WeVote
Log In

Bill

Bill

PS 743

Para enmendar la Sección 1020.02(A)(9) de la Ley Núm. 60-2019, conocida como “Código de Incentivos de Puerto Rico”, a los fines de cambiar la edad de treinta y cinco (35) años a cuarenta (40) años en la definición de Joven Empresario.

2025-2028 Session

Raises the age cap for "Joven Empresario" from 35 to 40, expanding eligibility for incentives under the Puerto Rico Incentives Code.

Comisión no recomienda aprobación de la medida
0
WeVote Research Nonpartisan
Bill Summary · PS 743

Summary of Senate Bill PS 743

Purpose

PS 743 proposes to amend Section 1020.02(A)(9) of Law No. 60-2019, known as the Puerto Rico Incentives Code. The change would modify the definition of “Joven Empresario” (Young Entrepreneur) by increasing the age threshold from 35 years old to 40 years old. The bill seeks to broaden eligibility for incentives and programs that target young entrepreneurs under the Incentives Code.

Key Provision

  • Amends Section 1020.02(A)(9) of the Puerto Rico Incentives Code (Law No. 60-2019).
  • Replaces the current age limit of 35 years with an age limit of 40 years for the definition of “Joven Empresario.”
  • All other criteria and provisions related to the definition remain unchanged.

Who Would Be Affected

  • Individuals classified as “Joven Empresario” under the current code (i.e., those 35 years old or younger) would be eligible if the amendment becomes law and they meet all other qualifying criteria.
  • Programs, incentives, tax credits, or benefits tied specifically to the “Joven Empresario” designation could expand to include a larger pool of entrepreneurs (those up to age 40), subject to the remaining eligibility requirements.

Procedural and Timeline Details

  • Introduced: September 25, 2025.
  • Legislative actions:
    • September 25, 2025: Bill radicado (filed).
    • September 29, 2025: Appears in Primera Lectura del Senado (First Reading in the Senate).
    • September 29, 2025: Referido a Comisión(es) (referred to standing committees).
  • Current status: PS 743 is in the referral stage in the Senate and has not yet advanced to further readings or a final vote.

Potential Impacts and Considerations

  • Policy impact: Broadening the age cap to 40 could increase eligibility for programs under the Incentives Code that support young entrepreneurs, potentially encouraging more small businesses and startups.
  • Fiscal/administrative impact: Depending on program design, expanding eligibility could have budgetary implications if incentives are capped or require additional allocations; implementation would require administrative updates to program guidelines and applicant screening criteria.
  • Implementation: If enacted, the change would apply to the definition of “Joven Empresario” within the relevant sections of the Incentives Code and any programs that rely on that definition.

Next Steps

  • Monitor for committee hearings, amendments, and eventual passage by both legislative chambers and approval by the governor.
  • Review the full bill text for any clarifications on eligibility timelines, retroactivity, or transitional provisions.

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

Sign in to ask a question.