Para enmendar la Sección 2023.01 de la Ley 60-2019, según enmendada, conocida como “Código de Incentivos de Puerto Rico”, a los fines de establecer como condición para la concesión y mantenimiento de los decretos contributivos otorgados a Individuos Residentes Inversionistas la obligación de realizar donaciones anuales a organizaciones sin fines de lucro debidamente reconocidas bajo la Sección 501(c)(3) del Internal Revenue Code de Estados Unidos; y para otros fines relacionados.

2025-2028 Session

The bill requires annual charitable donations to 501(c)(3) organizations as a condition to obtain and keep Puerto Rico incentive decrees for Individual Resident Investors.

Referido a Comisión(es)

PC 1133 (Session 2025-2028) — Puerto Rico

Purpose and intent

The bill seeks to amend Section 2023.01 of Law 60-2019, as amended, commonly known as the “Puerto Rico Incentives Code.”

It would establish a new condition for the granting and maintenance of tax decrees and incentives awarded to Individual Resident Investors (Individuos Residentes Inversionistas).

Specifically, it requires annual donations to recognized charitable organizations under IRS Code Section 501(c)(3) as a condition of eligibility and continued status for the incentives.

Key provisions and changes

Amends Section 2023.01 of Law 60-2019 to insert a philanthropy/donation requirement.

The new condition imposes annual charitable contributions to 501(c)(3) organizations as a prerequisite for obtaining and retaining incentive decrees.

The bill ties the incentive program’s ongoing benefits to compliance with annual donation obligations (i.e., failure to donate could jeopardize eligibility or maintenance of the decree).

Additional details (e.g., minimum donation amounts, eligible types of organizations, deposit timing, verification processes) are not specified in the summary of the bill text provided.

Who/what is affected

Individuals identified as Resident Investors who receive or maintain tax decrees under the Puerto Rico Incentives Code.

The incentive program administration would be responsible for verifying annual donations and enforcing compliance.

Eligible 501(c)(3) organizations could benefit from increased philanthropy flows, depending on donation patterns of incentive recipients.

Procedural and timeline aspects

Status: Appears in Primera Lectura (First Reading) in the Puerto Rico House of Representatives on February 17, 2026.

Referenced to committees on February 17, 2026, indicating it will undergo committee review, discussion, and potential amendments.

The bill was formally filed (radicado) on February 13, 2026.

No specific effective date or transition provisions are provided in the summary; typically, such changes include an effective date and a grace period for compliance, which would be detailed in the full text.

Potential impacts and considerations

For Resident Investor decrees: Compliance burden increases with ongoing annual donation requirements; enforcement mechanisms and acceptable donation methods will determine administrative impact.

For nonprofit sector: Potentially more corporate/philanthropic giving from incentive beneficiaries, depending on the scale and clarity of the donation requirements.

For the fiscal incentive program: The change could alter the cost/benefit dynamics of attracting resident investors if the donation obligation is substantial or difficult to satisfy.

Considerations for stakeholders include defining the eligible donation amount, duration (per year), allowed categories of nonprofits, verification procedures, and consequences for non-compliance.

If you’d like, I can tailor this summary to highlight financial implications (e.g., estimated fiscal impact), draft potential questions for committee testimony, or compare this proposal to similar provisions in other jurisdictions.