Summary:
Puerto Rico Oversight, Management, and Economic Stability Act or PROMESA

This bill addresses Puerto Rico's debt by establishing an oversight board, a process for restructuring debt, and expedited procedures for approving critical infrastructure projects.

(Sec. 2) The effective date of this bill is the date of enactment. Title III (Adjustments of Debts) only applies to cases commenced under it on or after the date of enactment. Titles III and VI (Creditor Collective Action) apply to all debts, claims, and liens, regardless of the creation date.

(Sec. 3) If any provision of the bill is held invalid, the remainder of the bill is not affected. Title III is not severable from Title I (Establishment and Organization of Oversight Board) and Title II (Responsibilities of Oversight Board), and Titles I and II are not severable from Title III.

(Sec. 4) This bill prevails over any provision of territory law, state law, or regulation that is inconsistent with this bill. (The territories referred to in this bill include Puerto Rico, Guam, American Samoa, the Commonwealth of the Northern Mariana Islands, and the U.S. Virgin Islands.)

(Sec. 5) This section defines terms used in this bill.

(Sec. 6) This section specifies where the bill should be placed in the U.S. Code.

(Sec. 7) Nothing in the bill should be construed as impairing or relieving a territorial government or instrumentality from compliance with federal laws or requirements or territorial laws and requirements implementing a federally authorized or federally delegated program protecting the health, safety, or environment of persons in the territory.

TITLE I--ESTABLISHMENT AND ORGANIZATION OF OVERSIGHT BOARD

(Sec. 101) This section establishes a Financial Oversight and Management Board for Puerto Rico. The purpose of the board is to provide a method for a covered territory to achieve fiscal responsibility and access to the capital markets. The board must be created as an entity within the territorial government for which it is established and must not be considered to be a part of the federal government.

This section provides the board with authority to oversee territorial instrumentalities. The bill specifies that a territorial instrumentality is any political subdivision, public agency, instrumentality, or public corporation of a territory, and that term should be broadly construed to effectuate the purposes of the bill.

The board may require instrumentalities to establish fiscal plans and budgets in accordance with this bill. The board may also require the governor to submit reports regarding instrumentalities and include the budgets of certain instrumentalities in the territory budget.

This section sets forth procedures and requirements for the board regarding:

 the appointment and qualifications of members of the board, designating a chair, terms of service, and filling vacancies. This section also specifies procedures for adopting bylaws for conducting the business of the board. An affirmative vote of the majority of the board is required to approve a fiscal plan or a budget, cause legislative acts not to be enforced, or approve or disapprove an infrastructure project as a critical project.

The governor of a territory or a designee is an ex officio member of the board without voting rights. With the approval of a majority of its members, the board may conduct its business in an executive session that is closed to the public and consists solely of voting members and any professionals that the board determines to be necessary.

(Sec. 102) The board must have an office in the covered territory and additional offices as it deems necessary. Federal agencies may provide facilities and equipment for the board.

(Sec. 103) The board may hire an executive director and staff. Federal agencies and territorial governments may detail employees to the board. The executive director and staff of the board may be appointed and paid without regard to territorial or federal laws governing appointments and salaries. The board is exempt from procurement laws of the covered territory.

(Sec. 104) The powers of the board include:

 holding hearings and sessions to take testimony and receive evidence; obtaining official data from the territorial and federal government; obtaining creditor information; accepting gifts, bequests, and devises of services or property; issuing subpoenas; entering into contracts; enforcing territorial laws prohibiting public sector employees from participating in a strike or lockout; certifying voluntary agreements between creditors and debtors; protecting certain preexisting voluntary restructuring agreements; filing a petition to restructure or to submit or modify a plan of adjustment on behalf of a debtor; seeking judicial enforcement of its authority; imposing penalties for violations of valid orders of the board; ensuring prompt and efficient payment of taxes through electronic reporting, payment, and auditing technologies; requesting administrative support services from federal agencies; and investigating the disclosure and selling practices in connection with the purchase of bonds issued by a covered territory. (Sec. 105) The board, its members, and its staff are exempt from liability resulting from actions taken to implement this bill.

(Sec. 106) Except for actions arising out of Title III or out of the board's issuance of a subpoena, any action arising out of this bill must be brought in the U.S. district court for the covered territory or the U.S. District Court for the District of Hawaii if the territory does not have a district court. The bill sets forth requirements for appeal, the timing of relief, and expedited consideration for matters relating to this bill. The U.S. district court does not have jurisdiction to review challenges to the board's certification determinations.

(Sec. 107) The board must submit an annual budget to the President, Congress, and the territory's governor and legislature. The territorial government must provide specified initial funding for the board and designate a dedicated funding source for the board that is not subject to subsequent legislative appropriations.

(Sec. 108) The territorial government may not exercise control over the board or enact, implement, or enforce any legislation, policy, or rule that would impair the purposes of this bill.

(Sec. 109 The members and staff of the board are subject to federal conflict of interest and financial disclosure requirements.

TITLE II--RESPONSIBILITIES OF OVERSIGHT BOARD

This title establishes the process for the submission, approval, and certification of fiscal plans and budgets for Puerto Rico and its territorial instrumentalities.

(Sec. 201) The board must provide the governor of the territory with a schedule for the process of development, submission, approval, and certification of fiscal plans. A plan must cover a period of at least five years and provide a method to achieve fiscal responsibility and access to the capital markets.

The fiscal plan must:

 provide specified estimates, forecasts, and analysis of revenues, expenditures, and debt; ensure the funding of essential public services; provide adequate funding for public pension systems; provide for the elimination of structural deficits; provide for a debt burden that is sustainable in years in which a stay under this bill is not in effect; improve fiscal governance, accountability, and internal controls; enable the achievement of fiscal targets; provide for capital expenditures and investments necessary to promote economic growth; adopt appropriate recommendations submitted by the board; include additional information the board deems necessary; prevent certain transfers or loans of assets, resources, or funds of a territorial instrumentality; and respect lawful priorities and liens in effect prior to the enactment of this bill. This section establishes procedures for the review, approval, and certification of the fiscal plan by the board. If the governor fails to submit a fiscal plan that satisfies the requirements, the board may develop and submit the fiscal plan to the governor and legislature. The governor and board may also work collaboratively to develop a fiscal plan.

(Sec. 202) The board must submit to the governor and legislature revenue forecasts and a schedule for developing, submitting, approving, and certifying budgets. The budget must be developed in accordance with the fiscal plan and certified by the board. If the governor and legislature fail to develop certifiable budgets within the established deadline, the board must develop the budget for the territory or territorial instrumentality for that fiscal year. The board, the governor, and the legislature may also work collaboratively to develop a budget.

(Sec. 203) The governor must submit to the board quarterly reports including the actual revenues, expenditures, and cash flow of the territorial government. If the data is inconsistent with the certified budget, the board must notify the governor and provide the territorial government with an opportunity to explain or correct the inconsistency. If the government fails to correct the inconsistency within an established timeframe, the board must make budget reductions to ensure the quarterly budget aligns with the certified budget.

(Sec. 204) The governor must submit each enacted territorial law to the board with a cost estimate and a certification that the law is consistent with the fiscal plan. If the law is inconsistent with the plan or is missing a cost estimate, the board may take such actions as it considers necessary, including preventing the enforcement or application of the law.

The board must work with the territorial government to promote compliance with laws that require agencies and instrumentalities of the territorial government to maintain a registry of all contracts executed. The board may establish policies to require prior board approval of certain contracts, executive orders, rules, and regulations.

A territory may not enact new laws authorizing budgetary transfers between instrumentalities during the time between the enactment of this bill and the appointment of the board. Transfers that occur during this period are subject to review and reversal by the board.

 Upon appointment of its members, the board may review and, in its discretion, rescind certain territorial laws that were enacted during specified time periods and alter pre-existing priorities of creditors in a manner outside the ordinary course of business or inconsistent with the territory's constitution or laws as of specified dates.

The board may not impede territorial actions taken to implement certain federal programs, requirements, and standards.

(Sec. 205) The board may submit recommendations to the governor or the legislature for actions to ensure compliance with the fiscal plan, or to otherwise promote the financial stability, economic growth, management responsibility, and service delivery efficiency of the territorial government. The governor or legislature must notify the board as to whether it will adopt the recommendations, provide an implementation plan for recommendations that will be adopted, and provide an explanation for the recommendations that will not be adopted.

(Sec. 206) Prior to issuing a debt restructuring certification regarding an entity, the board must determine that:

 the entity has made good-faith efforts to reach a consensual restructuring with creditors; the entity has adopted procedures necessary to deliver timely audited financial statements, and made public draft financial statements and other information sufficient for any interested person to make an informed decision with respect to a possible restructuring; a fiscal plan certified by the board is in place; and either no order approving a qualifying modification has been entered into or an order has been entered into and the entity is unable to make its debt payments notwithstanding the modification. (Sec. 207) A territorial government may not issue debt, guarantee debt, or enter into other transactions with respect to its debt without the approval of the board.

 (Sec. 208) The board must submit to the President, Congress, the governor, and the legislature annual reports that describe the progress the territorial government has made in meeting the objectives of the bill, the assistance provided by the board to the territorial government, recommendation for changes to federal laws, the use of funds by the board, and any other activities the board deems necessary. The board must also submit specified reports regarding discretionary tax abatement agreements and cash flow.

