Puerto RicoPC 015720th Legislative Assembly (2025-2028)HouseWALLET

Para derogar la Ley Núm. 402 de 12 de mayo de 1952, según enmendada, mediante la cual se autorizó al Secretario del Departamento de Hacienda, eximir del pago de contribuciones sobre ingresos a las Asociaciones Cooperativas de Crédito para Producción, creadas y organizadas de acuerdo con la Ley de Crédito Agrícola del año 1933 (Farrn Credit Act of 1933); y para otros fines relacionados

Sponsored By: Ángel Morey Noble (PNP)

Signed by Governor

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 1 costs, 0 mixed.

Farm credit co-ops lose tax breaks

The law repeals Law 402 of May 12, 1952. Production credit cooperatives formed under the 1933 Farm Credit Act no longer have a Puerto Rico income tax exemption. Property tax exemptions tied to that old law also end, including office furniture and official vehicles, up to five cuerdas of land, and buildings or machinery up to $50,000. These cooperatives now follow the regular Puerto Rico tax rules. The repeal takes effect the day the law is approved.

Sponsors & Cosponsors

Sponsor

  • Ángel Morey Noble

    PNP • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 75 • No: 1

Senate vote • 11/6/2025

Aprobado por el Senado en Votación Final

Yes: 27 • No: 1

House vote • 5/29/2025

Aprobado por Cámara en Votación Final

Yes: 48 • No: 0

Bill Text

  • Se dispone que sea enrolado

    11/18/2025

  • Texto de Aprobación Final enviado al Senado

    6/10/2025

  • Radicado

    1/8/2025

Related Bills

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