Legal Basis


The Puerto Rico Infrastructure Financing Authority (PRIFA) was created by virtue of Act No. 44 of June 21, 1988, as amended, to provide financial, administrative, consulting and technical, advisory, and other types of assistance, to other public corporations, governmental instrumentalities, political subdivisions and municipalities authorized to develop infrastructure facilities, and to establish alternate means for financing infrastructure facilities.


PRIFA is authorized to issue bonds and provide loans, grants and other financial assistance for the construction, acquisition, repair, maintenance and reconstruction of infrastructure projects by Benefited Entities.


PRIFA’s Enabling Act also established the Puerto Rico Infrastructure Fund, funded with annual fixed amounts from the first proceeds of federal excise taxes imposed on rum and other articles produced in Puerto Rico and sold in the United States which are transferred to Puerto Rico pursuant to the United States Internal Revenue Code of 1986, as amended.  Rum is the only article currently produced in Puerto Rico subject to federal excise taxes, the proceeds of which are required to be returned to the Puerto Rico Treasury Department. PRIFA is using these moneys to provide financial support for various infrastructure and other projects .