(Sec. 209) The board terminates when it certifies that: (1) the territorial government has adequate access to short- and long- term credit markets at reasonable rates to meet its borrowing needs; and (2) for at least four consecutive years, the government has developed its budgets using modified accrual accounting standards and has achieved balanced budgets.

(Sec. 210) The full faith and credit of the United States is not pledged for any bond issued by the covered territory while an oversight board is in effect. Any claim to which the United States is determined to be liable is subject to the appropriations process. No federal funds are authorized by this bill for the payment of any liability of the territorial government.

(Sec. 211) If the board determines that a pension system of the territorial government is materially underfunded, the board must conduct an analysis prepared by an independent actuary of the pension system to assist the board in evaluating the fiscal and economic impact of the pension cash flows.

(Sec. 212) The board may intervene in any litigation filed against the territorial government and seek injunctive relief, including a stay of litigation.

TITLE III--ADJUSTMENTS OF DEBTS

This title establishes a process for the adjustment of debts by a territorial government or an instrumentality of a territorial government.

(Sec. 301) This section makes specified sections from the federal bankruptcy code applicable to this title and defines terms.

(Sec. 302) A territory or territorial instrumentality is eligible to be a debtor under this title if it is subject to an oversight board and has been certified by the board.

(Sec. 303) Subject to the limitations set forth in Titles I and II, this title does not prohibit a territory from exercising political and governmental powers over itself and its instrumentalities. This section prohibits territorial laws prescribing a method of composition or moratorium on the indebtedness of the territory or its instrumentalities to a non-consenting creditor. It also preempts unlawful executive orders that: (1) alter, amend, or modify the rights of holders of debt; or (2) divert funds from a territorial instrumentality to either the territory or another territorial instrumentality.

(Sec. 304) The board may initiate a proceeding to restructure the debt of an entity by filing a petition in district court. The section establishes procedures related to the petition. It permits the joint filing of petitions for debtors if the debtors are affiliated and provides for joint administration of affiliated debtor cases.

(Sec. 305) Unless the board consents or the actions are permitted in the plan of adjustment, a court may not interfere with the political or governmental powers of the debtor, the property or revenues of the debtor, or the use or enjoyment by the debtor of any income-producing property.

(Sec. 306) This section establishes original and exclusive jurisdiction for any case under Title III of this bill with the federal district courts, subject to specified exceptions. The courts may oversee any additional claim or civil cause of action in which the party is involved for which the overseeing court has jurisdiction. The section also establishes procedures and requirements for removal, remands, transfers, and appeals.

(Sec. 307) Venue for restructuring under this title is the federal district court for the covered territory (or territorial instrumentality) or the U.S. District Court for the District of Hawaii if a territory does not have a district court. Subject to the discretion of the board, venue for the case may also be the district court for the jurisdiction in which the board maintains an office that is located outside of the territory.

(Sec. 308) The Chief Justice of the United States must designate a district court judge to preside over the case if the debtor is a territory. For cases in which the territory is not a debtor, the chief judge of the court of appeals must designate a district court judge to conduct the case.

(Sec. 309) A district court may abstain in the interests of justice from hearing a particular proceeding arising in or related to a case under this title.

(Sec. 310) The Federal Rules of Bankruptcy Procedure apply to a case under this title and related civil proceedings.

(Sec. 311) This section exempts a lease to a territory from being treated as an executory contract or unexpired lease solely because the lease is subject to termination for failure of a debtor to appropriate rent.

(Sec. 312) This section specifies that only the board may file a plan of adjustment of the debts of the debtor once it has issued a certification.

(Sec. 313) The board may change or modify a plan of adjustment before the plan is confirmed, as long as the modification meets the requirement of this title.

(Sec. 314) A special taxpayer may object to confirmation of a plan. (Under current law, a special taxpayer is a record owner or holder of title to real property against which a special assessment or special tax has been levied the proceeds of which are the sole source of payment of an obligation issued by the debtor to defray the cost of an improvement relating to the real property.)

A court must confirm the plan if:

 the plan complies with the applicable provisions of the federal bankruptcy code and this title; the debtor is not legally prohibited from undertaking any actions necessary to carry out the plan; the holders of claims will receive cash equal to the allowed amount of the claim unless there is another agreement; any necessary legislative, regulatory, or electoral approvals necessary to carry out a provision of the plan have been obtained or the provision is conditioned on the approval; the plan is feasible and in the best interest of the creditors; and the plan is consistent with the fiscal plan certified by the board. (Sec. 315) This section designates the board as the representative of the debtor and authorizes the board to take any action necessary on behalf of the debtor including the filing of a petition, submitting or modifying a plan of adjustment, or submitting other filings with the court.

(Sec. 316) The court may authorize reasonable payments to professionals connected with a Title III proceeding.

(Sec. 317) A court may permit payment to professionals while the Title III case is pending.

TITLE IV--MISCELLANEOUS PROVISIONS

(Sec. 401) Nothing in the bill is intended to: limit the authority of Congress over the territories; authorize the issuance of subpoenas by the board to judicial officers or employees of territorial courts; or to alter, amend, or abrogate agreements, treaties, or covenants affecting the Northern Mariana Islands or American Samoa.

(Sec. 402) Nothing in this bill restricts Puerto Rico's right to determine its future political status, including by conducting the plebiscite authorized under current law.

(Sec. 403) The bill amends the Fair Labor Standards Act of 1938 to permit the governor of Puerto Rico, subject to the approval of the board, to set a minimum wage less than the federal minimum wage for employees who are under the age of 25 and hired after the enactment of this bill for a period of up to four years or until the termination of the board.

(Sec. 404) This section exempts Puerto Rico from Department of Labor regulations published on July 6, 2015, regarding overtime pay for executive, administrative, professional, outside sales, and computer employees, until: (1) Government Accountability Office (GAO) assesses the impact of applying the regulations to Puerto Rico, and (2) Labor certifies that the rule will not have a negative impact on the economy of Puerto Rico.

(Sec. 405) This section automatically stays all litigation against Puerto Rico and its instrumentalities, as well as any other judicial, administrative or other action or proceedings to enforce or collect claims until the later of six months after the date of enactment or February 15, 2017, subject to specified extensions which may be approved by the board or the U.S. District Court for the District of Puerto Rico.

A district court may grant relief from the stay for parties subject to irreparable damage because of the imposition of the stay. The stay does not authorize the government of Puerto Rico to stop payments on any liability. If the board determines it is feasible, the government must continue to make scheduled interest payments during the stay.

(Sec. 406) This bill amends the Omnibus Insular Areas Act of 1992 to permit the government of Puerto Rico to make purchases through the General Services Administration.

(Sec. 407) Upon the conclusion of the stay, creditors may sue if the government of Puerto Rico transfers property encumbered by liens or security interests between instrumentalities during the tenure of the board in violation of any agreement or applicable law.

(Sec. 408) The GAO must report to Congress on the application and utilization of Small Business Administration (SBA) contracting activities (including contracting activities relating to the SBA's Historically Underutilized Business Zone Empowerment Contracting [HUBZone] program in Puerto Rico).

(Sec. 409) This section establishes within the legislative branch a Congressional Task Force on Economic Growth in Puerto Rico to submit a specified report to Congress.

(Sec. 410) The GAO must submit to Congress a report describing the conditions that led to the level of debt per capita, how the actions of the territorial government improved or impaired the territory's financial conditions, and recommendations to avert future indebtedness of territories and states.

(Sec. 411) The GAO must report to Congress on the public debt of each territory, and the government of each territory must provide the GAO with any materials necessary to carry out this section.

(Sec. 412) This section amends the Small Business Act to exempt Puerto Rico from the 20% population cap that applies to the designation of qualified census tracts in Puerto Rico's metropolitan statistical areas under the SBA HUBZone program. The exemption applies until the earlier of ten years after the SBA begins implementing it, or the date on which the oversight board ceases to exist.

The SBA must develop and implement criteria and guidance on using a risk-based approach to requesting and verifying information from entities applying to be designated or recertified as qualified HUBZone small business concerns. The GAO must assess the SBA's criteria and guidance.

(Sec. 413) Nothing in this bill may be interpreted to restrict: (1) the ability of the Puerto Rico Commission for the Comprehensive Audit of the Public Credit to file its reports, or (2) the review and consideration of the commission's findings by Puerto Rico's government or the oversight board.

TITLE V--PUERTO RICO INFRASTRUCTURE REVITALIZATION

This title establishes a process to provide an expedited permitting and review process for certain infrastructure projects in Puerto Rico.

(Sec. 501) This section provides definitions for terms commonly used in Title V of this bill.

(Sec. 502) This section establishes the position of Revitalization Coordinator under the board. The bill requires the governor to appoint the Revitalization Coordinator based on nominations submitted by the board.

(Sec. 503) The Revitalization Coordinator may recommend to the board projects to be designated as critical projects. To be considered as a critical project, a project sponsor must submit to the Revitalization Coordinator an application including:

 the impact the project will have on an emergency, the availability of immediate private capital, the cost of the project and the amount of government funds needed, the environmental and economic benefits, the status of the project if it is existing or ongoing, and any additional criteria the Revitalization Coordinator may require. The Revitalization Coordinator may require additional details for energy projects. Critical projects approved by the oversight board are eligible for an expedited permitting and review process.

