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48 U.S.C. § 2162 — Required reports
Federal law — U.S. Code and appendices · legal_authorities
**(a) Annual report** Not later than 30 days after the last day of each fiscal year, the Oversight Board shall submit a report to the President, Congress, the Governor and the Legislature, describing—
(1) the progress made by the territorial government in meeting the objectives of this chapter during the fiscal year;
(2) the assistance provided by the Oversight Board to the territorial government in meeting the purposes of this chapter during the fiscal year;
(3) recommendations to the President and Congress on changes to this chapter or other Federal laws, or other actions of the Federal Government, that would assist the territorial government in complying with any certified Fiscal Plan;
(4) the precise manner in which funds allocated to the Oversight Board under [section 2127 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title48-section2127&num=0&edition=prelim) and, as applicable, [section 2124(e) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title48-section2124/e&num=0&edition=prelim) have been spent by the Oversight Board during the fiscal year; and
(5) any other activities of the Oversight Board during the fiscal year.
**(b) Report on discretionary tax abatement agreements** Within six months of the establishment of the Oversight Board, the Governor shall submit a report to the Oversight Board documenting all existing discretionary tax abatement or similar tax relief agreements to which the territorial government, or any territorial instrumentality, is a party, provided that—
(1) nothing in this chapter shall be interpreted to limit the power of the territorial government or any territorial instrumentality to execute or modify discretionary tax abatement or similar tax relief agreements, or to enfo
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Source location: Title 48, Chapter 20, § 2162; chapter-020-puerto-rico-oversight-management-and-economic-stability.md
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**(a) Annual report** Not later than 30 days after the last day of each fiscal year, the Oversight Board shall submit a report to the President, Congress, the Governor and the Legislature, describing—
(1) the progress made by the territorial government in meeting the objectives of this chapter during the fiscal year;
(2) the assistance provided by the Oversight Board to the territorial government in meeting the purposes of this chapter during the fiscal year;
(3) recommendations to the President and Congress on changes to this chapter or other Federal laws, or other actions of the Federal Government, that would assist the territorial government in complying with any certified Fiscal Plan;
(4) the precise manner in which funds allocated to the Oversight Board under [section 2127 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title48-section2127&num=0&edition=prelim) and, as applicable, [section 2124(e) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title48-section2124/e&num=0&edition=prelim) have been spent by the Oversight Board during the fiscal year; and
(5) any other activities of the Oversight Board during the fiscal year.
**(b) Report on discretionary tax abatement agreements** Within six months of the establishment of the Oversight Board, the Governor shall submit a report to the Oversight Board documenting all existing discretionary tax abatement or similar tax relief agreements to which the territorial government, or any territorial instrumentality, is a party, provided that—
(1) nothing in this chapter shall be interpreted to limit the power of the territorial government or any territorial instrumentality to execute or modify discretionary tax abatement or similar tax relief agreements, or to enforce compliance with the terms and conditions of any discretionary tax abatement or similar tax relief agreement, to which the territorial government or any territorial instrumentality is a party; and
(2) the members and staff of the Oversight Board shall not disclose the contents of the report described in this subsection, and shall otherwise comply with all applicable territorial and Federal laws and regulations regarding the handling of confidential taxpayer information.
**(c) Quarterly reports of cash flow** The Oversight Board, when feasible, shall report on the amount of cash flow available for the payment of debt service on all notes, bonds, debentures, credit agreements, or other instruments for money borrowed whose enforcement is subject to a stay or moratorium hereunder, together with any variance from the amount set forth in the debt sustainability analysis of the Fiscal Plan under [section 2141(b)(1)(I) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title48-section2141/b/1/I&num=0&edition=prelim).
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Purpose** The purpose of the Oversight Board is to provide a method for a covered territory to achieve fiscal responsibility and access to the capital markets.
**(b) Establishment**
(1) **Puerto Rico** — A Financial Oversight and Management Board is hereby established for Puerto Rico.
