On 10 July 2010, the government of Puerto Rico Act No. 74 of 2010 otherwise known as the "Tourism Development Act". The core scope of this Act is to spur the development of tourism projects via providing the following incentives:

• Tax credits equal to the lesser of 10% of total project cost or 50% cash payment from investors.
• 100% exemption on municipal construction excise tax
• 100% exemption on imported goods and sales tax
• 100% exemption on municipal licenses
• 90% exemption on income tax
• 90% exemption on property tax

The denoted incentives, according to Act No.74 are suposed to remain valid for 10 years (from the opening date) for the eligible tourism project. They also have the possibily to be extended for another 10 years upon review. 
Act 74 also states that these incentives are exclusively designated for the tourism projects executed by the following profiles of business entities:

• Guesthouses, hostels, hotels, condo-hotels, timeshare vacation clubs, excluding casinos,
• Theme parks, golf courses managed by, or associated with, a hotel that is an exempt business, marinas and port facilities in areas that promote and encourage tourism
• Natural resources used as entertainment sources,
• Other facilities acting as recreational or entertainment sources, which encourage internal and/or external tourism