Puerto Rico bill proposes review of business laws
New Progressive Party Rep. Ángel Morey-Noble has introduced House Bill 456, a measure directing the House Reorganization, Efficiency and Diligence Committee to conduct a review of Puerto Rico’s business environment in collaboration with organizations representing the private sector.
The purpose of the initiative is to identify laws that may need to be amended or repealed and to propose new legislation that could foster economic growth, streamline government processes and improve public-private collaboration.
The bill states that building a competitive business sector is a cornerstone of Puerto Rico’s long-term development strategy. It emphasizes the importance of maintaining dialogue with the private sector to attract investment, generate jobs and sustain growth.
Lawmakers emphasize that listening to the concerns, ideas and proposals of private-sector stakeholders is key to creating a favorable environment for doing business.
“The purpose of this research resolution is to gather the information, ideas and proposals available to make our laws evolve and allow for a more optimal and prosperous business climate in Puerto Rico,” the bill states.
Under the measure, the committee is instructed to consult with business associations, trade groups and economic development organizations. It is tasked with evaluating outdated or burdensome laws, exploring regulatory reforms and considering new legislative proposals for competitiveness and government efficiency.
A report with findings and recommendations must be submitted to the House of Representatives within 120 days of the bill’s adoption.
The measure, referred to the House Internal Issues Committee, would take effect immediately if enacted.
