San Juan, Puerto Rico – May 7, 2026 – Governor Jenniffer González-Colón once again delivered on her commitment to the people by securing approval from the Financial Oversight and Management Board for Puerto Rico (FOMB) for the distribution of tax rebates to working families through the “Cheque Para Ti” (Check for You, in English) initiative.
“Today is a historic day for Puerto Rico’s working- and middle-class families. We secured approval for the $554 million ‘Cheque Para Ti’ initiative for eligible taxpayers, one of the largest direct taxpayer relief distributions in Puerto Rico’s history. This is the clearest proof that this Administration is fulfilling its promise to provide resources to the families who work hard every day. This achievement is the result of months of collaborative work between the Government of Puerto Rico and the Oversight Board. We demonstrated that it is possible to govern with fiscal responsibility while also putting money directly into the pockets of the families who need it most. This is what governing for the people looks like,” the Governor stated.
Joining the Governor during the announcement were Chief of Staff and Executive Director of the Puerto Rico Fiscal Agency and Financial Authority (AAFAF, for its Spanish acronym) Francisco J. Domenech; Puerto Rico Treasury Secretary Ángel Pantoja; and Puerto Rico Office of Management and Budget (OGP, for its Spanish acronym) Director Orlando Rivera.
The tax rebate measure is fiscally responsible: the $554 million are fully identified and funded through available balances from prior fiscal years, existing reserves, and collected revenues that exceeded projections. It does not affect the certified Fiscal Year 2026 budget, does not create a deficit, and does not compromise essential services provided to residents.
Taxpayers will not need to apply for the “Cheque Para Ti” payment. The Puerto Rico Department of Treasury will calculate the payment automatically based on each processed 2025 income tax return.
Payments will be distributed via direct deposit using the bank account information included on the taxpayer’s 2025 tax return for refunds. If the 2025 return did not include refund banking information, the Government will enable a link through the Puerto Rico Department of Treasury’s SURI system for taxpayers to provide their bank account details and receive the payment electronically. Individuals without bank accounts will receive a physical check. The payment will be issued separately from any tax refund owed to the taxpayer.
For taxpayers with outstanding debts owed to the Puerto Rico Department of Treasury or the Child Support Administration (ASUME, for its Spanish acronym), the payment will first be applied toward those obligations, with any remaining balance paid directly to the taxpayer. The amount received through this initiative will be exempt from Puerto Rico income taxes.
The “Cheque Para Ti” initiative will be implemented in two phases. Effective this Monday, the Puerto Rico Department of Treasury will activate a SURI portal link for taxpayers who did not include banking information on their 2025 individual tax return to submit their account details.
During the second phase, the Department will begin issuing the first wave of payments to eligible individuals. Payments will continue to be issued every two weeks as tax return processing is completed, before the end of May.
Who is eligible?
Any individual taxpayer who resided in Puerto Rico during calendar year 2025, filed a 2025 income tax return, and has net taxable income of $150,000 or less will qualify—covering the vast majority of working families and middle-class residents. Pursuant to Joint Resolution 6-2026, the calculation of the “Cheque Para Ti” benefit also includes doubling the dependent deduction benefit for minors under the age of 18 from $2,500 to $5,000. Taxpayers with dependents under 18 may therefore receive a larger benefit.
On January 29, Governor González-Colón, alongside Puerto Rico Treasury Secretary Pantoja, announced her administration would file legislation (A-109) to provide direct payments to working families during this tax cycle using savings generated by the administration within the state budget.
On February 3, the proposal became Joint Resolution 6, allocating $554 million from the State Treasury General Fund to the Puerto Rico Department of Treasury to finance the distribution of “Cheque Para Ti” payments.
“I appreciate the openness demonstrated by the Oversight Board in allowing the people of Puerto Rico to receive the ‘Cheque Para Ti,’” the Governor added.
Governor González Colón also introduced legislation to adopt the same fiscal responsibility framework recognized by national credit rating agencies as a key indicator of financial strength and stability through the creation of a Budget Stabilization Fund and a Capital Projects Fund..
“For the first time in our history, today I am introducing legislation that formally establishes a Budget Stabilization Fund and a Capital Projects Fund=—elements that states with the highest credit ratings in the nation maintain in a robust manner and which are recognized by national credit rating agencies as key indicators of financial strength and stability. Through these actions, we are taking an unprecedented step to improve fiscal discipline, placing Puerto Rico alongside the best-managed jurisdictions in the nation,” the Governor said.
Both bills, developed jointly over the past two months by the Government’s fiscal team and the FOMB, will be formally introduced before the Legislature today. The administration acknowledged the collaboration of the FOMB in developing the legislative language.
Puerto Rico currently does not hold a credit rating; however, these initiatives represent a deliberate and concrete step toward rebuilding institutional confidence necessary to restore favorable credit ratings.
The proposal, Administration Bill 115, amends Act No. 147 of June 18, 1980 (Organic Act of the Office of Management and Budget) to create an independent fund within the General Fund under the custody of the Puerto Rico Secretary of Treasury.
The Budget Stabilization Fund will receive an initial capitalization of $729 million during Fiscal Year 2025-2026. Beginning in Fiscal Year 2026-2027, the Fund will receive annual contributions equal to 1.4% of General Fund expenditures until reaching a balance equal to 13.5% of the total General Fund budgeted expenditures by June 30, 2032.
The Governor may authorize the use of the Budget Stabilization Fund only when actual General Fund revenues fall 2% below the approved budget, excluding reductions caused by tax policy changes, or in the event of extraordinary or catastrophic events not covered by the emergency fund.
The Budget Stabilization Fund also establishes a Five-Year Financial Plan that must include revenue projections, expenditures, and monthly cash flow projections based on Generally Accepted Accounting Principles (GAAP)and modified accrual methodology, with all information made publicly available.
The creation of this fund, to be administered by OGP under Administration Bill 116, represents the first formal structural separation of Puerto Rico’s public capital expenditures, eliminating the historic fragmentation that hindered strategic infrastructure planning.
Funding sources include General Fund deposits, Treasury Single Account balances, the Puerto Rico Trust Fund, transfers of existing capital funds, reimbursements from federally funded projects, and other revenue streams.
The fund will be used exclusively for public capital improvements benefiting agencies, instrumentalities, and municipalities supported by the General Fund, as well as entities primarily responsible for transportation infrastructure and government facilities.
“The creation of the Budget Stabilization Fund and the Capital Projects Fund represents another major step by this Administration in its commitment to fiscal responsibility, budget discipline, and short-, medium-, and long-term financial planning. These measures position Puerto Rico with greater fiscal resilience, aligned with national best practices, and strengthen the Government’s ability to respond in an orderly and sustainable way to economic shocks, extraordinary events, and structural public investment needs,” the Governor added.
In addition to these new structural funds, Puerto Rico currently maintains a robust framework of liquidity, reserves, and operational capacity, including:
· $1.3 billion in emergency funds to address hurricanes, earthquakes, or other extraordinary events;
· $566 million in reserves designated for obligations under the Plan of Adjustment;
· $750 million in a revolving fund to support matching requirements for federally funded disaster recovery projects;
· $1 billion in working capital for annual cash flow needs; and
· $683 million directed toward strengthening Puerto Rico’s energy sector.
