To amend Article 13 of Law 209-2003, as amended, known as the “Puerto Rico Institute of Statistics Act”, for the purpose of ordering all governmental entities of the Government of Puerto Rico, municipalities and public corporations to make all their financial information available to citizens on the official website of the Institute of Statistics, in compliance with the public policy of transparency and openness of information; validity and; for other related purposes.

Date: March 18, 2015

To create the “Law of Transformation to the Tax System of the Commonwealth of Puerto Rico”, also known as the Internal Revenue Code of 2015, for the purpose of establishing a tax system into a simpler, fairer, more effective, broad-based one that is easy to oversee and promotes economic development; to significantly reduce income contribution rates to individuals and corporations; to eliminate sales and use tax; to establish a value added tax; to establish transitional provisions for repeal of Act No. 1-2011, as amended, known as the Puerto Rico Internal Revenue Code of 2011; for other related purposes.

To add a new Article 115 and renumber the current Articles 115 and 116 as Articles 116 and 117 respectively, of Act No. 187-2015, as amended, known as the “Interagency Validation Portal Act for the Granting of Incentives for Economic Development of Puerto Rico”, in order to postpone the effectiveness of the Act and to relieve any agency, agency or instrument of the Government of Puerto Rico, municipality or public corporation, that is considered an Issuing-Certifying Agency or Receiving-Granting Agency, of comply with Articles 6 to 10 and Articles 14 to 112 of the Act in everything related to Certification of Compliance, retroactively from November 17, 2015 to January 1, 2018; to provide that any Issuing-Certifying Agency or Receiving-Granting Agency must continue to accept, receive, process, process and evaluate requests for incentives or tax benefits to