Bill 724, submitted on September 21, 2026 by the Ministry of the Presidency, was approved in first debate on September 30, 2026 by the Economy and Finance Committee of the National Assembly, chaired by Deputy Víctor De Jesús Castillo (Realizando Metas, circuit 3-1). The initiative moved to second debate on October 1, 2026 and is not yet law.

Its article 1 approves Addendum No. 1 to the contract signed between the State and the City of Knowledge Foundation, authorized by Decree Law 6 of February 10, 1998, which has the favorable opinion of the Cabinet Council through Cabinet Resolution No. 96 of September 15, 2026. The second clause of the addendum amends the fifth clause of the original contract and extends the tax exemption regime for an additional term, from February 13, 2023 to February 12, 2048, renewable for equal periods.

That regime, set out in the amended fifth clause, exempts the Foundation and the entities established for the project's purposes from import tax on machinery, equipment and vehicles, from the Tax on the Transfer of Movable Goods and the Provision of Services (ITBMS) on the goods and services needed for the project, from the Real Estate Tax on the Foundation's property, and from levies on fund transfers abroad tied to the project. Innovative companies established in the technology parks keep their operations and capital free of direct national taxes.

The original contract set those incentives for twenty-five (25) years, a term that expired on February 12, 2023, and the addendum seeks to give continuity and legal certainty to the regime applicable to the area's investments. According to the explanatory statement, the City of Knowledge hosts more than two hundred sixty organizations and generates more than eleven thousand jobs. In exchange for the extension, the amended fifth clause requires the Foundation to send the Directorate General of Revenue each year a list of affiliated companies with their Single Taxpayer Registry (RUC) number and to document the economic activities of the beneficiary companies.

The effect is not immediate. The bill must be approved in second and third debate on the floor, be sanctioned and promulgated, and the addendum also requires endorsement by the Comptroller General of the Republic. The addendum itself creates an inter-institutional commission, chaired by the Ministry of the Presidency, with nine months to assess whether to propose a law regulating the special regime of the City of Knowledge. Nexo Capital will follow the debates and the endorsement of the contract.