JD Supra Puerto Rico

Law Firm

Latest documents

• Littler Global Guide - Puerto Rico - Q4 2019

  Employers in Puerto Rico Precluded from Using Credit Reports or Credit History for Employment Actions -
 
 New Legislation Enacted -
 
 On October 8, 2019, the Governor of Puerto Rico signed into law Act No. 150 of October 8, 2019, which prohibits employers from, among other actions, verifying or investigating credit history or credit reports concerning current employees or employment candidates, or from obtaining or ordering such reports from a credit agency.

• Déjà vu: Puerto Rico Plan Limits for 2020 Largely Track U.S. Plan Limits

  Seyfarth Synopsis: The Puerto Rico Department of the Treasury (“PR Treasury”) recently announced the limits that apply to Puerto Rico qualified retirement plans in 2020. These limits may look familiar because the PR Code incorporates many of the applicable limits under the U.S. Code by reference.

• Federal Court Dismisses Policyholder’s Third-Party Action Against Reinsurers

  A Puerto Rico district court dismissed a third-party action by defendant-policyholder Puma Energy Caribe LLC against the reinsurers of an insurance policy issued by plaintiff Integrand Assurance Co. Puma claimed that the reinsurers breached the reinsurance agreements with Integrand, prejudiced Puma’s rights as a third-party beneficiary of those agreements, and negligently handled reinsurance claims that Integrand submitted in connection with a claim Puma had made under the Integrand policy.

• Puerto Rico Working Women’s Bill of Rights Includes New Posting Requirement

  On January 3, 2020, Puerto Rico Governor Wanda Vázquez signed Law No. 9-2020 (“Act 9” or “the Act”), known as the Working Women’s Bill of Rights. While the Act expressly states that it was enacted for informational purposes and does not create any new substantive rights, the Act centralizes a non-exhaustive list of previously established rights for working women in the public and private sectors.

• Employees’ Compensation Following the Earthquake Situation in Puerto Rico

  Since late December 2019, a series of earthquakes and aftershocks have struck the southwest region of Puerto Rico, causing many structures to collapse or to sustain severe structural damage. Intermittent electrical service, particularly in the southwest region, has also occurred.

• Puerto Rico Department of the Treasury Announces 2020 Limits on Qualified Retirement Plans

  On December 28, 2019, the Puerto Rico Department of the Treasury issued Internal Revenue Circular Letter No. 19-17 (CL IR 19-17) announcing the applicable limits for Puerto Rico qualified retirement plans for 2020.

• Puerto Rico Enacts Restrictions on Use of Credit History in Employment

  Seyfarth Synopsis: With limited exception, Puerto Rico has joined the growing list of states that preclude an employer or prospective employer from procuring an employee’s or applicant’s credit history and/or taking adverse employment action based on credit history.

• New Puerto Rico Law Limits Employers’ Use Of Credit Reports In Employment Decisions

  Puerto Rico has enacted legislation to limit the use of credit reports in making employment decisions.
 
 An “Act to Protect Employee’s Credit Information” (PR Act. No. 150 of October 8, 2019) prohibits employers from refusing to hire, dismissing, or otherwise discriminating against an employee or applicant because of the information in a credit report or on account of the employee’s credit history.

• New Legislation Precludes Employers in Puerto Rico from Using Credit Reports or Credit History to Take Employment Actions

  On October 8, 2019, the Governor of Puerto Rico signed into law Act No. 150 of October 8, 2019 (“Act 150” or “the Act”), which prohibits employers from, among other actions, verifying or investigating credit history or credit reports concerning current employees or employment candidates, or from obtaining or ordering such reports from a credit agency.

• Littler Global Guide - Puerto Rico - Q3 2019

  Act No. 83 of August 1, 2019, (Act 83) provides up to 15 days of unpaid leave, and/or reasonable accommodation, for employees who are themselves victims of abusive situations, or have a close family member who is.

Featured documents

• PBGC Withdraws Two Territorial Coverage Opinion Letters Impacting Puerto Rican Plans

  The status of PBGC coverage for Puerto Rico defined benefit plans is one that has been the subject of review and analysis by the PBGC for quite some time. Most recently, on April 19, 2013, the PBGC withdrew two older opinion letters (Opinion Letters 77-172 and 85-19), which addressed whether...

• The Boricua Option – The Taxation of Incentive Stock Options (ISOs) as a Puerto Rican Resident - Another Good Reason to Move to La Isla del Encanto

  Overview -
 
 
 
 Many professional living and working in Silicon Valley over the last twenty years have become very wealthy as a result of their participation in company stock options plans – qualified and non-qualified. While these high tech professionals have made a lot of money, ...

• Puerto Rico Bonds: Legislation and Litigation

  For municipal bond investors and insurers, recent events in Puerto Rico have become a major concern. Puerto Rico has tried to address its mounting debt crisis by enacting legislation that would create, in effect, a quasi-bankruptcy court to provide restructuring relief for certain public...

• Puerto Rico Debt Recovery Act Ruled Unconstitutional1

  On Friday February 6, the Puerto Rico Federal District Court ruled the Debt Enforcement and Recovery Act (the “Recovery Act”) unconstitutional. Franklin Calif. Tax-Free Trust, et al. v. Comm. Of Puerto Rico et al., (D.P.R., Feb. 6, 20150)(Case No. 3:14-cv 01518- FAB). 

 

 The...

• Draft Treasury Legislation Would Give Puerto Rico Access to “Super Chapter 9” and Chapter 9 Bankruptcy

  A draft of the U.S. Treasury’s proposed debt restructuring legislation began circulating earlier today. The draft legislation would give Puerto Rico, as well as other U.S. territories, and their municipalities access to U.S. bankruptcy court under a new chapter of the U.S. Bankruptcy Code (so-calle...

• Top 20 Things You Should Know About the Proposed Puerto Rico Employment Law Reform

  Under a new government administration, Puerto Rico employment laws will undergo the most significant transformation in decades with the expected enactment of the “Labor Transformation and Flexibility Act.”

 

 In an unprecedented but anticipated move, on January 14, 2017, the...

• Puerto Rico Files for Bankruptcy: New York Judge to Hear Case

  On May 3, 2017, the Financial Oversight and Management Board for Puerto Rico filed a voluntary petition for relief on behalf of Puerto Rico in federal court there. The filing required the Chief Justice of the United States to designate a district court judge to conduct the case. On May 5, Chief...

• Puerto Rico Secretary of Labor and Human Resources Issues New Guidelines Governing Payment of the Christmas Bonus

  The Secretary of the Puerto Rico Department of Labor and Human Resources (“PR DOL”) has issued a new regulation, effective October 18, 2017, to administer Puerto Rico’s Christmas Bonus Law, Act. No. 148 of June 30, 1969. The new regulation, which supersedes all prior regulations on the subject,...

• New Act in Puerto Rico Establishes a Special Paid Leave for Employees Suffering from Catastrophic Illnesses

  The Governor of Puerto Rico recently signed into law Act No. 28 (“Act 28”), entitling all employees, including temporary employees, to take up to six days of paid leave per year if they suffer from a “catastrophic illness.”...

• Littler Global Guide - Puerto Rico - Q2 2018

  Guidance on the Federal Employee Retention Benefit for Certain Employers Affected by Hurricane Irma and María -
 
 New Regulation or Official Guidance -
 
 The Puerto Rico Department of the Treasury issued Internal Revenue Circular Letter No. 18-11 establishing the eligibility...