusiness

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QUOTE OF THE WEEK:

“After 10 years of Act 247-2015 [Law for the Promotion of Reusable Bags and the Regulation of the Use of Plastic Bags], we must seriously examine whether public policy has produced the expected effects.

 

We need to see the full picture: protecting the environment, weighing costs for consumers and ensuring viability for retailers. Our duty is to consider amendments or new strategies that bring a fair and effective balance for Puerto Rico.”

 

— Sen. Nitza Morán, chairwoman, Puerto Rico Senate Committee on Economic Development, Small Business, Banking, Commerce, Insurance and Cooperativism

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