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PC 856

Para enmendar la Sección 1033.15 de la Ley 1-2011, según enmendada, conocida como el “Código de Rentas Internas de Puerto Rico de 2011” para permitir una deducción máxima de dos mil (2,000) dólares por fondos concedidos a una cuenta de aportación educativa por un contribuyente individual; y para otros fines relacionados.

2025-2028 Session

Bill allows Puerto Rico individual taxpayers maximum $2,000 annual tax deduction for educational savings account contributions to incentivize education financing.

Referido a Comisión(es)
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WeVote Research Nonpartisan
Bill Summary · PC 856

Legislative bill overview

Bill PC 856 amends Puerto Rico's Internal Revenue Code to allow individual taxpayers a maximum deduction of $2,000 for funds contributed to educational savings accounts (cuentas de aportación educativa). This tax incentive is designed to encourage parents and guardians to save for education expenses by reducing their taxable income.

Why is this important

Educational savings accounts are critical tools for families to afford higher education costs, which have risen significantly. By creating a tax deduction, this bill could make education more financially accessible to middle and lower-income families in Puerto Rico, while potentially increasing participation in formalized education savings programs.

Potential points of contention

  • Revenue impact: The Treasury Department may oppose this measure due to reduced tax revenue, particularly if adoption rates are high among higher-income earners who benefit most from deductions
  • Equity concerns: A flat $2,000 deduction may disproportionately benefit higher-income individuals who can afford to contribute, while lower-income families cannot maximize the benefit
  • Scope limitations: The bill doesn't clarify what qualifies as an "educational savings account" or whether funds can be used for all education levels (K-12, vocational, university, international)

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

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