Para enmendar el Artículo 7 de la Ley 103-2006, según enmendada, conocida como “Ley para la Reforma Fiscal del Gobierno de Puerto Rico de 2006”, a los fines de disponer que las resoluciones conjuntas y cualquier otra legislación que comprenda el Presupuesto General de Gastos del Gobierno de Puerto Rico, incluirá una sección que evalúe cuantitativa y cualitativamente el impacto eventual en el mediano plazo, de las políticas de ingresos, gastos y financiamiento a partir de las cuales se elaboraron las referidas legislaciones, en las variables macroeconómicas, en especial en las finanzas públicas, según los requerimientos que se definan vía reglamento, por la Oficina de Gerencia y Presupuesto.

2025-2028 Session

Requires budget-related laws to include a quantitative and qualitative medium-term evaluation of policy effects on revenues, expenditures, financing, and macrofiscal variables.

Referido a Comisión(es)

Overview

PC 137 proposes an amendment to Article 7 of Law 103-2006, known as the “Puerto Rico Fiscal Reform Law of 2006.” The amendment would require that joint resolutions and any other legislation that comprises the Government of Puerto Rico’s General Fund Budget include a dedicated section evaluating, in both quantitative and qualitative terms, the medium-term impact of the revenue, expenditure, and financing policies that underpin those pieces of legislation. The evaluation would focus on macroeconomic variables, with particular emphasis on public finances, and would be developed in accordance with regulatory requirements to be defined by the Office of Management and Budget (OGB/OGP in Spanish).

Purpose and intent

Strengthen budget policy analysis by ensuring that legislative documents tied to the General Fund Budget contain an explicit assessment of the medium-term effects of policy choices.

Improve transparency and informed decision-making regarding how budget policy may influence macroeconomic conditions and the government’s fiscal position over time.

Key provisions

Amend Article 7 of Law 103-2006 to require inclusion of a new evaluation section in joint resolutions and other budget-related legislation.

The evaluation must be both quantitative and qualitative.

The assessment must address the medium-term impact of the policies on revenues, expenditures, and financing sources that produced the legislation.

The analysis should consider macroeconomic variables, with a primary focus on public finances.

The format, methodology, and specific requirements of the evaluation will be defined by regulations issued by the Office of Management and Budget (OGB/OGP).

What would be affected

Legislative documents that constitute the General Fund Budget (e.g., joint resolutions and other budget-related laws).

The Office of Management and Budget (OGB/OGP), which would define regulatory requirements guiding the evaluations.

Government drafters, budget offices, and committees responsible for drafting, reviewing, and approving the budget.

The Legislative Assembly, which would receive and consider the evaluative sections as part of budget legislation.

Procedural and timeline notes

Introduced: January 8, 2025.

First reading: January 16, 2025.

Referred to committees: January 16, 2025 (and subsequently to additional committees on May 8, 2025).

Executive meeting: June 17, 2025 (Reunión Ejecutiva, Oficina de la Comisión).

Status updates indicate ongoing committee consideration and executive review.

Potential impact and considerations

Positive: Encourages evidence-based budgeting, improves long-term fiscal planning, and enhances transparency regarding policy effects on macroeconomic and fiscal variables.

Administrative considerations: May increase the workload for fiscal analysts and require new methodological guidance; effectiveness depends on the clarity and rigor of the regulatory rules established by OGB/OGP.

Implementation notes: The concrete requirements will be defined by regulatory norms, potentially affecting how quickly and consistently the evaluations are produced across budget-related legislation.

Bill