United States Territorial Relief Act of 2019
Latest action · May 2, 2019 Read twice and referred to the Committee on Energy and Natural Resources.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMay 2, 2019
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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.
Cosponsors 4
Members who signed on, in the order they did. All signed on May 2, 2019.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| I-VT | Bernard Sanders | Original | May 2, 2019 |
| D-MA | Edward J. Markey | Original | May 2, 2019 |
| D-CA | Kamala D. Harris | Original | May 2, 2019 |
| D-NY | Kirsten E. Gillibrand | Original | May 2, 2019 |
Actions 2
Everything that happened, newest first.
- May 2, 2019Introduced in Senate
- May 2, 2019Read twice and referred to the Committee on Energy and Natural Resources.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 2526 | United States Territorial Relief Act of 2019 | Identical bill | May 3, 2019 |
Subjects
Assigned by the Library of Congress. Policy area: 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 Operations and Politics
- 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
Text 1
Each version as it was printed, newest first.
- May 2, 2019Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.