News & Analysis as of

Natural Disasters Hurricane Maria

Nelson Mullins Riley & Scarborough LLP

FEMA's Award of Billions in Aid to Puerto Rico Could be the Beginning of an Infrastructure and Manufacturing Expansion

The White House announced an $11.6 billion aid package to Puerto Rico on Sept. 18 to aid it in its recovery from Hurricane Maria, which devastated the island and its infrastructure in September 2017. The funds will be granted...more

Littler

Employees’ Compensation Following the Earthquake Situation in Puerto Rico

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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,...more

Littler

Puerto Rico Treasury Again Extends Deadlines to Request Federal Employee Retention Benefit After Hurricanes Irma And María

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On May 17, 2019, the Puerto Rico Department of the Treasury (“PR Treasury”) issued Internal Revenue Informative Bulletin No. 19-07, granting an additional extension until June 30, 2019 for employers to request the Federal...more

Littler

Littler Global Guide - Puerto Rico - Q1 2019

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The Puerto Rico Department of the Treasury (the PR Treasury) issued Internal Revenue Informative Bulletin No. 19-01 extending the deadline to March 31, 2019, to request the Federal Employee Retention Benefit related to...more

Littler

Puerto Rico Treasury Extends Deadlines to Request Federal Employee Retention Benefit After Hurricanes Irma And María

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The Puerto Rico Department of the Treasury (“PR Treasury”) has issued Internal Revenue Informative Bulletin No. 19-01, extending until March 31, 2019 the deadline to request the Federal Employee Retention Benefit (“Benefit”)...more

Littler

Puerto Rico Treasury Department Extends Period to Make Hurricane-Related Retirement Plan Distributions

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Last year, the Puerto Rico Department of the Treasury (the “PR Treasury”) issued Administrative Determination Number 17-29 (“AD 17-29”) to provide rules and procedures for allowing distributions from an IRA or a Puerto Rico...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Puerto Rico Law Authorizes Pay Deductions as Repayment for Employer-Provided Emergency Aid

Puerto Rico is still reeling from the aftermath of Hurricane Maria. Recently, the governor of Puerto Rico signed into law Act No. 115 of June 20, 2018, to promote recovery efforts and provide much-needed aid to affected...more

Sullivan & Worcester

Puerto Rico: The Continuing Challenge to Rebuild the Island’s Power System and the Role of Microgrids in a Sustainable Future

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In the nine months since Hurricane Maria, substantial progress has occurred in bringing Puerto Rico’s power grid back online. Some consumers with access to solar microgrid systems regained power as soon as a few days after...more

Littler

Puerto Rico Department of the Treasury Issues Guidance on the Federal Employee Retention Benefit for Certain Employers Affected by...

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On September 29, 2018, the Disaster Tax Relief and Airport Extension Act of 2017, as amended (the “Act”), was adopted to, among other goals, provide tax relief to those affected by Hurricanes Irma and Maria. The Act includes...more

Zelle  LLP

Maria, Where Are The Claims?

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In the six months since Hurricane Maria devastated Puerto Rico, much progress has been made. Water service has been restored to 99% of the island and electricity to 93%. Of the total losses in the Caribbean from Maria,...more

Robinson+Cole Data Privacy + Security Insider

Drones Helping to Restore Power in Puerto Rico

In the mountains near Ponce, Puerto Rico, after Hurricane Maria tore through, the terrain made it difficult to repair power lines that stretched from peak to peak. For over four months, the entire area was in the dark and so...more

Littler

Deadline to Report Qualified Payments for Disaster Assistance with the Puerto Rico Department of the Treasury is Soon Approaching

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On October 4, 2017, the Puerto Rico Department of the Treasury (the "PR Treasury") issued Administrative Determination No. 17-21 (AD 17-21) to exclude from gross income certain payments employers made to employees for...more

Moore & Van Allen PLLC

Smith to Moderate Judges’ Panel at ABI Symposium to Benefit Puerto Rico

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Charlotte Bankruptcy Member and Team Leader Zach Smith will be moderating a panel of Puerto Rico’s Bankruptcy Judges at the American Bankruptcy Institute’s Caribbean Insolvency Symposium on February 1 in Miami, Florida....more

Baker Donelson

Congress Passes Government Funding Measures

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On December 21, Congress passed a bill to continue funding the government through January 19, 2018, averting a potential government shutdown ahead of the December 22, 2017, deadline for the previous funding measure. The House...more

Littler

Puerto Rico Department of the Treasury issues Q&As Clarifying Guidance on Qualified Payments Made for Hurricane María Disaster...

