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In the spring of 2024, FOMB sent two letters to the Governor of Puerto Rico and the legislature threatening to overturn a solar net energy metering law, known as Act 10. [ 17 ] [ 18 ] Act 10 was unanimously passed by the legislature in 2023, and signed into law by Governor Pierluisi in January 2024, and it extended net energy metering for new ...
Taxation in Puerto Rico consists of taxes paid to the United States federal government and taxes paid to the Government of the Commonwealth of Puerto Rico.Payment of taxes to the federal government, both personal and corporate, is done through the federal Internal Revenue Service (IRS), while payment of taxes to the Commonwealth government is done through the Puerto Rico Department of Treasury ...
March 10 – 2024 Puerto Rico Republican presidential primary [2] April 3 – The United States Army Corps of Engineers begins dredging the San Juan Bay to open space for a new natural gas terminal that is expected to add $400 million to the local economy. [3] 5 May – Rains occur in Puerto Rico, where planes are landed in San Juan to reroute ...
The Puerto Rico Department of Treasury (Spanish: Departamento de Hacienda de Puerto Rico) is the executive department of the government of Puerto Rico responsible for the treasury of the U.S. Commonwealth of Puerto Rico. It is one of the constitutionally-created executive departments and is headed by a Secretary. [1]
A joint venture between Quanta Services (USA) and ATCO (Canada), LUMA was created to manage Puerto Rico’s power grid. [1] [2] The contract under which LUMA Energy operates the power grid in Puerto Rico was signed after a bid in 2020. [7] In the bid, five different companies participated and only four submitted business proposals. [2]
The economy of Puerto Rico is classified as a high-income economy by the World Bank and as the most competitive economy in Latin America by the World Economic Forum. [14] [15] The main drivers of Puerto Rico's economy are manufacturing, which primarily includes pharmaceuticals, textiles, petrochemicals, and electronics; followed by the service industry, notably finance, insurance, real estate ...
On November 5, 2024, Puerto Rico held a non-binding referendum alongside the 2024 Puerto Rican general election and the 2024 United States elections. This was the seventh referendum held on the long-standing, ongoing debate about the political status of Puerto Rico, with the previous one having taken place in 2020.
The Office of the Commissioner of Financial Institutions of Puerto Rico—in Spanish: Oficina del Comisionado de Instituciones Financieras (OCIF)—is an office of the Department of Treasury of Puerto Rico that supervises and regulates Puerto Rico's financial sector to ensure its safety and soundness, as well as to oversee a strict adherence to all applicable laws and regulations.