Esta ley enmienda la Ley Núm. 99 de 23 de abril de 2004 para extender hasta el 30 de junio de 2005 la fecha límite para el pago anticipado de un impuesto del 10% sobre las cantidades acumuladas y no distribuidas en contratos de anualidades variables elegibles, aplicable a individuos que intercambien o transfieran indirectamente dichos contratos.
(Approved September 22, 2004)
To amend subsection
(a) of Section 6 of Act No. 99 of April 23, 2004, to extend its effective date until June 30, 2005.
Section 1.-Subsection
(a) of Section 6 of Act No. 99 of April 23, 2004, is hereby amended to read as follows: "Section 1012C.- Option to Pay in Advance the Taxes on Accumulated and Nondistributed Amounts under a Variable Annuity Contract.
(a) Any individual who is the owner or beneficiary of a life insurance, endowment or annuity contract and who exchanges on or before December 31, 2004, said Eligible Variable Annuity Contract or who makes an indirect transfer in exchange for an Eligible Variable Annuity Contract pursuant to Section 1112(b)(9) of this Act, may opt to pay in advance, in lieu of any other tax, a tax of ten (10) percent on the entirety of the amount accumulated and not distributed in the contract assigned or cancelled, which if distributed or paid would have been subject to income tax. The payment of the tax provided for in this subsection shall be remitted not later than June 30, 2005, by filling out the form that the Secretary provides for these purposes.
(b) $\ldots$
(c) ..." Section 2.- This Act shall take effect immediately after its approval.
I hereby certify to the Secretary of State that the following Act No. 411 (H.B. 4878) of the $7^{ ext {th }}$ Session of the $14^{ ext {th }}$ Legislature of Puerto Rico:
AN ACT to amend subsection
(a) of Section 6 of Act No. 99 of April 23, 2004, to extend its effective date until June 30, 2005, has been translated from Spanish to English and that the English version is correct.
In San Juan, Puerto Rico, today $11^{ ext {th }}$ of May of 2007.
Francisco J. Domenech Director