Sunday, August 20, 2017

Puerto Rico governor pledges $20M for nonprofits amid crisis

By on August 10, 2017

SAN JUAN – Gov. Ricardo Rosselló Nevares enacted Thursday Senate Bill 555, authored by Senate President Thomas Rivera Schatz, that makes it more flexible for non-profit organizations to apply for legislative grants.

As announced by La Fortaleza, currently one of the requirements to apply for the donation is the valid certification of tax exemption, which sometimes takes months and even years to be issued. This measure allows the entity to request the assistance needed while the government processes the required certification.

The governor signed a law that seeks to boost the growth of cooperatives. (Courtesy)

In addition, the governor announced the allocation of $20 million to 573 entities such as Fondita de Jesús, Casa Protegida Julia de Burgos and SER de Puerto Rico, among others, after signing House Joint Resolution 200.

“These entities…make great contributions to the people of Puerto Rico. In times of fiscal challenges, my administration has ensured that these entities receive government support to serve the most vulnerable sectors of our population,” the governor said.

Rosselló also signed House Bill 58, which promotes the establishment and growth of cooperatives. The new law orders the Cooperative Development Commission to provide technical resources to carry out economic and feasibility studies for cooperatives seeking to establish themselves on the island.

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