Para ordenar a las comisiones de Asuntos Municipales; y de Vivienda y Desarrollo Urbano de la Cámara de Representantes de Puerto Rico, realizar una investigación para determinar cuántas hipotecas legales tácitas sobre bienes inmuebles hay constituidas en el Registro de la Propiedad, a favor del Centro de Recaudación de Ingresos Municipales (CRIM), de Puerto Rico o de cualquier otra agencia o dependencia del Gobierno, que estén en proceso de embargo, ejecución o cancelación; y determinar la viabilidad de hacer un inventario de estos bienes inmuebles, que pudiesen ser adquiridos y desarrollados como vivienda de interés social para personas sin hogar; y para otros fines relacionados.

2025-2028 Session

Puerto Rico committees must investigate government-held mortgaged properties in foreclosure to determine feasibility of converting them into affordable housing for homeless populations.

Referido a Comisión(es)

Legislative bill overview

Bill RC 308 directs the Municipal Affairs and Housing and Urban Development Committees of Puerto Rico's House of Representatives to investigate the number of tacit legal mortgages held by CRIM (municipal tax collection agency), the Puerto Rico government, and other government agencies on real properties registered in the Property Registry that are undergoing foreclosure, execution, or cancellation. The bill also mandates determining the feasibility of creating an inventory of these properties for potential acquisition and development as affordable housing for homeless populations.

Why is this important

Puerto Rico faces significant homelessness and housing affordability crises, while government agencies hold substantial foreclosed or mortgaged properties that currently remain underutilized. This investigation could identify a substantial resource—publicly-held real estate—that might be redirected toward social housing solutions rather than remaining in bureaucratic limbo or sold at auction. The findings could inform policy on repurposing government assets for public welfare purposes.

Potential points of contention

Property rights and creditor interests: Determining how to redirect properties with active liens or pending foreclosures raises questions about prioritizing homeless housing over creditors' legal claims and existing municipal revenue collection mechanisms

Implementation costs and feasibility: Converting and maintaining foreclosed properties as social housing requires significant government investment; the bill does not address funding mechanisms or long-term operational sustainability

Property condition and location: Many foreclosed properties may be in poor condition, located in economically distressed areas, or otherwise unsuitable for housing development without substantial remediation costs