Borinquen MadeDated notes on Puerto Rico
Puerto Rico news: economy and politics
This desk gathers dated notes on the economy and politics of Puerto Rico, taken from named outlets. It is not the magazine's historical archive. Each note cites its outlet. It is not original reporting.
A dated, sourced desk. Each note names its outlet. It is not original reporting. Figures are those the source published. If sources disagree, both layers are left in place.
Comptroller: Tourism formalized 2,287 contracts for $346.2 million (CP-07-15)
7 Mar 2007. Adverse opinion; retroactive contracts. Finding ≠ conviction.
Comptroller CP-07-12: AFICA / José Miguel Agrelot Coliseum — bidding and contracts
Contract $122.3 million; credit line up to $230 million; disbursements ~$220 million; adverse opinion; findings 1–4.
Bread and cookies do not pay IVU
House formalizes IVU exemption for bread/cookies; redistributes AFI resolutions after line-item veto ($42.6 million of ~$100 million).
DOJ: Vázquez-Botet and Morell sentenced to 5 years for Superaqueduct extortion
30 Jan 2007. Project $372 million; guilty Nov 2006 → sentence.
CUD evaluates challenging the tax
11 Nov 2006. CUD evaluates IVU challenge before Nov 15; Ombudsman: Hacienda regulation illegal (Act 454). Cousin 667.
DOJ: jury finds Vázquez-Botet and Morell-Corrada guilty — Superaqueduct
Project ~$372 million; demanded >$2 million; Hobbs Act + mail/wire fraud; sentencing set Jan 18, 2007. Cousin →655.
DOJ: Guardiola Ramírez — 33-month sentence for obstruction (Tricon kickbacks)
33-month sentence + 120h service + 3 years supervised release; Gate/Colón >$1 million contracts; indicted Jan / convicted Mar 2006.
Act 117-2006: Tax Justice and Sales and Use Tax (IVU)
4 Jul 2006. Replaces general excise with IVU; individual rates; work credit (local EITC); deficit Fund / FIA (Act 91). Doc = peg. Cousin →665.
DOJ/EPA: PRASA plea on 15 Clean Water Act felonies; $9 million fine
22 Jun 2006. CIP ~$1.7 billion; plea ≠ final sentence.
GAO-06-541: fiscal relations and phaseout of the possessions tax credit (Sec. 936)
19 May 2006. Senate Finance report: possessions credit ends 2006; possessions value added ~−2/3 (1997–2002); PR GNP per capita ~$14,000 vs U.S. ~$41,000 (2005). No recommendations.
Act 91-2006: Urgent Interest Fund / Corporation (COFINA) created
13 May 2006: responds to extraconstitutional debt and FY2005–06 crisis (shutdown/layoffs); doc = peg. Cousin →667 (Act 117 IVU).
The solution fades
1 May 2006. Shutdown: 45 agencies + 15 partial; ~95,762 temporarily out of work; $532 million loan / 5.9% IVU failed in House.
Comptroller CP-06-18: 9-1-1 Service Governing Board
Revenues $47.3 million / expenses $25.1 million (FY 01–05); adverse opinion; findings 1–8 principal + 9–11 secondary.
Comptroller: CFSE paid $445K to a real-estate consultant (CP-06-15)
23 Mar 2006. Purchases $133.0 million; adverse opinion. Finding ≠ conviction.
Act 139-2005: TRANs cap to 18% or $1,500 million
Tax and Revenue Anticipation Notes: $800 million cap → 18% prior-year GF net revenues or $1,500 million (whichever less); Hacienda liquidity.
Comptroller: AFICA issued $5.8 billion in bonds; contract findings (CP-06-05)
16 Sep 2005. Revenues $10.3 million FY 00–04; 216 issues. Finding ≠ conviction.
Comptroller CP-06-01: AAA — EPA/Health fines and deficient plants
EPA $1.225 million (CWA 2004) + Health $2.576 million; FY00–04 revenues $2,561 million / expenses $2,604 million; adverse opinion; findings 1–4 principal.
Act 42-2005: additional annual fees on luxury automobiles
1 Aug 2005. Defines luxury ≥$40,000 private use; graduated fees; effective subject to FY2005–06 budget JR. Authorization ≠ valid collection after veto.
Act 43-2005: authorizes Commonwealth bonds up to $575 million (2006 public improvements)
2006 Public Improvement Bonds ≤$575 million; anticipation notes; full faith & credit; authorization ≠ disbursement.
OCPR CP-05-29: Agricultural Extension (RUM) — controls and contracts
20 Jun 2005. SEA RUM: FY00–04 revenues $85.1 million / expenses $86.4 million; accum. deficit $1.29 million; adverse opinion; findings 1–4.