[House Prints 114-57]
[From the U.S. Government Publishing Office]





S:\CLERK\XML\CPRT-114-HPRT-RUOO-HR5278.XML 






                                  JUNE 3, 2016 
                                  
 
                          RULES COMMITTEE PRINT 114-57 
                          
                          TEXT OF H.R. 5278, PROMESA 
                          
           [Showing the text of the bill as ordered reported by the 
                     Committee on Natural Resources.] 
                     
                     

1 SECTION 1. SHORT TITLE; TABLE OF CONTENTS. 

2      (a) SHORT TITLE.--This Act may be cited as the 

3 "Puerto Rico Oversight, Management, and Economic Sta-

4 bility Act" or "PROMESA". 

5      (b) TABLE OF CONTENTS.--The table of contents of 

6 this Act is as follows: 

  Sec. 1. Short title; table of contents. 
  Sec. 2. Effective date. 
  Sec. 3. Severability. 
  Sec. 4. Supremacy. 
  Sec. 5. Definitions. 
  Sec. 6. Placement. 
  Sec. 7. Compliance with Federal laws. 

  TITLE I-ESTABLISHMENT AND ORGANIZATION OF OVERSIGHT 
                              BOARD 

  Sec. 101. Financial Oversight and Management Board. 
  Sec. 102. Location of Oversight Board. 
  Sec. 103. Executive Director and staff of Oversight Board. 
  Sec. 104. Powers of Oversight Board. 
  Sec. 105. Exemption from liability for claims. 
  Sec. 106. Treatment of actions arising from Act. 
  Sec. 107. Budget and funding for operation of Oversight Board. 
  Sec. 108. Autonomy of Oversight Board. 
  Sec. 109. Ethics. 

      TITLE II-RESPONSIBILITIES OF OVERSIGHT BOARD 
      
      
  Sec. 201. Approval of fiscal plans. 
  Sec. 202. Approval of budgets. 
  Sec. 203. Effect of finding of noncompliance with budget. 
  Sec. 204. Review of activities to ensure compliance with fiscal plan. 
  Sec. 205. Recommendations on financial stability and management 
             responsibility. 



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June 3, 2016 (10:57 a.m.) 

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