Esta ley enmienda la Ley Núm. 120 de 31 de octubre de 1994, conocida como el "Código de Rentas Internas de Puerto Rico de 1994", para corregir errores técnicos en secciones relacionadas con deducciones por gastos de cuidado de niños, créditos por donaciones y exenciones en vehículos de motor para reservistas y rescatistas.
(Approved January 8, 2004)
To amend paragraph (2) of subsection (aa) of Section 1023; to redesignate Section 1040G as Section 1040H and to re-designate Section 2049 as Section 2048A of Act No. 120 of October 31, 1994, as amended, known as the "1994 Puerto Rico Internal Revenue Code," for the purpose of correcting certain technical errors introduced by Act No. 165 of July 22, 2003, Act No. 166 of July 24, 2003, and by Act No. 43 of January 3, 2003, respectively.
The Legislature of Puerto Rico recently approved several Bills that amend the provisions of the Puerto Rico Internal Revenue Code of 1994, as amended (Code); the present measure seeks to correct certain technical errors that in no way affect the substance of the previously approved acts.
Section 1.- Paragraph (2) of subsection (aa) of Section 1023 of Act No. 120 of October 31, 1994, as amended, is hereby amended to read as follows: "Section 1023.- Deductions of Gross Income When computing the net income, the following deductions shall be allowed:
(a) $\ldots$ (aa) Option of Fixed Deductions or Itemized Deductions (1) $\ldots$
(2) Itemized Deduction.- For the purposes of this subsection, the taxpayer may claim the following items as itemized deductions, in lieu of the optional fixed deduction: (A) Deduction for expenses incurred in child care.- In the case of an individual, a deduction shall be allowed for all expenses incurred in the care of children paid to a person that is not a dependent of the taxpayer, but only up to the limit and subject to the restrictions indicated below:
(i) ... (ii) $\ldots$ (B) ..." Section 2.- Section 1040G is hereby redesignated as Section 1040H of Act No. 120 of October 31, 1994, as amended, to read as follows: "Section 1040H.- Credit for Donation to the "Patronato del Palacio de Santa Catalina."
(a) ..."
Section 3.- Section 2049 is hereby redesignated as Section 2048A of Act No. 120 of October 31, 1994, as amended, to read as follows: "Section 2048A.- Exemption on Motor Vehicles Acquired by Puerto Rican Reserve Soldiers and Rescuers stationed in the United States of North America, who were activated as a result of the events of September 11, 2001. ..." Section 4.- Effectiveness.- This Act shall take effect immediately after its approval.
I hereby certify to the Secretary of State that the following Act No. 28 (H.B. 4012) of the $6^{ ext {th }}$ Session of the $14^{ ext {th }}$ Legislature of Puerto Rico:
AN ACT to amend paragraph (2) of subsection (aa) of Section 1023; to redesignate Section 1040G as Section 1040H and to re-designate Section 2049 as Section 2048A of Act No. 120 of October 31, 1994, as amended, known as the "1994 Puerto Rico Internal Revenue Code," for the purpose of correcting certain technical errors introduced by Act No. 165 of July 22, 2003, Act No. 166 of July 24, 2003, and by Act No. 43 of January 3, 2003, respectively, has been translated from Spanish to English and that the English version is correct.
In San Juan, Puerto Rico, today $4^{ ext {th }}$ of May of 2005.
Luis E. Fusté-Lacourt Director