Section 1 Short title
This Act may be cited as the “Puerto Rican People’s Power Restoration Act of 2026”.
Puerto Rican People’s Power Restoration Act of 2026
A BILL
To amend the Puerto Rico Oversight, Management, and Economic Stability Act to provide for the termination of the Oversight Board under certain circumstances, and for other purposes.
Sec. 2 Termination of oversight board
Section 209 of the Puerto Rico Oversight, Management, and Economic Stability Act (48 U.S.C. 2149) is amended as follows:
By striking “An Oversight Board” and inserting the following: “(a) In general.—Except as provided in subsection (b), an Oversight Board”.
By adding at the end the following new subsection:
“(b) Enactment of legislation—Notwithstanding subsection (a), an Oversight Board shall terminate the day after the date of the enactment of legislation by the Commonwealth of Puerto Rico, on or after the date of the enactment of this subsection, that designates or establishes a successor entity for such Board.”
Sec. 3 Substitution of debtor representation
Section 315(b) of the Puerto Rico Oversight, Management, and Economic Stability Act (48 U.S.C. 2175(b)) is amended as follows:
By striking “The Oversight Board” and inserting the following: “(1) In general.—Except as provided in paragraph (2), the Oversight Board”.
By adding at the end the following new paragraph:
“(2) Puerto Rico electric power authority
“(A) Substitute representative—On and after the date of the enactment of applicable legislation by the Commonwealth of Puerto Rico designating or establishing an entity as described in section 209(b), the Puerto Rico Electric Power Authority, its governing board, or other successor entity, as specified in such legislation, shall be the representative of the debtor for all cases initiated under this title on or after such date of enactment.
“(B) Staff—Unless otherwise explicitly provided by the applicable legislation described in subparagraph (A), all of the professionals, advisors, and counsel engaged by the Oversight Board prior to the date of the enactment of such legislation shall be retained by the substituted representative.”
Sec. 4 Rules of construction
None of the amendments made by this Act may be construed—
to alter or affect any of the requirements with respect to confirmation under section 314 of the Puerto Rico Oversight, Management, and Economic Stability Act (48 U.S.C. 2174);
to invalidate any fiscal plan or budget certified prior to the date of the enactment of this Act, until modified by a representative substituted in accordance with the amendment made by section 3, or by confirmation of a plan of adjustment; or
to alter or affect the jurisdiction of the United States District Court for the District of Puerto Rico as the court of competent jurisdiction under section 306 of the Puerto Rico Oversight, Management, and Economic Stability Act (48 U.S.C. 2166).