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PC 90

Para enmendar el inciso (b) (7) del Artículo 10 de la Ley Núm. 130 de 13 de junio de 1967, según enmendada, conocida como “Ley de la Oficina del Oficial de Construcción adscrita al Departamento de Asuntos del Consumidor”, para determinar que el urbanizador o constructor no podrá variar el precio cierto pactado en un contrato de opción de compraventa de viviendas, salvo en aquellas ocasiones en que medien circunstancias extraordinarias que justifiquen el cambio del precio convenido; y para otros fines.

2025-2028 Session

Prohibits developers from altering the fixed price in housing option-to-purchase contracts, except under extraordinary circumstances, protecting buyers from price shifts.

Referido a Comisión(es)
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Bill Summary · PC 90

Summary: PC 90 – Amendment to the price terms in housing option contracts

Overview

PC 90 seeks to amend a specific provision of Law No. 130 (the “Law of the Office of the Construction Official” under the Department of Consumer Affairs) to limit how the price in a housing option contract can be changed. The bill would require that the urbanizer or builder cannot vary the fixed price agreed in an option-to-purchase contract, except in extraordinary circumstances that justify changing the price. The measure is aimed at consumer protections in real estate transactions involving housing options.

What the bill would do

  • Amend subsection (b)(7) of Article 10 of Law 130, 1967 (as amended).
  • Prohibit the urbanizer or constructor from altering the fixed price stated in a housing option-to-purchase contract.
  • Allow a price change only in those occasions described as “circunstancias extraordinarias” (extraordinary circumstances) that justify modifying the price.
  • The text suggests additional purposes beyond price protection, as indicated by “y para otros fines” in the bill’s title.

Key provisions (highlights)

  • Scope: Applies to housing option-to-purchase contracts governed by Law 130’s framework.
  • Price changes: Prohibits price variation by the developer/builder unless extraordinary circumstances exist to justify a change.
  • Extraordinary circumstances: The bill designates these circumstances as the basis for any permitted price change, though the specific criteria are not detailed in the summary provided.
  • Implementation: The amended language would be codified in the referenced article and subsection of Law 130.

Who is affected

  • Developers and builders involved in housing option contracts (urbanizers/construction entities).
  • Buyers and prospective purchasers entering into option-to-purchase contracts for housing.
  • The Department of Consumer Affairs and its Office of the Construction Official, which administers the underlying law.

Procedural and timeline notes

  • Introduced: January 2, 2025.
  • Legislative actions:
    • January 2, 2025: Filed/Radicado.
    • January 16, 2025: Appears in First Reading in the House.
    • January 16, 2025: Referred to Committee(s).
  • Status: Referido a Comisión(es) (referred to committees) — currently in the committee stage for consideration and potential amendment.

Potential impact and considerations

  • Consumer protection: Strengthens assurances that buyers’ fixed prices in housing options are not casually increased by developers.
  • Market implications: Could constrain price flexibility for developers in option contracts, potentially affecting project financing or risk management.
  • Clarifications needed: The bill’s reference to “circunstancias extraordinarias” would require clearly defined criteria in the final text or regulations to guide enforcement and avoid ambiguity.

Next steps for readers

  • If you are a buyer or developer, monitor committee hearings and the text for definitions of extraordinary circumstances and any penalties or remedies.
  • Consider stakeholder input on how the criteria for extraordinary circumstances should be defined and applied.

Compiled from official sources — confirm details with the bill’s official record.

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