(Sec. 504) This section establishes the Interagency Environmental Subcommittee to evaluate environmental documents required under Puerto Rico law for any critical project within the expedited permitting process established by the Revitalization Coordinator pursuant to this bill.

Puerto Rico's legislature and governor may not hinder the expedited permitting process authorized under this bill. Project sponsors may petition the board if the Revitalization Coordinator or Puerto Rico agencies fail to expedite the project as envisioned by this title. If the coordinator or an agency has failed to comply with the process, the board may direct officials to comply with the process and take necessary enforcement actions.

Critical projects approved prior to the termination of the board must continue to receive expedited service after the termination of the board.

(Sec. 505) At the request of the Revitalization Coordinator, each federal agency with jurisdiction over the permitting, or administrative or environmental review of private or public projects in Puerto Rico must designate a liaison to the Revitalization Coordinator and expedite to the greatest extent possible the completion of any required federal action connected to a critical project.

(Sec. 506) This section provides an expedited judicial review process for any claim brought under Title V.

(Sec. 507) Nothing in this title is intended to change or alter federal legal requirements or laws.

TITLE VI--CREDITOR COLLECTIVE ACTION

(Sec. 601) This section establishes a voluntary process for debt restructuring by debtors and creditors in a territory or territorial instrumentality covered by this bill. The board must divide creditors into pools based on the characteristics of the debt, and each pool may vote on a plan to restructure the debt known as a qualifying modification. If at least two-thirds of the outstanding principal amount of a pool agrees with the plan, the pool may file a petition in court to bind the dissenting bondholders to the modification.

(Sec. 602 This section specifies that in any judicial proceeding regarding this title, U.S. laws apply without regard to any law of any international or foreign jurisdiction.

TITLE VII--SENSE OF CONGRESS REGARDING PERMANENT, PRO-GROWTH FISCAL REFORMS

(Sec. 701) This section expresses the sense of the Congress that any durable solution for Puerto Rico's fiscal and economic crisis should include permanent, pro-growth fiscal reforms that feature, among other elements, a free flow of capital between U.S possessions and the rest of the United States.

management economic stability act bill addresses puerto_rico debt establishing oversight board process restructuring debt expedited procedures approving critical infrastructure projects sec effective date bill date enactment title iii adjustments debts applies cases commenced date enactment creditor collective action apply debts claims liens regardless creation date sec provision bill held invalid remainder bill affected title iii title establishment organization oversight board title responsibilities oversight board titles sec bill prevails provision territory law state law regulation inconsistent bill territories referred bill include puerto_rico guam american_samoa commonwealth_of_the_northern_mariana_islands sec section defines terms bill sec section specifies bill placed code sec bill construed impairing relieving territorial government instrumentality compliance federal laws requirements territorial laws requirements implementing federally authorized federally delegated program protecting health safety environment persons territory title establishment organization oversight board sec section establishes financial oversight purpose board provide method covered territory achieve fiscal responsibility access capital markets board created entity territorial government established considered federal government section provides board authority oversee territorial instrumentalities bill specifies territorial instrumentality political subdivision public agency instrumentality public corporation territory term broadly construed effectuate purposes bill board require instrumentalities establish fiscal plans budgets accordance bill board require governor submit reports instrumentalities include budgets certain instrumentalities territory budget section sets forth procedures requirements board appointment qualifications members board designating chair terms service filling vacancies section specifies procedures adopting bylaws conducting business board affirmative vote majority board required approve fiscal plan budget cause legislative acts enforced approve disapprove infrastructure project critical project governor territory designee member board voting rights approval majority members board conduct business executive session closed public consists solely voting members professionals board determines necessary sec board office covered territory additional offices deems necessary federal agencies provide facilities equipment board sec board hire executive director staff federal agencies territorial governments detail employees board executive director staff board appointed paid regard territorial federal laws governing appointments salaries board exempt procurement laws covered territory sec powers board include holding hearings sessions testimony receive evidence obtaining official data territorial federal government obtaining creditor information accepting gifts bequests devises services property issuing subpoenas entering contracts enforcing territorial laws prohibiting public sector employees participating strike lockout certifying voluntary agreements creditors debtors protecting certain preexisting voluntary restructuring agreements filing petition restructure submit modify plan adjustment behalf debtor seeking judicial enforcement authority imposing penalties violations valid orders board ensuring prompt efficient payment taxes electronic reporting payment auditing technologies requesting administrative support services federal agencies investigating disclosure selling practices connection purchase bonds issued covered territory sec board members staff exempt liability resulting actions taken implement bill sec actions arising title iii board issuance subpoena action arising bill brought district court covered territory territory district court bill sets forth requirements appeal timing relief expedited consideration matters relating bill district court jurisdiction review challenges board certification determinations sec board submit annual budget president congress territory governor legislature territorial government provide specified initial funding board designate dedicated funding source board subject subsequent legislative appropriations sec territorial government exercise control board enact implement enforce legislation policy rule impair purposes bill sec members staff board subject federal conflict interest financial disclosure requirements title responsibilities oversight board title establishes process submission approval certification fiscal plans budgets puerto_rico territorial instrumentalities sec board provide governor territory schedule process development submission approval certification fiscal plans plan cover period years provide method achieve fiscal responsibility access capital markets fiscal plan provide specified estimates forecasts analysis revenues expenditures debt ensure funding essential public services provide adequate funding public pension systems provide elimination structural deficits provide debt burden sustainable years stay bill effect improve fiscal governance accountability internal controls enable achievement fiscal targets provide capital expenditures investments necessary promote economic growth adopt appropriate recommendations submitted board include additional information board deems necessary prevent certain transfers loans assets resources funds territorial instrumentality respect lawful priorities liens effect prior enactment bill section establishes procedures review approval certification fiscal plan board governor fails submit fiscal plan satisfies requirements board develop submit fiscal plan governor legislature governor board work collaboratively develop fiscal plan sec board submit governor legislature revenue forecasts schedule developing submitting approving certifying budgets budget developed accordance fiscal plan certified board governor legislature fail develop budgets established deadline board develop budget territory territorial instrumentality fiscal year board governor legislature work collaboratively develop budget sec governor submit board quarterly reports including actual revenues expenditures cash flow territorial government data inconsistent certified budget board notify governor provide territorial government opportunity explain correct inconsistency government fails correct inconsistency established timeframe board budget reductions ensure quarterly budget certified budget sec governor submit enacted territorial law board cost estimate certification law consistent fiscal plan law inconsistent plan missing cost estimate board actions considers necessary including preventing enforcement application law board work territorial government promote compliance laws require agencies instrumentalities territorial government maintain registry contracts executed board establish policies require prior board approval certain contracts executive orders rules regulations territory enact new laws authorizing budgetary transfers instrumentalities time enactment bill appointment board transfers occur period subject review reversal board appointment members board review discretion rescind certain territorial laws enacted specified time periods alter pre existing priorities creditors manner outside ordinary course business inconsistent territory constitution laws specified dates board impede territorial actions taken implement certain federal programs requirements standards sec board submit recommendations governor legislature actions ensure compliance fiscal plan promote financial stability economic growth management responsibility service delivery efficiency territorial government governor legislature notify board adopt recommendations provide implementation plan recommendations adopted provide explanation recommendations adopted sec prior issuing debt restructuring certification entity board determine entity good faith efforts reach consensual restructuring creditors entity adopted procedures necessary deliver timely audited financial statements public draft financial statements information sufficient interested person informed decision respect possible restructuring fiscal plan certified board place order approving qualifying modification entered order entered entity unable debt payments notwithstanding modification sec territorial government issue debt guarantee debt enter transactions respect debt approval board sec board submit president congress governor legislature annual reports describe progress territorial government meeting objectives bill assistance provided board territorial government recommendation changes federal laws use funds board activities board deems necessary board submit specified reports discretionary tax abatement agreements cash flow sec board terminates certifies territorial government adequate access short- term credit markets reasonable rates meet borrowing needs consecutive years government developed budgets modified accrual accounting standards achieved balanced budgets sec faith credit united_states pledged bond issued covered territory oversight board effect claim united_states determined liable subject appropriations process federal funds authorized bill payment liability territorial government sec board determines pension system territorial government materially board conduct analysis prepared independent actuary pension system assist board evaluating fiscal economic impact pension cash flows sec board intervene litigation filed territorial government seek injunctive relief including stay litigation title iii adjustments debts title establishes process adjustment debts territorial government instrumentality territorial government sec section makes specified sections federal bankruptcy code applicable title defines terms sec territory territorial instrumentality eligible debtor title subject oversight board certified board sec subject limitations set forth titles title prohibit territory exercising political governmental powers instrumentalities section prohibits territorial laws prescribing method composition moratorium indebtedness territory instrumentalities non consenting creditor preempts unlawful executive orders alter amend modify rights holders debt divert funds territorial instrumentality territory territorial instrumentality sec board initiate proceeding restructure debt entity filing petition district court section establishes procedures related petition permits joint filing petitions debtors debtors affiliated provides joint administration affiliated debtor cases sec board consents actions permitted plan adjustment court interfere political governmental powers debtor property revenues debtor use enjoyment debtor income producing property sec section establishes original exclusive jurisdiction case title iii bill federal district courts subject specified exceptions courts oversee additional claim civil cause action party involved overseeing court jurisdiction section establishes procedures requirements removal transfers appeals sec venue restructuring title federal district court covered territory territorial instrumentality territory district court subject discretion board venue case district court jurisdiction board maintains office located outside territory sec chief justice united_states designate district court judge case debtor territory cases territory debtor chief judge court appeals designate district court judge conduct case sec district court abstain interests justice hearing particular proceeding arising related case title sec apply case title related civil proceedings sec section exempts lease territory treated contract unexpired lease solely lease subject termination failure debtor appropriate rent sec section specifies board file plan adjustment debts debtor issued certification sec board change modify plan adjustment plan confirmed long modification meets requirement title sec special taxpayer object confirmation plan current law special taxpayer record owner holder title real property special assessment special tax levied proceeds sole source payment obligation issued debtor defray cost improvement relating real property court confirm plan plan complies applicable provisions federal bankruptcy code title debtor legally prohibited undertaking actions necessary carry plan holders claims receive cash equal allowed claim agreement necessary legislative regulatory electoral approvals necessary carry provision plan obtained provision conditioned approval plan feasible best interest creditors plan consistent fiscal plan certified board sec section designates board representative debtor authorizes board action necessary behalf debtor including filing petition submitting modifying plan adjustment submitting filings court sec court authorize reasonable payments professionals connected title iii proceeding sec court permit payment professionals title iii case pending title miscellaneous provisions sec bill intended limit authority congress territories authorize issuance subpoenas board judicial officers employees territorial courts alter amend agreements treaties covenants affecting northern_mariana_islands american_samoa sec bill restricts puerto_rico right determine future political status including conducting plebiscite authorized current law sec bill amends fair labor standards act permit governor puerto_rico subject approval board set minimum wage federal minimum wage employees age hired enactment bill period years termination board sec section exempts puerto_rico department_of_labor regulations published july overtime pay executive administrative professional outside sales computer employees government accountability office gao assesses impact applying regulations puerto_rico labor certifies rule negative impact economy puerto_rico sec section automatically stays litigation puerto_rico instrumentalities judicial administrative action proceedings enforce collect claims later months date enactment february subject specified extensions approved board district court grant relief stay parties subject irreparable damage imposition stay stay authorize government puerto_rico stop payments liability board determines feasible government continue scheduled interest payments stay sec bill amends omnibus insular areas act permit government puerto_rico purchases general_services_administration sec conclusion stay creditors sue government puerto_rico transfers property liens security interests instrumentalities tenure board violation agreement applicable law sec gao report congress application utilization small_business_administration sba contracting activities including contracting activities relating sba hubzone program puerto_rico sec section establishes legislative branch puerto_rico submit specified report congress sec gao submit congress report describing conditions led level debt capita actions territorial government improved impaired territory financial conditions recommendations avert future indebtedness territories states sec gao report congress public debt territory government territory provide gao materials necessary carry section sec section amends small_business_act exempt puerto_rico population cap applies designation qualified census tracts puerto_rico metropolitan statistical areas sba hubzone program exemption applies earlier years sba begins implementing date oversight board ceases exist sba develop implement criteria guidance risk based approach requesting verifying information entities applying designated qualified hubzone small business concerns gao assess sba criteria guidance sec bill interpreted restrict ability file reports review consideration commission findings puerto_rico government oversight board title puerto rico infrastructure revitalization title establishes process provide expedited permitting review process certain infrastructure projects puerto_rico sec section provides definitions terms commonly title bill sec section establishes position board bill requires governor appoint based nominations submitted board sec revitalization coordinator recommend board projects designated critical projects considered critical project project sponsor submit application including impact project emergency availability immediate private capital cost project government funds needed environmental economic benefits status project existing ongoing additional criteria require require additional details energy projects critical projects approved oversight board eligible expedited permitting review process sec section establishes evaluate environmental documents required puerto_rico law critical project expedited permitting process established pursuant bill puerto_rico legislature governor hinder expedited permitting process authorized bill project sponsors petition board revitalization coordinator puerto_rico agencies fail expedite project title coordinator agency failed comply process board direct officials comply process necessary enforcement actions critical projects approved prior termination board continue receive expedited service termination board sec request federal agency jurisdiction permitting administrative environmental review private public projects puerto_rico designate liaison expedite greatest extent possible completion required federal action connected critical project sec section provides expedited judicial review process claim brought sec title intended change alter federal legal requirements laws title creditor collective action sec section establishes voluntary process debt restructuring debtors creditors territory territorial instrumentality covered bill board divide creditors pools based characteristics debt pool vote plan restructure debt known qualifying modification thirds outstanding principal pool agrees plan pool file petition court bind dissenting bondholders modification sec section specifies judicial proceeding title laws apply regard law international foreign jurisdiction title vii sense congress permanent reforms sec section expresses sense congress durable solution puerto_rico fiscal economic crisis include permanent pro growth fiscal reforms feature elements free flow capital possessions rest united_states


