HR 7409 117th Congress House Government Operations and Politics

TRUST for Puerto Rico Act of 2022

Introduced: April 5, 2022 Introduced by: Torres, Ritchie Democratic · New York See on congress.gov

Everywhere this bill has been 3 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Nov 1, 2022

Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.

Apr 5, 2022

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.

Apr 5, 2022

Introduced in House

Plain-English summary Congressional Research Service

Territorial Relief Under Sustainable Transitions for Puerto Rico Act of 2022 or the TRUST for Puerto Rico Act of 2022

This bill modifies the conditions for the termination of the oversight board for Puerto Rico.

Specifically, the oversight board must terminate not later than 90 days after certification by the board for at least two consecutive fiscal years that (1) the territorial government has developed its budgets in accordance with modified accrual accounting standards; and (2) the expenditures made by the territorial government during each fiscal year did not exceed its revenues, as determined in accordance with such standards and without regard to whether the applicable budget provides for the payment of debt service.

The bill also sets forth provisions regarding the transition of oversight from an oversight board to a territorial government.

What's happening now November 1, 2022

Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.

Committees of jurisdiction 3