P.R. Laws tit. 3, § 9216
It shall be the responsibility of the Certifying-Issuing Agencies to thoroughly evaluate the applications for tax incentives or benefits, the amendments thereto, or the maintenance of said incentives in order to ascertain whether the natural or juridical person meets the requirements set forth in this chapter and in the laws under which said tax incentives or benefits are awarded.
Once the certifying-issuing agencies ascertain to their satisfaction that the natural or juridical persons meet the requirements of the aforementioned laws, at the request of the natural or juridical person interested in any tax incentive or benefit, said agencies shall issue a Certificate of Compliance and make it available to the appropriate grantor-recipient agencies. The Certificate of Compliance shall endorse the tax incentive or benefit and it shall contain all the information required herein, as well as any other information required under the law that grants the tax incentive or benefit in question.
Certifying-issuing agencies shall be responsible for overseeing the eligibility of natural or juridical persons every two years in order to verify whether they are compliant with all the provisions of this chapter and specific laws, as well as with the agreements entered into to obtain the tax incentive or benefit in question. This includes verifying whether they still meet the requirements to prevent the revocation of the tax credit awarded, as the case may be.
History —Nov. 17, 2015, No. 187, § 8; Dec. 28, 2016, No. 208, § 37.