PRIA Logo™
Puerto RicoPS 054320th Legislative Assembly (2025-2028)SenateWALLET

Para adoptar la "Ley Para la Promoción de Residencias de Alto Impacto Económico", mediante la creación de un nuevo marco legal especial que agilice la inversión, así como el desarrollo, venta y financiamiento de un nuevo mercado de residencias con alto impacto económico; y para otros fines relacionados.

Sponsored By: Thomas Rivera Schatz (PNP)

Signed by Governor

Your PRIA Score

Score Hidden

Personalized for You

How does this bill affect your finances?

Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.

Free to start

Bill Overview

Analyzed Economic Effects

6 provisions identified: 3 benefits, 0 costs, 3 mixed.

Your deposit is safer under this law

Before any reservation or sale, the developer must sign a Special Deposit Account Agreement with an authorized bank. All buyer deposits must be put in that account within 10 working days and kept separate from operating funds. DACO can require a fidelity bond to cover money held in escrow. The developer can use deposit money only for that named project and only after filing a bond in an amount set by DACO. If DACO or a court finds fraud or other banned practices, buyers get their deposits back even if the contract says otherwise. The law lists banned practices like false ads, taking deposits without permits, or breaking contracts.

Bond cap for construction defect repairs

High-impact homes must carry a bond or insurance to guarantee fixing construction defects. The bond can be no more than 10% of the unit’s sale price. For example, on a $200,000 home the maximum bond is $20,000.

Who this high-impact housing law covers

A home counts as “high-impact” when the first-sale price is above the FHA limit for that town. Those first sales follow this new law instead of Law 130. The law covers projects not yet started when it was approved, and units under construction that were not yet under option or sale contract. A developer can elect to exclude units from Law 130 by telling DACO within 30 days of filing the building permit and by sending a copy of its Urbanizador license application. When excluded, most terms follow the private contract, while DACO keeps oversight under this law.

License and faster approvals for developers

You must get a nontransferable Urbanizador license before starting a high-impact housing project. Show the license at your office and link it online. File renewals at least 60 days before they expire, and tell DACO within 30 days after any change of control. Apply under oath, submit the required owner and project documents, and pay a $1,000 certified check or money order. If DACO does not reject a complete filing within 30 working days, it is accepted and the license must be issued within 10 working days. DACO must deny or not renew if the filing breaks rules, shows high noncompliance risk, or there was disqualifying conduct within the last five years.

Agencies must issue rules in 60 days

DACO and the Department of Economic Development must issue the rules to run this law within 60 days after approval. The law takes effect immediately on approval. The agencies can also issue joint standards that guide what goes in license applications and how to review them.

Ads filed and records kept in Puerto Rico

All ads for these projects must show the developer’s full name, street address, and phone number. Developers must file copies of all ads with DACO before using them. Every developer must keep project books and files in an office in Puerto Rico and give DACO the address. Files must include plans, permits, change orders, cost records, contracts, deeds, bonds, and escrow records.

Sponsors & Cosponsors

Sponsor

  • Thomas Rivera Schatz

    PNP • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 72 • No: 1

House vote • 6/25/2025

Aprobado por Cámara en Votación Final

Yes: 51 • No: 1

Senate vote • 6/16/2025

Aprobado por el Senado en Votación Final

Yes: 21 • No: 0 • Other: 4

Actions Timeline

  1. Ley Núm. 101 — Firmada por la Gobernadora

    8/1/2025Senate

  2. Enviado a la Gobernadora

    7/2/2025Senate

  3. Firmado por el Presidente de la Cámara

    6/30/2025House

  4. Firmado por el Presidente del Senado

    6/30/2025Senate

  5. Se dispone que sea enrolado

    6/25/2025Senate

  6. Aprobado por Cámara en Votación Final

    6/25/2025House

  7. Aprobado sin enmiendas

    6/25/2025Senate

  8. En el Calendario de Ordenes Especiales de la Cámara

    6/25/2025House

  9. Remitido a Comisión de Calendarios de la Cámara

    6/25/2025House

  10. 1er Informe Comisión rendido sin enmiendas

    6/25/2025Senate

  11. Reunión Ejecutiva: Oficina de la Comisión

    6/25/2025Senate

  12. Relevado de Comisión(es)

    6/25/2025Senate

  13. Referido a Comisión(es)

    6/23/2025Senate

  14. Aparece en Primera Lectura de la Cámara

    6/23/2025House

  15. Texto de Aprobación Final enviado a la Cámara

    6/16/2025House

  16. Aprobado por el Senado en Votación Final

    6/16/2025Senate

  17. Aprobado con enmiendas del informe

    6/16/2025Senate

  18. En el Calendario de Ordenes Especiales del Senado

    6/16/2025Senate

  19. Remitido a la Comisión de Reglas y Calendario del Senado

    6/13/2025Senate

  20. Entirillado del Informe

    6/13/2025Senate

  21. 1er Informe Comisión rendido con enmiendas

    6/13/2025Senate

  22. Referido a Comisión(es)

    4/10/2025Senate

  23. Aparece en Primera Lectura del Senado

    4/10/2025Senate

  24. Radicado

    4/10/2025Senate

Bill Text

  • Se dispone que sea enrolado

    6/25/2025

    View

  • Texto de Aprobación Final enviado a la Cámara

    6/16/2025

    View

  • Radicado

    4/10/2025

    View

  • Radicado (Senado mirror)

    4/10/2025

    PDF

Related Bills

Back to State Legislation