Summary:
(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

U.S. Territories Investor Protection Act of 2016

 This bill amends the Investment Company Act of 1940 to repeal the exemption from its coverage of investment companies created under the laws of Puerto Rico, the Virgin Islands, or any other U.S. possession.

measure amended introduced summary version repeated territories investor protection act bill amends investment company act repeal exemption coverage investment companies created laws puerto_rico virgin_islands possession


Summary: This bill amends the Internal Revenue Code to make permanent the tax deduction for income attributable to domestic production activities in Puerto Rico. (Under current law, the deduction expires on January 1, 2017.)

bill amends internal_revenue_code permanent tax deduction income attributable domestic production activities puerto_rico current law deduction expires january


Summary:
Modernizing Travel to the Marianas Act of 2016

This bill amends the Immigration and Nationality Act to direct the Department of Homeland Security (DHS) to develop and implement a fully automated electronic travel authorization system to collect biographical and other information in order to determine, before travel, the eligibility of, and any law enforcement or security risk of permitting, an alien to travel to Guam or the Commonwealth of the Northern Mariana Islands.

DHS shall establish and collect a fee for the use of such system.

Such system shall be similar to the electronic system for travel authorization to the United States.

modernizing travel act bill amends immigration_and_nationality_act direct department_of_homeland_security dhs develop implement fully automated electronic travel authorization system collect biographical information order determine travel eligibility law enforcement security risk permitting alien travel guam commonwealth northern mariana islands dhs shall establish collect fee use system system shall similar electronic system travel authorization united_states


Summary:
This bill amends the "Joint Resolution to approve the Covenant To Establish a Commonwealth of the Northern Mariana Islands in Political Union with the United States of America" to extend until December 31, 2029, the transition period during which the Department of Homeland Security (DHS) shall regulate immigration in the Commonwealth of the Northern Mariana Islands (CNMI) pending full applicability of U.S. immigration laws to the CNMI.

The annual supplemental vocational education fee currently charged to the employer of each CNMI transition period nonimmigrant worker shall be charged instead to the employer of each temporary worker. The CNMI shall provide the Department of Labor with an annual plan for the expenditure of such funds for U.S. worker job placement.

DHS is authorized to not reduce the annual transitional nonimmigrant worker visa allocation to zero during the transition period if a reduction in the number of available workers would adversely affect the CNMI's economy.

The bill caps the number of transitional nonimmigrant worker visas at 18,000.

An employer shall pay a CW-1 transitional worker: (1) wages that are at least the actual wage level paid by the employer to all other similarly qualified individuals; (2) wages that are at least the prevailing wage level for the occupational classification; or (3) for job classifications without a certified prevailing wage, wages equal to or greater than the mean wage of the three lowest wages within the CNMI's prevailing wage system.

Labor, by April 30, 2027, shall ascertain the CNMI's current and anticipated labor needs and determine whether a five-year extension of the transition program is necessary to ensure the availability of an adequate number of workers.

The bill provides for, and set forth the criteria under which, long-term CNMI residents may be admitted as CNMI permanent residents.

