3.0.0 1312 2022-02-08T23:21:44Z 2022-02-08T23:21:44Z Senate S 2019-05-02 116 sseg00 Energy and Natural Resources Committee Senate Standing Referred to 2019-05-02T20:06:10Z United States Territorial Relief Act of 2019 116 2526 HR 2019-05-03 Referred to the Committee on Natural Resources, and in addition to the Committees on the Judiciary, and the Budget, 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. Identical bill CRS 2019-05-02 sseg00 Energy and Natural Resources Committee Senate Read twice and referred to the Committee on Energy and Natural Resources. IntroReferral 2019-05-02 Introduced in Senate IntroReferral 10000 9 Library of Congress W000817 Sen. Warren, Elizabeth [D-MA] Elizabeth Warren D MA A. N S000033 Sen. Sanders, Bernard [I-VT] Bernard Sanders I VT 2019-05-02 True H001075 Sen. Harris, Kamala D. [D-CA] Kamala Harris D CA D. 2019-05-02 True M000133 Sen. Markey, Edward J. [D-MA] Edward Markey D MA J. 2019-05-02 True G000555 Sen. Gillibrand, Kirsten E. [D-NY] Kirsten Gillibrand D NY E. 2019-05-02 True Government Operations and Politics Accounting and auditing Appropriations Bank accounts, deposits, capital Bankruptcy Budget deficits and national debt Caribbean area Civil actions and liability Disaster relief and insurance Employee benefits and pensions Executive agency funding and structure Federal district courts Government liability Government studies and investigations Government trust funds Judicial review and appeals Jurisdiction and venue Puerto Rico Securities State and local finance U.S. territories and protectorates Government Operations and Politics 00 2019-05-02 Introduced in Senate 2020-05-06T20:02:00Z United States Territorial Relief Act of 2019

This bill establishes a process under which Puerto Rico and other U.S. territories may terminate certain debts if they meet eligibility criteria.

The bill allows territories to terminate their public, unsecured debt if they meet two of three criteria:

  • the population of the territory has decreased by more than 5% over 10 years,
  • the territory received major federal disaster assistance, or
  • the territory's per capita debt exceeds $15,000.

If Puerto Rico discharges its debt under this process, the bill provides funding that a special master must allocate to certain creditors whose debts were discharged.

The bill also establishes a Puerto Rico Public Credit Comprehensive Audit Commission.

]]> United States Territorial Relief Act of 2019 Display Title United States Territorial Relief Act of 2019 Short Title(s) as Introduced United States Territorial Relief Act of 2019 Introduced in Senate IS Official Title as Introduced A bill to provide the option of discharging certain unsecured financial obligations of self-governing territories of the United States. Introduced in Senate IS Introduced in Senate 2019-05-02T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s1312is/xml/BILLS-116s1312is.xml 2019-05-02 Read twice and referred to the Committee on Energy and Natural Resources. 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.