Treasury Dept. seeks exclusion from federal Foreign Tax Credit public policy
February 11, 2021
The Puerto Rico Treasury Department has asked its federal counterpart to clarify whether a new regulation under consideration concerning credits granted for taxes paid by corporations doing business abroad would apply to Puerto Rico. In a letter sent to US Treasury Secretary Janet Yellen, the local government asked for the proposed “Guidance Related to the […]
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CDBG-DR assigns $20.8M to San Juan for recovery works in the city
February 11, 2021
The Municipality of San Juan will receive $20.8 million from the Community Development Block Grant (CDBG-DR) City Revitalization Program for the restoration of infrastructure in areas still affected by the 2017 hurricanes. The funding is part of a sub-recipient agreement signed between San Juan Mayor Miguel Romero-Lugo and Puerto Rico Housing Department Secretary William Rodríguez-Rodríguez, […]
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PRASA unveils $40M improvement plans for eastern-area water systems
February 9, 2021
The Puerto Rico Aqueduct and Sewer Authority announced the reconstruction of the Caguas Central Laboratory, at an investment of some $40 million. It consists of the construction of a structure designed under the new codes established for earthquakes and atmospheric systems, PRASA Executive President Doriel Pagán-Crespo said. She added that during the last quarter of […]
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GAO: Puerto Rico spent most of its ’18 Medicaid budget on contractors
February 8, 2021
The U.S. Government Accountability Office (U.S. GAO) released a report urging the Centers for Medicare & Medicaid Services (CMS) to crack down on Puerto Rico’s procurement process, as in 2018 the Commonwealth paid contractors almost all of its Medicaid spending, or 97% of its $2.5 billion budget. The GAO’s recommendation of a “risk-based oversight approach” […]
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Puerto Rico to get $4.3M from McKinsey & Co. opioid case settlement
February 5, 2021
The Commonwealth of Puerto Rico is among 47 states, the District of Columbia, and four territories that will split $573 million from that consulting firm McKinsey & Co. entered into to settle claims that it “fueled” the country’s opioid crisis. Puerto Rico will get a little more than $4.3 million, said Justice Secretary Domingo Emanuelli, […]
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HUD renews $20.7M in funding to 63 homeless programs in Puerto Rico
February 4, 2021
The U.S. Department of Housing and Urban Development announced it has renewed funding for 63 homeless support programs in Puerto Rico, meaning the availability of $20.7 million for that purpose. The allocation is part of a global $2.5 billion budget to renew existing grants for more than 6,500 community-based housing and service providers across the […]
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FEMA OKs $550K to nonprofits that protect women domestic violence victims
February 4, 2021
The Federal Emergency Management Agency has approved nearly $550,000 for nonprofits that offer services for women who are victims of domestic violence. These allocations include $400,000 for three permanent repair projects and other allocations for emergency work following Hurricane María. Citing Puerto Rico Police Bureau Statistics Office, FEMA said there were 6,170 incidents of domestic […]
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17K businesses in Puerto Rico eligible for $65M in pandemic recovery aid
February 3, 2021
Puerto Rico government officials announced the availability of $65 million in new economic assistance for some 17,000 eligible small businesses whose operations have been interrupted during the COVID-19 pandemic. At a news conference, Department of Economic Development and Commerce Secretary Manuel Cidre and Treasury Secretary Francisco Parés offered details of the Business Interruption Grant from […]
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Cidre urges Puerto Rico businesses to opt into 2nd round of SBA funding
February 3, 2021
Department of Economic Development and Commerce Secretary Manuel Cidre urged Puerto Rican businesses and self-employed individuals to participate in the second round of the U.S. Small Business Administration’s Paycheck Protection Program, which so far has approved $88.4 million in loans. In a report issued late Monday, the federal agency confirmed it has given its support […]
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Campaign promises of ‘low-cost, reliable and clean electricity’ must be kept
January 28, 2021
The devastation caused by Hurricane María in 2017 highlighted Puerto Rico’s “antiquated, expensive and fossil fuel-dependent” electricity grid, providing the Biden administration with an historic opportunity to transform a vital part of the island’s economy. The Institute for Energy Economics and Financial Analysis (IEEFA) recommends in a new policy brief that the administration battle entrenched interests that […]
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FEMA assigns $10M+ to repair Puerto Rico’s elderly homes
January 26, 2021
With the purpose of contributing to the well-being and health of the elderly, the Federal Emergency Management Agency announced it has allocated more than $10 million for 31 permanent repair projects for senior centers throughout the island. The funds will serve 24 municipal facilities that are dedicated to the care of this population and another […]
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PREPA unveils 10-year, $10.7B grid revitalization program
January 21, 2021
The Puerto Rico Electric Power Authority announced the start of its Electric Grid Revitalization Program, using a $10.7 billion allocation from the Federal Emergency Management Agency (FEMA). Details of the 10-year infrastructure modernization plan, delivered and approved by FEMA in December to rebuild and bring the electrical system on the island up to standards and […]
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Burns & McDonnell to support PREPA’s grid revitalization process
January 15, 2021
Kansas City-based Burns & McDonnell has been awarded a contract for program management services to support the Puerto Rico Electric Power Authority (PREPA) with the revitalization of Puerto Rico’s electrical grid. The financial terms of the agreement were not disclosed. The work will be primarily funded by the Federal Emergency Management Agency (FEMA) and Community […]
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Pierluisi creates steering committee to oversee LUMA Energy contract
January 14, 2021
Gov. Pedro Pierluisi announced the creation of a steering committee to oversee the Public Private Partnership contract to run the Puerto Rico Electric Power Authority’s transmission and distribution granted to LUMA Energy. The steering committee was established in response to Executive Order 2021-012, which calls for overseeing and ensuring that the enactment of the contract […]
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Puerto Rico Treasury opts into $325M federal rental assistance program
January 13, 2021
The Puerto Rico Treasury Department has filed an application to participate in the newly announced Emergency Rental Assistance Program run by the U.S. Department of the Treasury that could represent $325 million in aid for the island, this media outlet confirmed. The federal government is making a total of $25 billion available to assist households […]
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