---
kind: "section"
citation: "48 U.S.C. § 2127"
title: "48"
title_heading: "Territories and Insular Possessions"
number: "2127"
heading: "Budget and funding for operation of Oversight Board"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/48/2127"
units:
  - "Chapter 20 — Puerto Rico Oversight, Management, and Economic Stability"
  - "Subchapter I — Establishment and Organization of Oversight Board"
---

# §2127. Budget and funding for operation of Oversight Board

- (a) **Submission of budget—** The [Oversight Board](/usc/48/2104.md?p=17) shall submit a [budget](/usc/48/2104.md?p=4) for each fiscal year during which the [Oversight Board](/usc/48/2104.md?p=17) is in operation, to the President, the House of Representatives Committee on Natural Resources and the Senate Committee on Energy and Natural Resources, the [Governor](/usc/48/2104.md?p=12), and the [Legislature](/usc/48/2104.md?p=15).
- (b) **Funding—** The [Oversight Board](/usc/48/2104.md?p=17) shall use its powers with respect to the [Territory Budget](/usc/48/2104.md?p=21) of the [covered territory](/usc/48/2104.md?p=8) to ensure that sufficient funds are available to cover all expenses of the [Oversight Board](/usc/48/2104.md?p=17).
  - (1) **Permanent funding—** Within 30 days after June 30, 2016, the [territorial government](/usc/48/2104.md?p=18) shall designate a dedicated funding source, not subject to subsequent legislative appropriations, sufficient to support the annual expenses of the [Oversight Board](/usc/48/2104.md?p=17) as determined in the [Oversight Board](/usc/48/2104.md?p=17)’s sole and exclusive discretion.
  - (2)
    - (A) **Initial funding—** On the date of establishment of an [Oversight Board](/usc/48/2104.md?p=17) in accordance with [section 2121(b) of this title](/usc/48/2121.md?p=b) and on the 5th day of each month thereafter, the [Governor](/usc/48/2104.md?p=12) of the [covered territory](/usc/48/2104.md?p=8) shall transfer or cause to be transferred the greater of $2,000,000 or such amount as shall be determined by the [Oversight Board](/usc/48/2104.md?p=17) pursuant to [subsection (a)](#a) to a new account established by the [territorial government](/usc/48/2104.md?p=18), which shall be available to and subject to the exclusive control of the [Oversight Board](/usc/48/2104.md?p=17), without any legislative appropriations of the [territorial government](/usc/48/2104.md?p=18).
    - (B) **Termination—** The initial funding requirements under [subparagraph (A)](#b-2-A) shall terminate upon the [territorial government](/usc/48/2104.md?p=18) designating a dedicated funding source not subject to subsequent legislative appropriations under [paragraph (1)](#b-1).
  - (3) **Remission of excess funds—** If the [Oversight Board](/usc/48/2104.md?p=17) determines in its sole discretion that any funds transferred under this subsection exceed the amounts required for the [Oversight Board](/usc/48/2104.md?p=17)’s operations as established pursuant to [subsection (a)](#a), any such excess funds shall be periodically remitted to the [territorial government](/usc/48/2104.md?p=18).

## Source credit

(Pub. L. 114–187, title I, § 107, June 30, 2016, 130 Stat. 562.)