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As previously discussed, on October 4, 2017, the Puerto Rico Department of the Treasury (the “PR Treasury”) issued Administrative Determination No. 17-21 (“AD 17-21”) granting temporary income tax exemption for payments...more

Locke Lord LLP

2017 Hurricane Season the Costliest on Record

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The 2017 United States Atlantic hurricane season, which officially ended on November 30, was the most expensive ever according to one report. Disaster modelers Chuck Watson and Mark Johnson concluded that total damages for...more

Littler

Puerto Rico Treasury Department Issues Post-Hurricane Rules for Qualified Retirement Plan and IRA Distributions and Loans

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On November 15, 2017, the Puerto Rico Department of the Treasury (the "PR Treasury") issued Administrative Determination Number 17-29 ("AD 17-29") to provide special rules and procedures applicable to distributions from...more

Littler

Puerto Rico Secretary of Labor Issues Opinion Regarding Allowed Payroll Deductions Following Hurricanes Irma and María

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On November 10, 2017, Puerto Rico's Secretary of the Department of Labor and Human Resources (“Secretary”) issued Opinion No. 2017-002 (“Opinion”) addressing allowable deductions from non-exempt employees’ pay following...more

Littler

Puerto Rico Governor Signs Executive Order Authorizing Rules for Retirement Plan and IRA Distributions in the Wake of Recent...

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On November 8, 2017, the Governor of Puerto Rico signed Executive Order No. 2017-067 (“EO 2017-067”) authorizing the Secretary of the Department of the Treasury (the “PR Treasury”) to establish tax rules for distributions...more

Jackson Lewis P.C.

Puerto Rico Agencies Issue Employee-Related Guidance, Tax Relief In Wake Of Hurricane

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The passage of Hurricane María through Puerto Rico in September 2017 left catastrophic damages. In an effort to encourage employer assistance and provide temporary economic relief to employees in Puerto Rico, local government...more

Littler

Deadline to Make Contributions and File Quarterly Unemployment and Disability Tax Report in Puerto Rico Extended until December...

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On October 24, 2017, Puerto Rico's Secretary of the Department of Labor and Human Resources issued an Administrative Order granting an automatic extension for all employers required to file a Quarterly Unemployment and...more

Bradley Arant Boult Cummings LLP

Trigger for Hurricane and Named Storm Deductibles

Recent damage from Hurricanes Harvey, Irma, and Maria have focused attention on special “named storm” and “hurricane” deductible endorsements found in most property insurance policies issued for coastal areas. Such...more

Patterson Belknap Webb & Tyler LLP

Additional Hurricane Relief for Retirement Plan Participants Makes Landfall

On September 29, 2017, the Disaster Tax Relief and Airport and Airway Extension Act of 2017 (the “Act”)1 was signed into law to provide aid to victims who are recovering from the recent hurricanes in August and September...more

Robinson & Cole LLP

Puerto Rico’s Hacienda Issues Tax Relief for Victims of Hurricane

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On October 4, 2017, the Puerto Rico Department of Treasury (Hacienda) issued Administrative Determination No. 17-21 (Notice), which clarifies the tax treatment of certain payments made to assist those affected by Hurricane...more

K2 Integrity

Relief After The Storm: Volunteer Efforts Make A Difference

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From hurricanes Harvey to Irma, Maria and Nate, how nongovernmental organizations, private enterprise, local groups, and transported not-for-profits help to make the system work....more

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