The bill sets forth specified reporting and data collection requirements.

bill amends joint resolution approve united_states_of_america extend december transition period department_of_homeland_security dhs shall regulate immigration commonwealth_of_the_northern_mariana_islands cnmi pending applicability immigration laws cnmi annual supplemental vocational education fee currently charged employer cnmi transition period nonimmigrant worker shall charged instead employer temporary worker cnmi shall provide department_of_labor annual plan expenditure funds worker job placement dhs authorized reduce annual transitional nonimmigrant worker visa allocation zero transition period reduction number available workers adversely affect cnmi economy bill caps number transitional nonimmigrant worker visas employer shall pay transitional worker wages actual wage level paid employer similarly qualified individuals wages prevailing wage level occupational classification job classifications certified prevailing wage wages equal greater mean wage lowest wages cnmi prevailing wage system labor april shall ascertain cnmi current anticipated labor needs determine year extension transition program necessary ensure availability adequate number workers bill provides set forth criteria long term cnmi residents admitted cnmi permanent residents bill sets forth specified reporting data collection requirements


Summary:
Puerto Rico Health Insurance Fairness Act of 2016

This bill amends the Patient Protection and Affordable Care Act to exempt health insurers in jurisdictions where premium subsidies and cost-sharing reductions are not available from the annual fee on health insurers. Currently, premium subsidies and cost-sharing reductions are not available in U.S. territories. The bill reduces the total amount to be collected annually from health insurers by the amount that would have been collected from those jurisdictions.

fairness act bill amends patient_protection affordable care act exempt health insurers jurisdictions premium subsidies cost sharing reductions available annual fee health insurers currently premium subsidies cost sharing reductions available territories bill reduces total collected annually health insurers collected jurisdictions


Summary:
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Northern Mariana Islands Economic Expansion Act

(Sec. 2) This bill: (1) requires the Department of Homeland Security (DHS) to increase the supplemental education fee charged to a prospective employer for each CNMI (Commonwealth of the Northern Mariana Islands)-Only Transitional Worker who is issued a permit during the transition period to U.S. immigration law, (2) allows such a permit for construction occupations to be issued only to extend a permit first issued before October 1, 2015, and (3) caps the number of permits issued for such nonimmigrant workers for FY2017 at 15,000.

measure amended introduced summary expanded action occurred measure northern mariana islands economic expansion act sec bill requires department_of_homeland_security dhs increase supplemental education fee charged prospective employer cnmi commonwealth_of_the_northern_mariana transitional worker issued permit transition period immigration law allows permit construction occupations issued extend permit issued october caps number permits issued nonimmigrant workers fy2017


Summary:
Restoring Medicaid for Compact of Free Association Migrants Act of 2015

 Amends the Personal Responsibility and Work Opportunity Act of 1996 to permit coverage under title XIX (Medicaid) of the Social Security Act for citizens of the Freely Associated States lawfully residing in the United States under the Compacts of Free Association between the United States Government and the Governments of the Federated States of Micronesia, the Republic of the Marshall Islands, and the Republic of Palau.

Permits Medicaid coverage also to lawful residents, in accordance with such Compacts, but only at the option of the governor, of Puerto Rico, the Virgin Islands, Guam, the Northern Mariana Islands, or American Samoa.

Exempts such citizens from the five-year limited eligibility of qualified aliens for federal means-tested public benefits with respect to Medicaid benefits.

compact_of_free_association migrants act amends permit coverage title xix medicaid social security act citizens freely_associated_states lawfully residing united_states compacts_of_free_association united_states_government republic_of_the_marshall_islands republic_of_palau coverage lawful residents accordance compacts option governor puerto_rico virgin_islands guam northern_mariana islands american_samoa exempts citizens year limited eligibility qualified aliens federal means tested public benefits respect medicaid benefits


Summary:
Puerto Rico Medicare Part B Equity Act of 2015

Amends title XVIII (Medicare) of the Social Security Act to repeal the exclusion of residents of Puerto Rico from deemed enrollment under part B (Supplementary Medical Insurance Benefits) and thus apply it to them.

Directs the Secretary of Health and Human Services to provide for a special seven-month enrollment period for such residents.

Requires recalculation of the late enrollment penalty to 15% of the usual penalty for residents of Puerto Rico who are current enrollees or who enroll during a specified transition period.

puerto_rico medicare equity act amends title xviii medicare social security act repeal exclusion residents puerto_rico deemed enrollment apply directs secretary health_and_human_services provide special seven month enrollment period residents requires recalculation late enrollment penalty usual penalty residents puerto_rico current enrollees enroll specified transition period


Summary: This bill amends the Balanced Budget and Emergency Deficit Control Act of 1985 to exempt Indian health facilities and services, programs administered by the Bureau of Indian Affairs, and programs under the Native American Housing Assistance and Self-Determination Act of 1996 from sequestration. Sequestration is a process of automatic, usually across-the-board spending reductions under which budgetary resources are permanently cancelled to enforce specific budget policy goals.

bill amends balanced_budget emergency deficit control act exempt indian health facilities services programs administered bureau_of_indian_affairs programs native_american_housing_assistance self determination act sequestration sequestration process automatic usually board spending reductions budgetary resources permanently cancelled enforce specific budget policy goals


Summary:
Puerto Rico Chapter 9 Uniformity Act of 2015

Amends the federal bankruptcy code to treat Puerto Rico as a state under chapter 9 (Adjustment of the Debts of a Municipality).

uniformity act amends federal bankruptcy code treat puerto_rico state chapter adjustment debts municipality


Summary:
United States-Philippines Security Partnership Enhancement Act of 2015

This bill amends the Arms Export Control Act to extend special foreign military sales status to the Philippines.

security partnership enhancement act bill amends arms_export_control_act extend special foreign military sales status philippines


Summary:
Improving the Treatment of the U.S. Territories Under Federal Health Programs Act of 2015

This bill amends title XIX (Medicaid) of the Social Security Act (SSAct) to: (1) terminate limitations on general Medicaid funding, as well as the specific federal medical assistance percentage, for U.S. territories; (2) extend to additional U.S. territories the authority to waive or modify certain Medicaid requirements; and (3) establish a formula for Medicaid disproportionate share hospital (DSH) payments to the territories.

Federal financial participation shall generally not be available to a territory for medical assistance for an individual whose family income exceeds 100% percent of the official poverty line for a family of that size.

The bill also amends title XVIII (Medicare) of the SSAct to: (1) revise the formula for the Medicare inpatient hospital services payment rate for hospitals in Puerto Rico to increase the applicable federal percentage from 75% to 100%, (2) apply Medicare HITECH (Health Information Technology for Economic and Clinical Health Act) payments to certain hospitals in Puerto Rico, (3) establish a formula element for calculating Medicare DSH payments under the inpatient prospective payment system for certain hospitals in Puerto Rico, (4) allow residents of Puerto Rico to enroll under Medicare hospital services, (5) increase the geographic adjustment practice expense index for Puerto Rico, and (6) alter how U.S territories are treated under Medicare Advantage and the Medicare prescription drug benefit.

improving treatment territories federal health programs act bill amends title xix medicaid social security act ssact terminate limitations general medicaid funding specific federal medical assistance percentage territories extend additional territories authority waive modify certain medicaid requirements establish formula medicaid disproportionate share hospital dsh payments territories federal financial participation shall generally available territory medical assistance individual family income exceeds percent official poverty line family size bill amends title xviii medicare ssact revise formula medicare inpatient hospital services payment rate hospitals puerto_rico increase applicable federal percentage apply payments certain hospitals puerto_rico establish formula element calculating medicare dsh payments inpatient prospective payment system certain hospitals puerto_rico allow residents puerto_rico enroll medicare hospital services increase geographic adjustment practice expense index puerto_rico alter territories treated medicare_advantage medicare prescription drug benefit


Summary:
This bill amends title I (Quality, Affordable Health Care for All Americans) of the Patient Protection and Affordable Care Act to add a definition of “Indian.” This definition includes individuals of Indian descent who are members of an Indian community served by the Indian Health Service and individuals considered by the Department of Health and Human Services to be Indian for purposes of eligibility for Indian health care services, including California Indians, Eskimos, Aleuts, or other Alaska Natives.

Individuals included in the above definition are eligible for special monthly enrollment periods on health insurance exchanges and elimination of cost-sharing under individual health coverage for those whose income is not more than 300% of the poverty line. (Currently, only members of Indian tribes are eligible for these benefits.)

Indians are exempted from the penalty for not maintaining minimum essential health coverage.

bill amends title quality affordable health care americans patient_protection affordable care act add definition indian definition includes individuals indian descent members indian community served indian_health_service individuals considered department_of_health_and_human_services indian purposes eligibility indian health care services including california indians alaska_natives individuals included definition eligible special monthly enrollment periods health insurance exchanges elimination cost sharing individual health coverage income poverty line currently members indian tribes eligible benefits indians exempted penalty maintaining minimum essential health coverage


Summary:
Earned Income Tax Credit and Child Tax Credit Equity for Puerto Rico Act of 2015

This bill amends the Internal Revenue Code to make citizens of Puerto Rico eligible for the federal earned income tax credit and allow them to claim the refundable portion of the child tax credit on the same basis as U.S. taxpayers.

earned income tax credit bill amends internal_revenue_code citizens puerto_rico eligible federal earned income tax credit allow claim refundable portion child tax credit basis taxpayers


Summary:
Territories Medicare Prescription Drug Assistance Equity Act of 2015

This bill amends titles XVIII (Medicare) and XIX (Medicaid) of the Social Security Act to make certain subsidies available to Medicare prescription drug program beneficiaries who reside in Puerto Rico or another U.S. territory. Current law makes such beneficiaries ineligible for premium and cost-sharing subsidies, but establishes a process for U.S. territories to apply for financial assistance with respect to the provision of Medicare prescription drugs. The bill eliminates this process and makes the subsidies available to beneficiaries who reside in a U.S. territory and are otherwise eligible.

territories medicare prescription drug assistance equity act bill amends titles xviii medicare xix medicaid social security act certain subsidies available medicare prescription drug program beneficiaries reside puerto_rico territory current law makes beneficiaries ineligible premium cost sharing subsidies establishes process territories apply financial assistance respect provision medicare prescription drugs bill eliminates process makes subsidies available beneficiaries reside territory eligible


Summary:
(This measure has not been amended since it was reported to the Senate on August 30, 2016. The summary of that version is repeated here.)

