House approves three‑bill fiscal package to align local tax code with federal rules and raise IRA limits

The Puerto Rico House approved a three‑bill package on Sept. 11, 2025 — Proyecto de la Cámara 499, 502 and 503 — that the administration presented as part of its fiscal platform to harmonize local tax provisions with the U.S. Internal Revenue Code and to increase permitted contributions to certain retirement and education savings accounts.

Charboniel Chinea (committee chair) summarized the package on the floor, saying the measures mostly "atemperan el código de rentas internas federal con Puerto Rico." He described the bills as technical changes that would increase contribution limits: the measure to raise education IRA (one bill) increases the limit from $500 to $1,000; another raises the IRA/retirement contribution limit from $5,000 to $7,000. The package also clarifies the tax treatment for gains on the sale of a principal residence and confirms residency and use requirements for the principal‑residence incentive.

Committee analysis included estimated fiscal impacts. The presenter cited an estimated aggregate impact in the low millions for one bill (an estimated range described as between approximately $733,000 and $1,000,000) and reported an estimated fiscal effect for Proyecto de la Cámara 503 in fiscal year 2026 of about $9.1 million as presented to the committee.

The House approved the three measures on the final voting calendar; the clerk recorded approvals with the following tallies: Proyecto de la Cámara 503 — 46 yes, 0 no, 1 abstention; Proyecto de la Cámara 499 — 46 yes, 0 no, 1 abstention; Proyecto de la Cámara 502 — 47 yes, 0 no.

Speakers: Committee chair Charboniel Chinea and members of the Commission of Hacienda presented and argued the package; the bills were approved on the floor as part of the calendar.

Next steps: Each measure will proceed to the Senate for consideration.