P.R. Laws tit. 25, § 2920
(a) It is resolved and declared that the purposes for which the Puerto Rico National Guard Institutional Trust is created, and for which it shall exercise its powers, are of public nature for the benefit of the People of Puerto Rico. Therefore, it shall not be required to pay any taxes, or Commonwealth or municipal imposts on any of the properties acquired by the Puerto Rico National Guard Trust, or under the jurisdiction, power, control, dominium, possession, or supervision of the Puerto Rico National Guard Institutional Trust or on the earnings obtained from any of the firms or activities directly developed and operated by this Trust.
(b) To expedite the obtaining of funds to attain its corporate purposes, the bonds issued by the Puerto Rico National Guard Institutional Trust under the provisions of this chapter, their transfer and proceeds derived therefrom (including any profits obtained from the sale thereof) shall be and shall remain exempt from the payment of income taxes by the Commonwealth of Puerto Rico or any of its political subdivisions, for all time.
(c) The Puerto Rico National Guard Institutional Trust is hereby exempted from the payment of all kinds of fees prescribed for the registration of documents and other operations in the Property Registry of Puerto Rico; Provided, further, That the exemption provided in this section, shall be extended to the Internal Revenue stamps for the original and certified copies of the deeds granted by this Trust.
History —July 23, 1991, No. 23, § 12.