Omnibus Territories Act of 2015

(Sec. 2) This bill amends the Supplemental Appropriations Act, 1982, to eliminate the restriction on the use of resettlement and relocation funds by people of the Bikini Atoll for resettlement and relocation to areas only within the Marshall Islands.

The bill limits eligibility for the funds to Bikini people living on Kili and Ejit Islands, but they may use the funds to relocate and resettle outside the Marshall Islands. The use of resettlement funds is subject to the condition that the Department of the Interior submit to Congress a resettlement plan developed in coordination with the Bikini Atoll leadership.

Annual fiscal year expenditures from the resettlement fund may not exceed 90% of its average annual earnings for the preceding five years unless for resettlement purposes outside of the Marshall Islands.

(Sec. 3) To provide and sustain air transportation in American Samoa between the islands of Tutuila and Manu'a, the Department of Transportation may renew a foreign air carrier's emergency air transportation exemption every 180 days (instead of the current 30-day renewal period that still applies to other areas).

(Sec. 4) The bill amends the REAL ID Act of 2005 to provide that citizens of the Republic of the Marshall Islands, the Federated States of Micronesia, and the Republic of Palau who have been admitted as nonimmigrants pursuant to a Compact of Free Association are eligible for driver's licenses or personal identification cards.

measure amended reported senate august summary version repeated omnibus territories act sec bill amends supplemental appropriations act eliminate restriction use resettlement relocation funds people resettlement relocation areas marshall_islands bill limits eligibility funds people living islands use funds relocate resettle outside marshall_islands use resettlement funds subject condition department_of_the_interior submit congress resettlement plan developed coordination atoll leadership annual fiscal year expenditures resettlement fund exceed average annual earnings preceding years resettlement purposes outside marshall_islands sec provide sustain air transportation american_samoa islands department_of_transportation renew foreign air carrier emergency air transportation exemption days instead current day renewal period applies areas sec bill amends real act provide citizens republic_of_the_marshall_islands federated_states micronesia republic_of_palau admitted nonimmigrants pursuant compact_of_free_association eligible driver licenses personal identification cards


Summary:
Puerto Rico Assistance Act of 2015

TITLE I--TAXES

The bill provides for a reduction in employment and self-employment tax rates for qualified residents of Puerto Rico, American Samoa, Guam, the Northern Mariana Islands, and the Virgin Islands during a payroll tax holiday period beginning after December 31, 2015, and ending before January 1, 2021.

TITLE II--PUBLIC PENSIONS

The bill requires reports on: (1) the financial condition of Puerto Rico public pension plans, and (2) state and local government employee pension benefit plans.

The bill amends the Internal Revenue Code to provide for annuity accumulation retirement plans for state and local government employees beginning after 2015.

TITLE III--PUERTO RICO FINANCIAL RESPONSIBILITY AND MANAGEMENT ASSISTANCE AUTHORITY

The bill establishes the Puerto Rico Financial Responsibility and Management Assistance Authority to assist the Commonwealth government of Puerto Rico and its public corporations in achieving financial stability. The Authority shall initiate a control period for either the Commonwealth government or a public corporation by certifying that either such entity: (1) does not have sufficient revenue to meet is debt obligations, (2) has defaulted on a loan or other financial obligation, (3) is unable to meet payroll, (4) has a cash deficit, or (5) fails to make required pension payments. For each year in which the Commonwealth government or a public corporation is in a control period, the Governor of Puerto Rico or the emergency manager of a public corporation shall develop and submit to the Authority a financial plan and budget. A control period terminates when the Authority certifies that the Commonwealth government or its public corporations have adequate access to credit and have been solvent for a specified period.

The bill sets forth standards to promote the financial stability of the Commonwealth government and its public corporations.

The Authority may issue bonds at the request of the governor and pursuant to an act of the Legislative Assembly to raise revenue for the functioning of the Commonwealth government.

The bill establishes the Office of the Chief Financial Officer of Puerto Rico. During a control period the Chief Financial Officer shall assist the governor in preparing financial plans and budgets and shall oversee other financial operations of the Commonwealth government.

TITLE IV--ADDITIONAL REPORTS AND STUDIES

The bill requires: (1) a report on the exclusion of U.S. territories from participation in health care exchanges, and (2) recommendations on the manner in which the federal government should more equitably allocate resources across U.S. territories.

TITLE V--TRANSITION ASSISTANCE

The bill authorizes appropriations, to remain available through FY2016, for use by the Authority to assist the transition of Puerto Rico to financial, fiscal, economic, and health care stability, the cost of which shall be offset by reductions in funding for the Prevention and Public Health Fund.

TITLE VI--TECHNICAL ASSISTANCE

The Department of the Treasury must provide technical assistance to U.S. territories (including Puerto Rico) for improved accounting and disclosure practices.

puerto_rico assistance act title taxes bill provides reduction employment self employment tax rates qualified residents puerto_rico american_samoa guam northern_mariana islands virgin_islands payroll tax holiday period beginning december ending january title public pensions bill requires reports financial condition puerto_rico public pension plans state local government employee pension benefit plans bill amends internal_revenue_code provide annuity accumulation retirement plans state local government employees beginning title iii puerto rico financial responsibility bill establishes assist commonwealth government puerto_rico public corporations achieving financial stability authority shall initiate control period commonwealth government public corporation certifying entity sufficient revenue meet debt obligations defaulted loan financial obligation unable meet payroll cash deficit fails required pension payments year commonwealth government public corporation control period governor puerto_rico emergency manager public corporation shall develop submit authority financial plan budget control period terminates authority certifies commonwealth government public corporations adequate access credit solvent specified period bill sets forth standards promote financial stability commonwealth government public corporations authority issue bonds request governor pursuant act raise revenue functioning commonwealth government bill establishes puerto_rico control period chief financial officer shall assist governor preparing financial plans budgets shall oversee financial operations commonwealth government title additional reports studies bill requires report exclusion territories participation health care exchanges recommendations manner federal government equitably allocate resources territories title transition assistance bill authorizes appropriations remain available fy2016 use authority assist transition puerto_rico financial fiscal economic health care stability cost shall offset reductions funding prevention_and_public_health_fund title technical assistance department_of_the_treasury provide technical assistance territories including puerto_rico improved accounting disclosure practices


Summary:
Puerto Rico Emergency Financial Stability Act of 2015

This bill grants a temporary stay (until April 1, 2016, with specified exceptions) of any litigation, liens, or other collection actions to recover debts owed by the government of the Commonwealth of Puerto Rico and allows relief from such stay only in limited circumstances.

financial stability act bill grants temporary stay april specified exceptions litigation liens collection actions recover debts owed government commonwealth_of_puerto_rico allows relief stay limited circumstances


Summary:
This bill approves, with specified exceptions, the agreement and appendices signed by the United States and the Republic of Palau on September 3, 2010, in connection with the Compact of Free Association between the United States and Palau.

If Palau withdraws more than $5 million from the trust fund set up by the Compact in FY2016, or more than $8 million in FY2017, certain amounts will be withheld from Palau until it reimburses the fund for the total amounts withdrawn that exceeded $5 million in FY2016 or $8 million in FY2017.

 The bill authorizes appropriations to: (1) subsidize postal services to Palau, the Republic of the Marshall Islands, and the Federated States of Micronesia for FY2017-FY2024; and (2) carry out specified federal responsibilities under the Compact through FY2023.

The bill repeals specified offset requirements.

Funding is provided through:

 FY2018 to reduce government arrears of Palau, FY2023 for additional economic assistance, and FY2024 for infrastructure projects. Funding is provided through FY2024 to create an Infrastructure Maintenance Fund for routine and periodic maintenance of major capital improvement projects. (Palau is required to provide specified quarterly amounts for the Fund.)

The bill revises specified passport requirements.

bill approves specified exceptions agreement signed united_states republic_of_palau september connection compact_of_free_association united_states palau palau withdraws million trust fund set compact fy2016 million fy2017 certain amounts withheld palau reimburses fund total amounts withdrawn exceeded million fy2016 million fy2017 bill authorizes appropriations subsidize postal services palau republic_of_the_marshall_islands federated_states micronesia carry specified federal responsibilities compact fy2023 bill repeals specified offset requirements funding provided fy2018 reduce government arrears palau fy2023 additional economic assistance fy2024 infrastructure projects funding provided fy2024 create routine periodic maintenance major capital improvement projects palau required provide specified quarterly amounts fund bill revises specified passport requirements


Summary:
Puerto Rico Recovery Act of 2016

 This bill amends the Internal Revenue Code to make citizens of Puerto Rico eligible for the federal earned income tax credit and allow them to claim the refundable portion of the child tax credit on the same basis as U.S. taxpayers.

Title XIX (Medicaid) of the Social Security Act (SSAct) is amended to terminate the limitations on general Medicaid funding, as well as the specific federal medical assistance percentage (FMAP, or matching rate), beginning FY2017 for Puerto Rico, the Virgin Islands of the United States, Guam, the Northern Mariana Islands, and American Samoa (territories).

