3.0.0 4199 2023-01-11T13:32:29Z 2023-01-11T13:32:29Z House HR 2015-12-09 114 [Congressional Record Volume 161, Number 178 (Wednesday, December 9, 2015)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. DUFFY:H.R. 4199.Congress has the power to enact this legislation pursuantto the following:Article IV, section 3, clause 2 and Article I, section 8,clause 4.[Page H9205]]]> hsju00 Judiciary Committee House Standing hsju05 Administrative State, Regulatory Reform, and Antitrust Subcommittee Referred to 2016-01-15T15:45:57Z Referred to 2015-12-09T15:01:15Z hsii00 Natural Resources Committee House Standing hsii24 Indian and Insular Affairs Subcommittee Referred to 2015-12-14T17:48:54Z Referred to 2015-12-09T15:01:10Z Puerto Rico Assistance Act of 2015 114 2381 S 2015-12-09 Read twice and referred to the Committee on Finance. Related bill CRS Puerto Rico Chapter 9 Uniformity Act of 2015 114 870 HR 2015-03-16 Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law. Related bill CRS 2016-01-15 hsju05 Administrative State, Regulatory Reform, and Antitrust Subcommittee 1 House committee actions Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law. Committee 2015-12-14 hsii24 Indian and Insular Affairs Subcommittee 1 House committee actions Referred to the Subcommittee on Indian, Insular and Alaska Native Affairs. Committee 2015-12-10 Sponsor introductory remarks on measure. (CR H9266) IntroReferral B00100 9 Library of Congress 2015-12-09 Referred to the Committee on Natural Resources, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsju00 Judiciary Committee 2015-12-09 Referred to the Committee on Natural Resources, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100-A 9 Library of Congress 2015-12-09 Referred to the Committee on Natural Resources, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsii00 Natural Resources Committee 2015-12-09 Introduced in House IntroReferral Intro-H 9 Library of Congress 2015-12-09 Introduced in House IntroReferral 1000 9 Library of Congress D000614 Rep. Duffy, Sean P. [R-WI-7] Sean Duffy R WI P. 7 N M001195 Rep. Mooney, Alexander X. [R-WV-2] Alexander Mooney R WV X. 2 2016-01-05 False Y000033 Rep. Young, Don [R-AK-At Large] DON YOUNG R AK E. 0 2016-02-03 False D000600 Rep. Diaz-Balart, Mario [R-FL-25] Mario Diaz-Balart R FL 25 2016-02-03 False Economics and Public Finance Bankruptcy Budget deficits and national debt Budget process Caribbean area Financial crises and stabilization Legislative rules and procedure Puerto Rico State and local finance State and local government operations U.S. territories and protectorates Economics and Public Finance 00 2015-12-09 Introduced in House 2016-04-18T19:01:47Z Puerto Rico Financial Stability and Debt Restructuring Choice Act

This bill establishes the Puerto Rico Financial Stability Council, subject to enactment of a law by the Legislative Assembly and the governor of Puerto Rico.

For each fiscal year the governor of Puerto Rico shall develop a financial plan, and the Legislative Assembly shall develop a budget, that meet specified requirements to promote financial stability, and both shall submit them to the Council for its approval. The bill prescribes procedures for submission to the Council of revised financial plans or revised budgets in the event of disapproval for failing meet specified criteria.

The government of Puerto Rico may not borrow money unless the Council certifies in advance that both the receipt of borrowed funds and the repayment of obligations incurred are consistent with the financial plan and budget for the year.

The bill also prescribes procedures for addressing any variance of actual revenues and expenditures from the adopted financial plan and budget, including the withholding of funds under federal programs.

The Council shall recommend to the governor, the Legislative Assembly, the President, and Congress actions for the government of Puerto Rico or the federal government to take to ensure compliance with a financial plan and budget.

The bill amends federal bankruptcy law to apply to Puerto Rico treatment as a state with respect to Adjustments of Debts of a Municipality.

]]> Puerto Rico Financial Stability and Debt Restructuring Choice Act Display Title Puerto Rico Financial Stability and Debt Restructuring Choice Act Official Title as Introduced To provide the government of Puerto Rico the choice to restructure its municipal debt in conjunction with enhanced financial oversight, and for other purposes. Introduced in House IH Short Titles as Introduced Puerto Rico Financial Stability and Debt Restructuring Choice Act Introduced in House 2015-12-09T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr4199ih/xml/BILLS-114hr4199ih.xml 2016-01-15 Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.