Gov. Ricardo Rosselló signed Senate Bill 840, which will establish the public policy for the so-called “sharing economy,” which is defined as the collaborative consumption where consumers rent goods and services among themselves. “This advanced law allows Puerto Rico to have a procedural framework to respond to the local sharing economy quickly, consistently and transparently,” […]
Gov. Ricardo Rosselló signed the Puerto Rico Climate Change Mitigation, Adaption and Resiliency Act, which establishes clear goals, metrics and deadlines to comply and address climate change. “Climate change is real, and it is the biggest threat to our way of life. This is the issue of our generation — the time for discussion is […]
Gov. Ricardo Rosselló signed into law today Senate Bill 1147, which establishes the regulatory framework for the development of Opportunity Zones in compliance with the Federal Tax Reform of 2017. The Opportunity Zones created under federal law provide tax benefits to low-income communities in order to achieve their economic development. Puerto Rico, as well as […]
The Associate Chairman of the American Association of Retired Persons, Eddie Olivera-Robles, on Wednesday backed a measure amending the Compulsory Mediation and Home Preservation Act, to give it more teeth when it comes to foreclosure proceedings.
Gov. Ricardo Rosselló signed Tuesday the Permitting Reform Act (Law 19-2017), that seeks to streamline the permitting process for businesses and promote new investments, job creation, and economic development on the island.
A framework for the legal sale of medical cannabis would generate a new source of revenue for Puerto Rico, to the tune of $14 million a year in sales tax revenue for the Treasury Department, an agency official told lawmakers Tuesday.
Bonistas del Patio Inc., which groups Puerto Rican bondholders holding about $15 billion in Commonwealth debt, called Gov. Alejandro García-Padilla’s decision to sign a law to restruction the Government Development Bank’s outstanding debt “irresponsible and illegal.”
Puerto Rico Acting Gov. Víctor Suárez, signed House Bill 2864 into law Wednesday, creating the Puerto Rico Aqueduct and Sewer Authority Revitalization Act, a statute that gives the water utility the tools to access capital markets and achieve self-sustainability.
A bill amending Law 62 of 2014 calling for an increase in government purchases from local small and mid-sized businesses from 20 percent to 30 percent starting this year has been signed into law, House Speaker Jaime Perelló announced.
Gov. Alejandro García-Padilla signed into law Senate Bill 110, which amends the “Law of the Authority for the Redevelopment of the Land and Facilities of the Roosevelt Roads Naval Station” to extend its term as a public corporation for an additional 30 years, or until the Authority complies with the agreements with the U.S. Department of the Navy.
BlueMountain Capital Management, LLC filed a lawsuit on Tuesday against the government of Puerto Rico, challenging the legality of a new law that allows certain public corporations to avoid their debts.
Gov. Alejandro García-Padilla filed Wednesday at the Legislature the “Puerto Rico Public Corporations Debt Enforcement and Recovery Act,” to create a clear legislative framework to assist financially stressed public corporations overcome their problems “through an orderly, statutory process” that allows them to handle their debts fairly and equitably, while ensuring the continuity of essential services to citizens and infrastructure upgrades.
Gov. Alejandro García-Padilla announced Wednesday the filing of a bill to establish the framework to allow Puerto Rico corporations in fiscal troubles to conduct an organized restructuring of their debt.
Gov. Alejandro García-Padilla on Wednesday signed Law 545, known as the “Microenterprise, Small and Mid-Sized Business Support Act,” to support that sector of the Puerto Rican economy.
Puerto Rico Gov. Alejandro García-Padilla signed Tuesday legislation authorizing the issuance of $3.5 billion in general obligation (GO) bonds to be used to refinance outstanding credit lines granted by the Government Development Bank and address the government’s liquidity issues.
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA