Panama, 25 August 2025. Today, the Sub-Commission established by the Commission of Education, Culture and Sport met with the team of the Ministry of Culture, headed by Minister María Eugenia Herrera, to discuss the bill 80 amending some articles of Act 136 and repealing Act 53 of 4 July 2017.

These reforms to the law are made with a view to unifying and strengthening the regime of fiscal and social incentives for the protection and revitalization of the historic centers of Panama City and Colón, and also to integrating the St. Anne's Reg as an integral part of the buffer zone.

Moreover, to create a modern and robust legal framework that promotes private and social investment in the restoration, reconstruction and rehabilitation of housing and to protect the material and immaterial cultural heritage of the nation and to guarantee social inclusion of residents and tenants, especially older adults and vulnerable families.

The main challenges of this new legislation are fiscal and financial incentives and preferential mortgage loans supported by fiscal credits and an exemption from income tax for 10 years for restored or rehabilitated property.

Also an exemption from import tax on specialized construction materials, a deduction from rental fee for housing tenants for 5 years and fair retirement periods for rental tenants in restoration processes.

The implementation of this law expects the complete recovery of Santa Ana and Colón as cultural, tourist and residential poles and increased national and international investment for restoration projects and the creation of living, secure and sustainable historic cities, with culture as an engine for economic and social development.

Currently, 180 properties currently exist in the province of Colón, representing fundamental links of our history that have been never restored and have been increasingly damaged.