The Fiscal Oversight Board (JSF) urged Governor Jenniffer González not to sign into law House Bill 272 (PC 272), which would extend Puerto Rico's IVU (sales and use tax)-free periods for school supplies from two to seven days each in January and July, totaling 14 days annually instead of the current four. JSF Executive Director Robert Mujica, in a July 13 letter to González, said the change would reduce General Fund and municipal revenues by about $3.4 million annually and roughly $16.7 million over the next five fiscal years, without identifying offsetting savings or recurring revenue. Mujica called the bill's passage "problematic," noting that the central government, Legislative Assembly, and JSF had worked together in recent weeks on fiscal matters.
La Fortaleza did not immediately respond to requests for comment. The bill's stated rationale is that the current period is too limited for working families who must schedule purchases around job commitments. The bill was sent to La Fortaleza on July 6.
Meanwhile, the second scheduled tax-free shopping period of the year, per the Treasury Department, runs from Friday, July 17 to Saturday, July 18.