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RCC 234

Para eximir del pago de toda clase de cargos por concepto de sellos de rentas internas y comprobantes requeridos por ley para el otorgamiento de instrumentos públicos y su presentación e inscripción en cualquier Registro de la Propiedad del Gobierno de Puerto Rico con relación al financiamiento y constitución de hipoteca, que será de aplicación a jóvenes entre las edades de veintiuno (21) a treinta y cinco (35) años que compren su primer hogar, en toda compraventa efectuada luego del 31 de diciembre de 2025, pero en o antes del 31 de diciembre de 2030; establecer sus excepciones; ordenar al Colegio Notarial de Puerto Rico a informar a todos sus miembros sobre las disposiciones de esta Resolución Conjunta; ordenar al Departamento de Hacienda a que adopte las medidas necesarias para el cumplimiento de lo aquí establecido; y para otros fines relacionados.

2025-2028 Session

Exempts young first-time homebuyers (21–35) from documentary stamp taxes on mortgage instruments for 2026–2030, with admin duties to inform and implement.

Referido a Comisión(es)
0
WeVote Research Nonpartisan
Bill Summary · RCC 234

RCC 234 — Summary

Overview

RCC 234 is a joint resolution proposed in Puerto Rico that would temporarily exempt certain documentary stamp taxes and related fees from mortgage-related instruments. The exemption applies to eligible young buyers who are purchasing their first home, with specific eligibility rules and a defined time window. The measure also assigns implementation and informational duties to the Notarial College of Puerto Rico and the Department of the Treasury.

Main purpose and intent

  • Facilitate homeownership for young adults by removing costs associated with documentation and stamping of mortgage instruments.
  • Provide a targeted, time-limited incentive to encourage first-time home purchases.
  • Establish procedural requirements to inform professionals and ensure compliance by relevant agencies.

Key provisions and changes

  • Exemption: Eliminate the payment of all charges for internal revenue stamps and required receipts for:
    • The granting of public instruments
    • Their presentation and inscription in any Puerto Rico Property Registry
    • In relation to financing and the creation (constitución) of a mortgage
  • Eligibility window: Applies to purchases made after December 31, 2025, and on or before December 31, 2030.
  • Beneficiaries: Youth aged 21 to 35 who are buying their first home.
  • Exceptions: The measure would establish specified exceptions (not detailed in available text; to be defined in the resolution).
  • Administrative duties:
    • Notarial College of Puerto Rico: Order to inform all its members about the provisions of this Joint Resolution.
    • Department of Treasury (Hacienda): Order to take the necessary measures to ensure compliance with the resolution.
  • Scope: Applies to all relevant mortgage-related instruments and their registration in the Property Registry of Puerto Rico.
  • Related purposes: Includes provisions for related or ancillary matters.

Beneficiaries and affected parties

  • Primary beneficiaries: Young adults aged 21–35 purchasing their first home within the specified period.
  • Affected entities: Notarial professionals (via the Notarial College of Puerto Rico) and government processes managed by Hacienda, as well as offices involved in the Property Registry and the stamping/recording of mortgage documents.

Timelines and procedural status

  • Introduced: October 29, 2025
  • Legislative actions:
    • First Reading: October 30, 2025
    • Referred to Commission(s): October 30, 2025
    • Filed/Radicado: October 29, 2025
  • Status: Referido a Comisión(es)

Potential fiscal and administrative impact

  • Fiscal: Temporary loss of documentary stamp tax revenue tied to mortgage-related instruments during the eligibility window; potential indirect effects on registries and notarial workloads.
  • Administrative: Requires coordination between the Notarial College, Hacienda, and the Property Registry to implement exemptions and communicate requirements.

Next steps

  • Committees will review for fiscal impact, scope, and any required implementing rules.
  • Clarification on the defined exceptions and exact administrative processes would be expected in committee discussions or amended text.

This summary captures the bill’s intent, scope, key provisions, and the anticipated administrative actions, based on the available text and actions.

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

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