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United States · Bill · HR

H.R. 7409 (117th)

TRUST for Puerto Rico Act of 2022

referredUnited States· United States Congress· EN

Introduced

5 April 2022

Last action

1 November 2022 · Referred

Status

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

Sponsors

Rep. Torres, Ritchie [D-NY-15], Rescom. González-Colón, Jenniffer [R-PR-At Large], Rep. Velázquez, Nydia M. [D-NY-7], Rep. Soto, Darren [D-FL-9], Rep. Grijalva, Raúl M. [D-AZ-7], Rep. Crist, Charlie [D-FL-13], Rep. Espaillat, Adriano [D-NY-13], Rep. Meng, Grace [D-NY-6], Rep. Suozzi, Thomas R. [D-NY-3], Rep. García, Jesús G. "Chuy" [D-IL-4], Rep. Porter, Katie [D-CA-47], Rep. Ocasio-Cortez, Alexandria [D-NY-14], Rep. McGovern, James P. [D-MA-2], Rep. Boyle, Brendan F. [D-PA-2]

Subjects

Taxation, Budget

Source updated

3 January 2025

Taxation · Budget

Summary

Territorial Relief Under Sustainable Transitions for Puerto Rico Act of 2022 or the TRUST for Puerto Rico Act of 2022 This bill modifies the conditions for the termination of the oversight board for Puerto Rico. Specifically, the oversight board must terminate not later than 90 days after certification by the board for at least two consecutive fiscal years that (1) the territorial government has developed its budgets in accordance with modified accrual accounting standards; and (2) the expenditures made by the territorial government during each fiscal year did not exceed its revenues, as determined in accordance with such standards and without regard to whether the applicable budget provides for the payment of debt service. The bill also sets forth provisions regarding the transition of oversight from an oversight board to a territorial government.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 5 April 2022

    Introduced

    Referred to the Committee on Natural Resources, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

    Source: IntroReferral

  2. 5 April 2022

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 5 April 2022

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 1 November 2022

    Referred

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

    Source: Committee

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 5 April 2022

    ViewDownloadOpen at official source

  • Introduced in House (PDF)

    Introduced in House · EN · 5 April 2022

    ViewDownloadOpen at official source

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  • Introduced in House

    summary · EN · 5 April 2022

    Open at official source

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Sponsors

Related records

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Sources

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