(2) **Constitutional basis** — The Congress enacts this chapter pursuant to article IV, section 3 of the Constitution of the United States, which provides Congress the power to dispose of and make all needful rules and regulations for territories.
**(c) Treatment** An Oversight Board established under this section—
(1) shall be created as an entity within the territorial government for which it is established in accordance with this subchapter; and
(2) shall not be considered to be a department, agency, establishment, or instrumentality of the Federal Government.
**(d) Oversight of territorial instrumentalities**
(1) **Designation**
(A) *In general* — An Oversight Board, in its sole discretion at such time as the Oversight Board determines to be appropriate, may designate any territorial instrumentality as a covered territorial instrumentality that is subject to the requirements of this chapter.
(B) *Budgets and reports* — The Oversight Board may require, in its sole discretion, the Governor to submit to the Oversight Board such budgets and monthly or quarterly reports regarding a covered territorial instrumentality as the Oversight Board determines to be necessary and may designate any covered territorial instrumentality to be included in the Territory Budget; except that the Oversight Board may not designate a covered territorial instrumentality to be included in the Territory Budget if applicable territory law does not require legislative approval of such covered ter
Source: Supplied U.S. Code snapshot — release unconfirmed · 48 U.S.C. § 2127
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Federal Points of Contact** At the request of the Revitalization Coordinator and within 30 days of receiving such a request, each Federal agency with jurisdiction over the permitting, or administrative or environmental review of private or public projects in Puerto Rico, shall name a Point of Contact who will serve as that agency’s liaison with the Revitalization Coordinator.
**(b) Federal grants and loans** For each Critical Project with a pending or potential Federal grant, loan, or loan guarantee application, the Revitalization Coordinator and the relevant Point of Contact shall cooperate with each other to ensure expeditious review of such application.
**(c) Expedited reviews and actions of Federal agencies** All reviews conducted and actions taken by any Federal agency relating to a Critical Project shall be expedited in a manner consistent with completion of the necessary reviews and approvals by the deadlines under the Expedited Permitting Process, but in no way shall the deadlines established through the Expedited Permitting Process be binding on any Federal agency.
Source: Supplied U.S. Code snapshot — release unconfirmed · 48 U.S.C. § 2101
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Federal law — U.S. Code and appendices · legal_authorities
Page 369
TITLE 48—TERRITORIES AND INSULAR POSSESSIONS
§ 2163
1 So in original. Probably should be followed by a comma.
(1) Affiliate
The term ‘‘affiliate’’ means, in addition to
the definition made applicable in a case under
this subchapter by subsection (a)—
(A) for a territory, any territorial instru-
mentality; and
(B) for a territorial instrumentality, the
governing territory and any of the other ter-
ritorial instrumentalities of the territory.
(2) Debtor
The term ‘‘debtor’’ means the territory or
covered territorial instrumentality concerning
which a case under this subchapter has been
commenced.
(3) Holder of a claim or interest
The term ‘‘holder of a claim or interest’’,
when used in section 1126 of title 11, made ap-
plicable in a case under this subchapter by
subsection (a)—
(A) shall exclude any Issuer or Authorized
Instrumentality of the Territory Govern-
ment Issuer (as defined under subchapter VI
of this chapter) or a corporation, trust or
other legal entity that is controlled by the
Issuer or an Authorized Territorial Instru-
mentality of the Territory Government
Issuer, provided that the beneficiaries of
such claims, to the extent they are not ref-
erenced in this subparagraph, shall not be
excluded, and that, for each excluded trust
or other legal entity, the court shall, upon
the request of any participant or beneficiary
of such trust or entity, at any time after the
commencement of the case, order the ap-
pointment of a separate committee of credi-
tors pursuant to section 1102(a)(2) of title 11;
and
(B) with reference to Insured Bonds, shall
mean the monoline insurer insuring such In-
sured Bond to the extent such insurer is
granted the right to vote Insured Bonds for
purposes of directing remedies or consenting
to pro
Source: Supplied 2024 U.S. Code historical extraction · 48 U.S.C. § 2162
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