The authority to waive or modify certain Medicaid requirements in American Samoa and the Northern Mariana Islands shall now extend as well to Puerto Rico, the U.S. Virgin Islands, and Guam.

Federal financial participation shall not be available to a territory, however, for medical assistance (with certain exceptions) for an individual whose family income exceeds 100% percent of the official poverty line.

The bill prescribes a formula for Medicaid disproportionate share hospital (DSH) payments to the territories beginning FY2017, and revises a formula element for calculating Medicare DSH payments under the inpatient prospective payment system (IPPS) for subsection (d) hospitals in Puerto Rico. (Generally, a subsection [d] hospital is an acute care hospital, particularly one that receives payments under Medicare's IPPS when providing covered inpatient services to eligible beneficiaries.)

The bill repeals the exclusion of Puerto Rico residents from deemed enrollment under part B (Supplementary Medical Insurance Benefits), permitting them now to be deemed enrolled. The Department of Health and Human Services (HHS) shall extend such residents a special seven-month enrollment period. The late enrollment penalty shall be recalculated to 15% of the usual penalty for residents of Puerto Rico who are current enrollees or who enroll during a specified transition period.

HHS shall increase the geographic adjustment practice expense index for Puerto Rico.

The blended benchmark component of payments to Medicare+Choice organizations for an area in a territory under SSAct title XVIII part C (Medicare+Choice) shall be at least 80% of the national average of specified base payment amounts for the year (but never more than the lowest blended benchmark amount).

The bill also eliminates the exclusion from eligibility for premium and cost-sharing subsidies of territory residents otherwise eligible for Medicare part D (Voluntary Prescription Drug Benefit Program) benefits.

HHS shall report to Congress on:

 the treatment of territories under Medicare part D, and the adverse impacts in each territory from practical exclusion from the establishment of American Health Benefit Exchanges or the administration of a federally facilitated exchange.

puerto_rico recovery act bill amends internal_revenue_code citizens puerto_rico eligible federal earned income tax credit allow claim refundable portion child tax credit basis taxpayers title xix medicaid social security act ssact amended terminate limitations general medicaid funding specific federal medical assistance percentage fmap matching rate beginning fy2017 puerto_rico virgin_islands united_states guam northern_mariana islands american_samoa territories authority waive modify certain medicaid requirements american_samoa northern_mariana islands shall extend puerto_rico guam federal financial participation shall available territory medical assistance certain exceptions individual family income exceeds percent official poverty line bill prescribes formula medicaid disproportionate share hospital dsh payments territories beginning fy2017 revises formula element calculating medicare dsh payments inpatient prospective payment system ipps subsection hospitals puerto_rico generally subsection hospital acute care hospital particularly receives payments medicare ipps providing covered inpatient services eligible beneficiaries bill repeals exclusion puerto_rico residents deemed enrollment permitting deemed enrolled department_of_health_and_human_services hhs shall extend residents special seven month enrollment period late enrollment penalty shall recalculated usual penalty residents puerto_rico current enrollees enroll specified transition period hhs shall increase geographic adjustment practice expense index puerto_rico blended benchmark component payments organizations area territory ssact title xviii shall national average specified base payment amounts year lowest blended benchmark bill eliminates exclusion eligibility premium cost sharing subsidies territory residents eligible medicare voluntary prescription drug benefit program benefits hhs shall report congress treatment territories medicare adverse impacts territory practical exclusion establishment administration federally facilitated exchange


Summary:
Puerto Rico Stability Act of 2016

This bill permits the government of Puerto Rico to restructure its debt by using a process that requires it to establish a Fiscal Stability and Reform Board, a Chief Financial Officer, and a fiscal plan.

The Department of the Treasury may provide technical assistance to territories (Puerto Rico, Guam, American Samoa, the Northern Mariana Islands, or the U.S. Virgin Islands) it determines are eligible for assistance relating to fiscal and financial practices.

The bill amends the Omnibus Insular Areas Act of 1992 to permit Puerto Rico to make purchases through the General Services Administration.

Puerto Rico may restructure all of its debts using specified procedures if it passes a resolution to opt-in to the process by establishing a Fiscal Stability and Reform Board to monitor, review, and approve certain fiscal policy decisions. Once Puerto Rico passes the resolution, the bill provides a 12-month initial stay on debt-related litigation to permit Puerto Rico to organize its finances.

The governor: (1) must appoint a Chief Financial Officer, (2) must develop and submit to the board for approval a five-year fiscal plan to restore solvency and fully fund pensions, and (3) may then submit a debt restructuring proposal to be considered using specified procedures.

Puerto Rico Chapter 9 Uniformity Act of 2015

The bill amends the federal bankruptcy code to treat Puerto Rico as a state under chapter 9 (Adjustment of Debts of a Municipality) to permit Puerto Rico to authorize its public corporations to be debtors.

bill permits government puerto_rico restructure debt process requires establish chief financial officer fiscal plan department_of_the_treasury provide technical assistance territories puerto_rico guam american_samoa northern_mariana islands determines eligible assistance relating fiscal financial practices bill amends omnibus insular areas act permit puerto_rico purchases general_services_administration puerto_rico restructure debts specified procedures passes resolution opt process establishing monitor review approve certain fiscal policy decisions puerto_rico passes resolution bill provides month initial stay debt related litigation permit puerto_rico organize finances governor appoint chief financial officer develop submit board approval year fiscal plan restore solvency fully fund pensions submit debt restructuring proposal considered specified procedures puerto rico chapter uniformity act bill amends federal bankruptcy code treat puerto_rico state chapter adjustment debts municipality permit puerto_rico authorize public corporations debtors


Summary:
Territories Relief Act

This bill allows a territory (the Commonwealth of Puerto Rico, Guam, American Samoa, the Commonwealth of the Northern Mariana Islands, or the U.S. Virgin Islands), or a municipality of a territory, to petition the bankruptcy court for the judicial district in which it is located to effect a plan to adjust its debts.

The chief judge of the court of appeals for the circuit of the district in which the case is commenced shall designate the bankruptcy judge to conduct the case.

territories relief act bill allows territory commonwealth_of_puerto_rico guam american_samoa commonwealth_of_the_northern_mariana_islands municipality territory petition bankruptcy court judicial district located effect plan adjust debts chief judge court appeals circuit district case commenced shall designate bankruptcy judge conduct case


Summary:
Filipino Veterans Fairness Act of 2016

 This bill deems certain service performed before July 1, 1946, in the organized military forces of the Philippines and the Philippine Scouts to be active military service for purposes of eligibility for veterans' benefits through the Department of Veterans Affairs (VA).

 The VA shall, in determining eligibility under this Act, take into account any relevant service documentation, including documentation other than the Missouri List (the list of all discharged and deceased veterans from the 20th century).

filipino veterans fairness act bill deems certain service performed july organized military forces philippines philippine_scouts active military service purposes eligibility veterans benefits department_of_veterans_affairs shall determining eligibility act account relevant service documentation including documentation list discharged deceased veterans 20th century


Summary:
Puerto Rico Humanitarian Relief and Reconstruction Act

This bill establishes a Puerto Rico Reconstruction Finance Corporation to accept applications from the government of Puerto Rico or its municipalities to restructure their bond debts through a process under which: (1) the corporation will purchase the bonds from bond holders at the price the holder paid for the bond, and (2) the par value of each bond is reduced to the last price paid for the bond. Impairment of pension benefits is not permitted.

 The board of the corporation must consist of six members appointed by the President from lists submitted by Puerto Rico's legislature and governor and one member selected in the sole discretion of the President, each of whom must reside in, and have expertise in the economy, history, and government of, Puerto Rico.

The corporation may: (1) make expenditures to address Puerto Rico's humanitarian crisis and restore economic growth; (2) authorize lending activities; and (3) negotiate with Puerto Rico or its municipalities that have defaulted on bonds over budgets, revenues, and appropriations.

The bill expresses the sense of Congress that: (1) the Board of Governors of the Federal Reserve System has the authority to provide emergency financing to Puerto Rico to facilitate an orderly restructuring of its debt, (2) the Puerto Rico government should set aside any debt held by Puerto Rico that is found by the Commission for the Comprehensive Audit of Puerto Rico's Public Debt to have been acquired in violation of the Puerto Rico constitution, and (3) Puerto Rico should suggest that debt holders seek redress from investment banks that helped market and sell any unconstitutional instruments.

The bill amends the federal bankruptcy code to treat Puerto Rico as a state under chapter 9 (Adjustment of Debts of a Municipality) to permit Puerto Rico to authorize its public corporations to be debtors.

The bill amends the Social Security Act to: (1) eliminate certain funding caps under title XI (General Provisions, Peer Review, Administrative Simplification) and the Federal Medical Assistance Percentage limitation under title XIX (Medicaid) for Puerto Rico; (2) apply the 100% Federal Poverty Level limitation to Puerto Rico under title XIX; (3) extend application of the Medicare payment rate floor to certain primary care services in Puerto Rico under the Medicaid program; (4) repeal the exclusion of residents of Puerto Rico from deemed enrollment under part B (Supplementary Medical Insurance Benefits) of title XVIII (Medicare) and, thus, automatically enroll them; and (5) make permanent certain title XVIII part B incentive payments for primary care services in Puerto Rico.

