2025 Laws of Puerto Rico
Title 2 - Legislature (Chs. 1 — 46)
Chapter 40 - Legislative Funds for Community Impact Act (§§ 921 — 921k)
§ 921. Definitions

For the purposes of this chapter, the following terms and phrases shall have the meanings stated below:

(a) Government Development Bank for Puerto Rico, hereinafter the GDB.— Means the Government Development Bank for Puerto Rico, created by Act No. 252 of May 13, 1942, as amended, which shall be the banking institution in charge of disbursing the funds awarded by the Legislative Assembly to NPOs.(b) Special Joint Committee on Legislative Funds for Community Impact or Committee.— Means the structure created by virtue of §§ 931 et seq. of this title, within the Legislative Assembly, responsible for receiving proposals and evaluating the eligibility requirements of the Legislative Fund for Community Impact; it shall also be responsible for certifying and ensuring compliance with the grant agreement by overseeing and providing recipient organizations with administrative and programmatic support.(c) Legislative Fund for Community Impact or Fund.— Means the non-recurring funds appropriated annually by Joint Resolution of the Legislative Assembly of Puerto Rico to recipient organizations that, under the monitoring and oversight of the Committee, develop social, economic or community impact projects or programs consistent with the objectives of this chapter.(d) Legislative funds.— Means the granting of state public funds expressly earmarked and authorized by the Legislative Assembly of Puerto Rico.(e) Administrative costs.— Means any costs incurred by NPOs to defray daily operations, such as administrative personnel, payment of rent, utilities, and any other cost not directly related to the rendering of services.(f) Recipient organization.— Means any NPO to which funds are granted by Joint Resolution pursuant to this chapter.(g) Nonprofit Organization or NPO.— Means any entity incorporated in the Department of State of the Commonwealth of Puerto Rico that holds a tax exemption from the Department of the Treasury and provides a direct service for social welfare and community development.(h) Strategic plan.— Means an official document in which a NPO defines its short- and long-term goals and objectives as well as the strategies and actions to be taken to achieve them.(i) Operating budget.— Means a document that outlines in dollar amounts the plans for a specific period, including programmatic areas, projects, services, and administration.(j) Community program or service.— Means any project, activity, or event that incorporates a direct assistance component for social welfare and community development in Puerto Rico.(k) Proposal.— Means a written document describing the objectives, a statement of need, the work plan, and an itemized budget of a project or program with a social, economic, or community impact for which the grant is requested.(l) Electronic filing.— Means the electronic process through which NPOs submit a grant application and recipient organizations file reports and any other documentation required by the Committee.(m) Grant.— Means the total funding awarded to an NPO under this chapter to carry out a project or program with social, economic, or community impact consistent with the objectives of this chapter.

History

—Feb. 26, 2015, No. 20 § 3; Dec. 15, 2015, No. 219, § 1.