S. 3262 · 115th Congress
United States Territorial Relief Act of 2018
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
WarrenSponsor4 cosponsors · 3 D, 1 I
4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill establishes a process under which Puerto Rico and other U.S. territories may terminate certain debts if they meet eligibility criteria.
What it does: CRS summary · Introduced in Senate · Jul 25, 2018
United States Territorial Relief Act of 2018
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, and
- the territory's per capita debt exceeds $15,000.
The bill also provides funding that a special master must allocate to certain creditors whose debts were discharged under this bill.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: United States Territorial Relief Act of 2018
Latest action (Jul 25, 2018): Read twice and referred to the Committee on Energy and Natural Resources.
Policy area: Government Operations and Politics · Origin: Senate · Introduced: Jul 25, 2018
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.