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New Law Alert: Act 13-2025 Credit for Donations to the Foundation of the Palace of Santa Catalina



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Act 13-2015 was recently enacted to encourage private donations to support the preservation of the Palace of Santa Catalina, also known as "La Fortaleza." The law amends Section 1051.06 of the Internal Revenue Code for a New Puerto Rico to reinstate the credit for donations to the Foundation of the Palace of Santa Catalina. The Palace, built in 1533, is a historic building and the official residence of the Governor of Puerto Rico. It is recognized internationally and listed as a UNESCO World Heritage Site. Due to its age and exposure to tropical climate and atmospheric events, continuous maintenance and restoration are essential.


Key Provisions:

  1. Credit Amount: Donors will receive a credit equal to 100% of the donated amount during the tax year.

  2. Credit vs. Deduction: This credit replaces the deductions for donations provided in Sections 1033.10 and 1033.15(a)(3).

  3. Credit Limit: The total credits granted cannot exceed $2,500,000 in any tax year.

  4. Certification: Donors must submit a certification from the Foundation with their tax return to claim the credit.


Effective Date: The law takes effect immediately upon approval.


Disclaimer: This summary is provided for informational purposes only and does not constitute legal advice. For detailed information and guidance, please refer to the official legislative documents.


This summary is part of the Taxonomía Boricua blog, dedicated to providing insights and updates on Puerto Rican laws and regulations.

 
 
 

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