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PC 854

Para enmendar la Sección 1031.02 de la Ley 1-2011, según enmendada, conocida como el Código de Rentas Internas para un Nuevo Puerto Rico a los fines de otorgar una exención por el pago de intereses de préstamos para cubrir la compra del equipo y el costo de la mano de obra para la instalación de placas solares y sistemas de almacenamiento de energía en la residencia primaria del contribuyente; y para otros fines relacionados

2025-2028 Session

The bill grants tax exemptions for interest paid on loans to install solar panels and energy storage in Puerto Rico homeowners' primary residences, promoting renewable energy adoption.

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Bill Summary · PC 854

Summary of Puerto Rico Bill PC 854

Main Purpose and Intent

The primary purpose of Bill PC 854 is to amend Section 1031.02 of Law 1-2011, known as the Internal Revenue Code for a New Puerto Rico. The bill aims to grant a tax exemption for the payment of interest on loans used to cover the purchase of equipment and labor costs for the installation of solar panels and energy storage systems in the primary residence of taxpayers.

Key Provisions

The key provisions of this bill include:

  1. Providing a tax exemption for the interest paid on loans used to cover the costs of purchasing and installing solar panels and energy storage systems in the primary residence of Puerto Rico taxpayers.
  2. Applying the exemption to both the equipment costs and the labor costs associated with the installation of these renewable energy systems.
  3. Establishing this tax exemption as an amendment to the existing Internal Revenue Code for Puerto Rico.

Affected Parties

The main parties that would be affected by this bill are:

  • Puerto Rico taxpayers who own and reside in their primary homes
  • Homeowners who choose to invest in solar panel and energy storage systems for their residences
  • Businesses and contractors providing solar panel and energy storage installation services in Puerto Rico

Procedural and Timeline Aspects

The bill has been introduced and is currently referred to committee(s) for further consideration. The timeline for its potential passage and implementation is not specified in the available information.

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

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