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48 U.S.C. § 2213 — Report
Federal law — U.S. Code and appendices · legal_authorities
Not later than 18 months after June 30, 2016, the Comptroller General shall submit a report to the Committee on Natural Resources of the House of Representatives and the Committee on Energy and Natural Resources of the Senate describing—
(1) the conditions which led to the level of debt, which should be analyzed, per capita and based upon overall economic activity;
(2) how actions of the territorial government improved or impaired the territory’s financial conditions; and
(3) recommendations on non-fiscal actions, or policies that would not imperil America’s homeland and national security, that could be taken by Congress or the Administration to avert future indebtedness of territories, while respecting sovereignty and constitutional parameters.
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Source location: Title 48, Chapter 20, § 2213; chapter-020-puerto-rico-oversight-management-and-economic-stability.md
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Not later than 18 months after June 30, 2016, the Comptroller General shall submit a report to the Committee on Natural Resources of the House of Representatives and the Committee on Energy and Natural Resources of the Senate describing—
(1) the conditions which led to the level of debt, which should be analyzed, per capita and based upon overall economic activity;
(2) how actions of the territorial government improved or impaired the territory’s financial conditions; and
(3) recommendations on non-fiscal actions, or policies that would not imperil America’s homeland and national security, that could be taken by Congress or the Administration to avert future indebtedness of territories, while respecting sovereignty and constitutional parameters.
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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
Page 382
TITLE 48—TERRITORIES AND INSULAR POSSESSIONS
§ 2213
1 See References in Text note below.
(d) Removal
(1) In general
The Revitalization Coordinator may be re-
moved for any reason, in the Oversight Board’s
discretion.
(2) Termination of position
Upon the termination of the Oversight Board
pursuant to section 2149 of this title, the posi-
tion of the Revitalization Coordinator shall
terminate.
(Pub. L. 114–187, title V, § 502, June 30, 2016, 130
Stat. 597.)
§ 2213. Critical Projects
(a) Identification of projects
(1) Project submission
Any Project Sponsor may submit, so long as
the Oversight Board is in operation, any exist-
ing, ongoing, or proposed project to the Revi-
talization Coordinator. The Revitalization Co-
ordinator shall require such submission to in-
clude—
(A) the impact the project will have on an
emergency;
(B) the availability of immediate private
capital or other funds, including loan guar-
antees, loans, or grants to implement, oper-
ate, or maintain the project;
(C) the cost of the project and amount of
Puerto Rico government funds, if any, nec-
essary to complete and maintain the project;
(D) the environmental and economic bene-
fits provided by the project, including the
number of jobs to be created that will be
held by residents of Puerto Rico and the ex-
pected economic impact, including the im-
pact on ratepayers, if applicable;
(E) the status of the project if it is existing
or ongoing; and
(F) in addition to the requirements found
in subparagraphs (A) through (E), the Revi-
talization Coordinator may require such
submission to include any or all of the fol-
lowing criteria that assess how the project
will—
(i) reduce reliance on oil for electric gen-
eration in Puerto Rico;
(ii) improve performance of energ
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