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Wednesday, April 5, 2017

Puerto Rico News Digest For April 5, 2017


GOVERNMENT STARTS SENDING OUT 2016 TAX REFUNDS





















From The San Juan Daily Star:

"Just two weeks before the electronic tax filing period ends, Gov. Ricardo Rosselló Nevares and Treasury Secretary Raúl Maldonado announced on Monday that the first refunds pertaining to the 2016 tax cycle have begun to be sent out. “Unfortunately, the lack of fiscal consistency during the past administration caused the delay in the disbursement of these refunds,” the governor said in a written statement. “Our administration is working to ensure that this situation is not repeated since it’s the taxpayers’ money.”


MAN FOUND SHOT TO DEATH IN CIDRA


An as of yet unidentified male was found dead of several gunshot wounds last night on the grounds of a cockfighting arena in the Freire neighborhood of Cidra. Police found the body shortly after 10:00 PM, as well as a firearm, which laid near the victim's body. The deceased was 5 feet 10 inches tall and weighed approximately 190 pounds, according to El Vocero. He was dressed in a green shirt, blue jeans and black sneakers. Caguas Division homicide detectives are investigating.


PREPA BONDHOLDERS AND FAFAA NEGOTIATE


From El Nuevo Dia:

"The Puerto Rico Fiscal Agency and Financial Advisory Authority (FAFAA) has made progress in its negotiations with the bondholders and other creditors of the Puerto Rico Electric Power Authority (PREPA). This, with the approaching deadline given by these very groups. According to sources of  El Nuevo Día, FAFAA and its advisors—Rothschild & Co. and Dentons—have convinced members of PREPA’s Ad Hoc group to accept leaving their money on the table, extending the life of their bonds, and  even contributing to the payment of the debt's maturities, which expire next July. The new terms in the Restructuring Support Agreement (RSA) will be announced this week, when the sixteenth extension granted by creditors to Puerto Rico is also due..."


SEN. NELSON FILES BILL TO HELP PR SENIORS


From Villages News:

"U.S. Sen. Bill Nelson, D-FL, has filed legislation to help an estimated 400,000 low-income seniors living in Puerto Rico afford the cost of their prescription drugs. The measure, which Nelson filed just two weeks after Puerto Rico warned the U.S. of a looming health care crisis if it is unable to solve its current fiscal crisis, would make Puerto Rico’s low-income seniors eligible for the Medicare Part D Low Income Subsidy program, which provides federal subsidies to help seniors afford the cost of their prescription drugs..."


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