Seeking to repopulate the urban centers

In search of being able to repopulate the urban centers of the Municipalities. The Governor of Puerto Rico converted House Bill 2172 into Act 182-2024, which amends Act 60-2019, known as the Puerto Rico Incentives Code, to establish new incentives for housing development.

The bill seeks to strengthen these areas that are mostly in deterioration. With these incentives, it is expected that housing development and capital investment can reactivate the economy in urban areas.

This could bring as a positive impact, the creation of jobs in the sector, new and varied business opportunities and improvements in roads, sidewalks or other public facilities that are found in them.

This type of incentive will be known as “Eligible Investment in Urban Centers” and includes state and municipal tax exemptions on real and personal property, among other available incentives that could be attractive and beneficial for the urban development of our municipalities through the development of housing.