H.R. 2526 · 116th Congress
United States Territorial Relief Act of 2019
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
VelázquezSponsor15 cosponsors · 15 D
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Clarke
AE
D
Espaillat
RG
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Gallego
PJ
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Jayapal
RK
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Khanna
EN
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Norton
JS
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Schakowsky
AS
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Sires
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Soto
CG
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García
JM
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McGovern
BR
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Rush
SJ
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Jackson Lee
AO
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Ocasio-Cortez
JK
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Kennedy9 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 House · May 3, 2019
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.
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 2019
Latest action (May 3, 2019): 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.
Policy area: Government Operations and Politics · Origin: House · Introduced: May 3, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.