The Centers for Disease Control and Prevention must update the National Environmental Public Health Tracking Network to include Puerto Rico, including Vieques. The Department of Health and Human Services must award a grant to an institution of higher education in Puerto Rico to study the environmental and biological health of Vieques residents.

The bill establishes grant programs and revises standards for renewable energy and energy efficient commercial buildings and homes in Puerto Rico. It provides additional funding to the Department of Transportation (DOT) through FY2026 for the Puerto Rico Highway Program.

Through FY2021 for Puerto Rico, the bill provides additional funding for:

 DOT infrastructure investments under the Transportation Investment Generating Economic Recovery (TIGER) discretionary grant program, passenger and freight rail projects, the Airport Improvement Program, and ferry boats and terminals; Environmental Protection Agency capitalization grants for Puerto Rico water pollution control revolving funds and drinking water treatment revolving loan funds; Rural Utilities Service programs; Department of Agriculture rural energy programs; U.S. Army Corps of Engineers projects; Federal Emergency Management Agency (FEMA) flood reduction projects; broadband and telecommunications programs; and housing and community development. The Internal Revenue Code is amended to make citizens of Puerto Rico eligible for the federal earned income tax credit and allow them to claim the refundable portion of the child tax credit on the same basis as U.S. taxpayers.

Before 2019, the State Elections Commission of Puerto Rico must provide for a binding vote or series of votes on whether Puerto Rico should:

 be admitted as a U.S. state, become a sovereign nation, or continue the status quo as a U.S. commonwealth territory and reform its government. If a majority votes for admission as a U.S. state, the President must issue a proclamation to begin a transition process that will culminate in such admission within four years after the vote is certified.

reconstruction act bill establishes accept applications government puerto_rico municipalities restructure bond debts process corporation purchase bonds bond holders price holder paid bond value bond reduced price paid bond impairment pension benefits permitted board corporation consist members appointed president lists submitted puerto_rico legislature governor member selected sole discretion president reside expertise economy history government puerto_rico corporation expenditures address puerto_rico humanitarian crisis restore economic growth authorize lending activities negotiate puerto_rico municipalities defaulted bonds budgets revenues appropriations bill expresses sense congress board_of_governors federal_reserve_system authority provide emergency financing puerto_rico facilitate orderly restructuring debt puerto_rico government set aside debt held puerto_rico found commission acquired violation puerto_rico constitution puerto_rico suggest debt holders seek redress investment banks market sell unconstitutional instruments bill amends federal bankruptcy code treat puerto_rico state chapter adjustment debts municipality permit puerto_rico authorize public corporations debtors bill amends social security act eliminate certain funding caps title general_provisions peer_review administrative simplification limitation title xix medicaid puerto_rico apply limitation puerto_rico title xix extend application medicare payment rate floor certain primary care services puerto_rico medicaid program repeal exclusion residents puerto_rico deemed enrollment title xviii medicare automatically enroll permanent certain title xviii incentive payments primary care services puerto_rico centers_for_disease_control_and_prevention update include puerto_rico including department_of_health_and_human_services award grant institution higher education puerto_rico study environmental biological health residents bill establishes grant programs revises standards renewable energy energy efficient commercial buildings homes puerto_rico provides additional funding department_of_transportation dot fy2026 fy2021 puerto_rico bill provides additional funding dot infrastructure investments discretionary grant program passenger freight rail projects ferry boats terminals environmental_protection_agency capitalization grants puerto_rico water pollution control revolving funds drinking water treatment revolving loan funds rural_utilities_service programs department_of_agriculture rural energy programs projects federal_emergency_management_agency fema flood reduction projects broadband telecommunications programs housing community development internal_revenue_code amended citizens puerto_rico eligible federal earned income tax credit allow claim refundable portion child tax credit basis taxpayers puerto_rico provide binding vote series votes puerto_rico admitted state sovereign nation continue status commonwealth territory reform government majority votes admission state president issue proclamation begin transition process admission years vote certified


Summary:
Territory Health Insurance Tax Relief Act of 2016

This bill amends the Patient Protection and Affordable Care Act to exclude premiums paid by residents of U.S. territories from a health insurer's net premiums when calculating the annual fee on the health insurer, thereby lowering the fee for health insurers that collect such premiums. These premiums are still included in total health premiums when calculating the annual fee on health insurers, thus the total amount collected annually from health insurers is reduced.

bill amends patient_protection affordable care act exclude premiums paid residents territories health insurer net premiums calculating annual fee health insurer lowering fee health insurers collect premiums premiums included total health premiums calculating annual fee health insurers total collected annually health insurers reduced


Summary:
U.S. Territories Investor Protection Act of 2016

 This bill amends the Investment Company Act of 1940 to repeal the exemption from its coverage of investment companies created under the laws of Puerto Rico, the Virgin Islands, or any other U.S. possession.

bill amends investment company act repeal exemption coverage investment companies created laws puerto_rico virgin_islands possession


Summary:
Economic Mobility for Productive Livelihoods and Expanding Opportunity Act of 2016 or the EMPLEO Act

This bill amends the Fair Labor Standards Act of 1938 to require every employer to pay to each of his or her eligible Puerto Rican employees who in any workweek are engaged in commerce and who receive qualified wage subsidy payments minimum wages of $5.00 an hour, determined without regard to those wage subsidy payments.

The bill amends the Internal Revenue Code to treat certain employers who make qualified wage subsidy payments to eligible Puerto Rico employees as having paid payroll taxes in an amount equal to the wage subsidy payment.

 An “eligible Puerto Rico employee” is any individual who: (1) is a U.S. citizen, (2) has a Social Security number, and (3) certifies to the employer that he or she is a resident of Puerto Rico and intends to remain a resident for at least the next six months.

 A “qualified wage subsidy payment” is a payment equal to 50% of the excess (if any) of: (1) the median hourly wage for Puerto Rico ($10 for 2017 and 2018), over (2) the hourly wage paid to the eligible Puerto Rico employee.

 The bill sets forth reporting requirements for participating employers and requirements for determining the median hourly wage for Puerto Rico after 2018.

economic mobility productive expanding opportunity act act bill amends fair labor standards act require employer pay eligible puerto employees workweek engaged commerce receive qualified wage subsidy payments minimum wages hour determined regard wage subsidy payments bill amends internal_revenue_code treat certain employers qualified wage subsidy payments eligible puerto_rico employees having paid payroll taxes equal wage subsidy payment eligible puerto_rico employee individual citizen social_security number certifies employer resident puerto_rico intends remain resident months qualified wage subsidy payment payment equal excess median hourly wage puerto_rico hourly wage paid eligible puerto_rico employee bill sets forth reporting requirements participating employers requirements determining median hourly wage puerto_rico


Summary: Conveys to the U.S. Virgin Islands specified submerged lands in the area between the island of Saint Croix and the islands of Saint Thomas and Saint John. States that for purposes of U.S. laws, except as otherwise provided by international law or international agreement in force for the United States, the U.S. Virgin Islands' territorial waters shall extend 12 miles seaward from the line of ordinary low water along that portion of the coast which is in direct contact with the open sea and the line marking the seaward limit of inland waters.

conveys specified submerged lands area island islands saint_thomas states purposes laws provided international law international agreement force united_states territorial waters shall extend miles seaward line ordinary low water portion coast direct contact open sea line marking seaward limit inland waters


Summary: Central Idaho Economic Development and Recreation Act - Requires the Secretary of Agriculture, acting through the Chief of the Forest Service, and the Secretary of the Interior, acting through the Director of the Bureau of Land Management (BLM), to convey specified parcels of federal land to certain counties and cities in central Idaho. Requires the Secretary of the Interior to convey, to the state of Idaho a specified parcel or parcels of BLM land, including roads thereon, for a motorized recreation park. Designates specified parcels of federal land in central Idaho as wilderness areas to be managed as components of the National Wilderness Preservation System (NWPS). Repeals existing law requiring review of portions of the Sawtooth National Recreation Area (SNRA) for possible inclusion in the NWPS. Establishes the Boulder-White Cloud Management Area on federal lands in the Challis National Forest, the Sawtooth National Forest, SNRA, and Challis District of the BLM that are not designated as wilderness areas under this Act.

secretary agriculture acting chief forest_service secretary interior acting director bureau_of_land_management blm convey specified parcels federal land certain counties cities central idaho requires secretary interior convey state idaho specified parcel parcels blm land including roads thereon motorized recreation park designates specified parcels federal land central idaho wilderness areas managed components national_wilderness_preservation_system nwps repeals existing law requiring review portions snra possible inclusion nwps establishes federal lands snra blm designated wilderness areas act


Summary: Amends the Wild Free-Roaming Horses and Burros Act to: (1) prohibit the sale or transfer of any free-roaming horse or burro or its remains on U.S. public lands for consideration for processing into commercial products; and (2) repeal provisions permitting the sale of certain excess animals or their remains and excluding from criminal fine or imprisonment a person who processes or permits the processing of such animals' remains.

amends wild free roaming horses burros_act prohibit sale transfer free roaming horse remains public lands consideration processing commercial products repeal provisions permitting sale certain excess animals remains excluding criminal fine imprisonment person processes permits processing animals remains