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Puerto Rico Governor Ricardo Rosselló Enacts Sharing Economy Law

Puerto Rico Governor Ricardo Rosselló Enacts Sharing Economy Law

SAN JUAN – Puerto Rico Governor Ricardo Rosselló yesterday signed into law Senate Bill 840 which seeks to establish the government’s public policy on the sharing economy.

The sharing economy is defined as a system in which goods and services are shared between individuals. Uber and Airbnb are just two examples of this thriving economic model.

“The new law will require government agencies to take the sharing economy’s particular needs into account when issuing rules and regulations so that we allow this important sector to prosper,” said Anthony Maceira, the governor’s Public Affairs Secretary.

“The sharing economy has already stopped being a novelty and has turned into a trend in the development of new businesses,” Economic Development Secretary Manuel Laboy said. “We are confident that this initiative is another example that by identifying ways of doing things differently we can achieve great results.”

Ricardo Llerandi, the governor’s Chief of Staff said that “the way of doing business has definitely evolved, and to be able to adapt to this new reality, Puerto Rico Emprende has developed innovative initiatives such as the Apps & Videogames Challenge.”

“Through these initiatives we continue encouraging a new generation of digital entrepreneurs, promoting their development so that they can enter foreign markets,” Llerandi added.

“This forward-looking law allows for Puerto Rico to have the procedural framework that allows for the local sharing economy to respond swiftly, consistently and transparently,” Puerto Rico Governor Rosselló said. “It also highlights the importance of balancing the public interest and of encouraging new economic activity with the protection of industries that are duly established and regulated.”