US SB1312 | 2019-2020 | 116th Congress

Status

Spectrum: Moderate Partisan Bill (Democrat 4-1)
Status: Introduced on May 2 2019 - 25% progression, died in committee
Action: 2019-05-02 - Read twice and referred to the Committee on Energy and Natural Resources.
Pending: Senate Energy And Natural Resources Committee
Text: Latest bill text (Introduced) [PDF]

Summary

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.

Tracking Information

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Title

United States Territorial Relief Act of 2019

Sponsors


History

DateChamberAction
2019-05-02SenateRead twice and referred to the Committee on Energy and Natural Resources.

Same As/Similar To

HB2526 (Same As) 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.

Subjects


US Congress State Sources


Bill Comments

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