United States Territorial Relief Act of 2019
Bill journey · stage 2 of 5
Under committee review
What it doesSummary 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.
What just happenedMay 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.
Who’s behind it
- Introduced in HouseMay 3, 2019
- May 3, 2019IntroReferralH11100
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.
Budget Committee - May 3, 2019IntroReferralH11100
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.
Judiciary Committee - May 3, 2019IntroReferralH11100
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.
Natural Resources Committee - May 3, 2019IntroReferralIntro-H
Introduced in House
- May 3, 2019IntroReferral1000
Introduced in House