The Corporation receives half of the state government portion of the Puerto Rico Sales and Use Tax (SUT) (2.75%, or half of the out of the state government’s portion of 6%) and is authorized to use such portion pay or finance, in whole or in part, or fund:
certain debt obligations of the government of Puerto Rico payable solely from government budgetary appropriations and outstanding as of June 30, 2006;
As of May 2011, COFINA had issued over $14.4 billion in bonds pursuant to its Enabling Act, as amended, of which $13.4 billion were outstanding.[3] As an independent corporation, COFINA has the same powers, rights and faculties as the Puerto Rico Government Development Bank under its Constitutional Charter.[3]
^ abc"Government Development Bank for Puerto Rico".
April 28, 2023
cofina, puerto, rico, urgent, interest, fund, corporation, also, known, puerto, rico, sales, financing, corporation, spanish, corporación, fondo, interés, apremiante, government, owned, corporation, puerto, rico, that, issues, government, bonds, uses, other, f. The Puerto Rico Urgent Interest Fund Corporation also known as the Puerto Rico Sales Tax Financing Corporation Spanish Corporacion del Fondo de Interes Apremiante COFINA is a government owned corporation of Puerto Rico that issues government bonds and uses other financing mechanisms to pay and refinance the public debt of Puerto Rico The Corporation is a subsidiary of the Government Development Bank and was created by Law No 291 of 2006 Bonds issued by COFINA are called Puerto Rico Sales Tax Revenue Bonds 1 2 3 Puerto Rico Urgent Interest Fund CorporationHeadquartersGuaynabo Puerto RicoEstablishedDecember 26 2006 16 years ago 2006 12 26 Executive DirectorJose R Otero FreiriaCurrencyUSDBackground EditThe Corporation receives half of the state government portion of the Puerto Rico Sales and Use Tax SUT 2 75 or half of the out of the state government s portion of 6 and is authorized to use such portion pay or finance in whole or in part or fund certain debt obligations of the government of Puerto Rico payable solely from government budgetary appropriations and outstanding as of June 30 2006 the debt of the Department of Treasury with the Government Development Bank and othersAs of May 2011 COFINA had issued over 14 4 billion in bonds pursuant to its Enabling Act as amended of which 13 4 billion were outstanding 3 As an independent corporation COFINA has the same powers rights and faculties as the Puerto Rico Government Development Bank under its Constitutional Charter 3 Components of the Puerto Rico Sales and Use Tax showing which part belongs to COFINA References Edit Law No 91 of 2006 PDF Law No 291 of 2006 PDF a b c Government Development Bank for Puerto Rico Retrieved from https en wikipedia org w index php title COFINA amp oldid 999100608, wikipedia, wiki, book, books, library,
