Puerto Rico Financial Stability and Debt Restructuring Choice Act

H.R. 4199 · 114th Congress · Dec 9, 2015 · Lineage

A BILL

To provide the Government of Puerto Rico the choice to restructure its municipal debt in conjunction with enhanced financial oversight, and for other purposes.

Section 1 Short title; table of contents

(a)

Short title— This Act may be cited as the “Puerto Rico Financial Stability and Debt Restructuring Choice Act”.

(b)

Table of contents— The table of contents for this Act is as follows:

Sec. 2 Findings

Congress finds the following:

(1)

A combination of structural problems, mounting debt, and weak public finances has left Puerto Rico in a financial debt crisis and resulted in continued outmigration of residents and business from Puerto Rico further stifling growth.

(2)

A comprehensive, long-term approach must be established to initiate significant reforms to restore to Puerto Rico access to short-term and long-term lending, eliminate annual deficits, and reduce its debt.

(3)

The current crisis requires congressional action that supports Puerto Rico by providing the appropriate tools needed to restore financial stability while respecting and strengthening its authority to operate and grow independently.

Lineage

Dec 9, 2015viewing Introduced in House Mr. Duffy introduced the following bill; which was referred to the Committee on Natural Resources, and in addition to the Committee on the Judiciary, 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

Puerto Rico Financial Stability and Debt Restructuring Choice Act

Section 1 Short title; table of contents

Sec. 2 Findings

Cite this provision

Incoming references