Take a read of the most recent crisis: https://taxfoundation.org/tax-policy-helped-create-puerto-ri...
United States General Accounting Office Report to the Chairman, Committee on Finance, TAX POLICY Puerto Rico and the Section 936 Tax Credit http://www.gao.gov/assets/220/218131.pdf
Instead of using those funds to improve education, technical training, create buildings/projects that made sense in the distant future where funds/companies would not be so incentivized to stay here. They went and started building pointless infrastructure projects with arguably benefits or ROI almost always with some sort of controversy on the project builder/developer intentions.
Building statues, pointless sports venues, really expensive projects with zero to marginal benefits to society/Puerto Rico's economy long term.
[] http://www.adweek.com/tv-video/how-atlanta-became-the-worlds...
Hmm interesting.
Unless they changed it this would forbid founders that are trying to make a company in Puerto Rico able to qualify.
"Puerto Rico Senate Bill 864 increases the potential impact of Act 22 by expanding who qualifies for the tax break. Prior to this legislation, Act 22 was only applicable to new migrants to Puerto Rico who had not been residents for the 15 year period before the Act went into effect in January 2012. That period has now been reduced from 15 to 6 years."
https://www.forbes.com/sites/janetnovack/2015/01/27/puerto-r...
Still feels odd trying to help create startups but excluding people that live here. I mean the original purpose was to bring new companies, "expats" to puerto rico which IMO is good at accomplishing.
