S 3262
115th Congress
Senate
Government Operations and Politics
Accounting and auditing
Appropriations
Bank accounts, deposits, capital
Bankruptcy
Budget deficits and national debt
Caribbean area
Civil actions and liability
Disaster relief and insurance
Employee benefits and pensions
Executive agency funding and structure
Federal district courts
Government liability
Government studies and investigations
Government trust funds
Judicial review and appeals
Jurisdiction and venue
Puerto Rico
Securities
State and local finance
United States Territorial Relief Act of 2018
Introduced: July 25, 2018
Introduced by:
Warren, Elizabeth
Democratic
· Massachusetts
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 25, 2018
Read twice and referred to the Committee on Energy and Natural Resources.
Jul 25, 2018
Introduced in Senate
Plain-English summary
United States Territorial Relief Act of 2018
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, and
- the territory's per capita debt exceeds $15,000.
The bill also provides funding that a special master must allocate to certain creditors whose debts were discharged under this bill.
What's happening now
Read twice and referred to the Committee on Energy and Natural Resources.
Committees of jurisdiction
1