48 U.S.C. § 2126 — Treatment of actions arising from chapter

Page 359 TITLE 48—TERRITORIES AND INSULAR POSSESSIONS § 2127 cient payment and administration of taxes through the adoption of electronic reporting, payment and auditing technologies. (n) Administrative support services Upon the request of the Oversight Board, the Administrator of General Services or other ap- propriate Federal agencies shall promptly pro- vide to the Oversight Board, on a reimbursable or non-reimbursable basis, the administrative support services necessary for the Oversight Board to carry out its responsibilities under this chapter. (o) Investigation of disclosure and selling prac- tices The Oversight Board may investigate the dis- closure and selling practices in connection with the purchase of bonds issued by a covered terri- tory for or on behalf of any retail investors in- cluding any underrepresentation of risk for such investors and any relationships or conflicts of interest maintained by such broker, dealer, or investment adviser is as provided in applicable laws and regulations. (p) Findings of any investigation The Oversight Board shall make public the findings of any investigation referenced in sub- section (o). (Pub. L. 114–187, title I, § 104, June 30, 2016, 130 Stat. 558.) Editorial Notes REFERENCES IN TEXT This chapter, referred to in subsecs. (a), (c), (g), (h), (k), and (n), was in the original ‘‘this Act’’, meaning Pub. L. 114–187, June 30, 2016, 130 Stat. 549, known as the Puerto Rico Oversight, Management, and Economic Stability Act and also as PROMESA, which is classified principally to this chapter. For complete classification of this Act to the Code, see Short Title note set out under section 2101 of this title and Tables. § 2125. Exemption from liability for claims The Oversight Board, its members, and its em- ployees shall not be liable for any obligation of or claim against the Oversight Board or its members or employees or the territorial govern- ment resulting from actions taken to carry out this chapter. (Pub. L. 114–187, title I, § 105, June 30, 2016, 130 Stat. 561.) Editorial Notes REFERENCES IN TEXT This chapter, referred to in text, was in the original ‘‘this Act’’, meaning Pub. L. 114–187, June 30, 2016, 130 Stat. 549, known as the Puerto Rico Oversight, Manage- ment, and Economic Stability Act and also as PROMESA, which is classified principally to this chap- ter. For complete classification of this Act to the Code, see Short Title note set out under section 2101 of this title and Tables. § 2126. Treatment of actions arising from chapter (a) Jurisdiction Except as provided in section 2124(f)(2) of this title (relating to the issuance of an order enforc- ing a subpoena), and subchapter III (relating to adjustments of debts), any action against the Oversight Board, and any action otherwise aris- ing out of this chapter, in whole or in part, shall be brought in a United States district court for the covered territory or, for any covered terri- tory that does not have a district court, in the United States District Court for the District of Hawaii. (b) Appeal Notwithstanding any other provision of law, any order of a United States district court that is issued pursuant to an action brought under subsection (a) shall be subject to review only pursuant to a notice of appeal to the applicable United States Court of Appeals. (c) Timing of relief Except with respect to any orders entered to remedy constitutional violations, no order of any court granting declaratory or injunctive re- lief against the Oversight Board, including relief permitting or requiring the obligation, bor- rowing, or expenditure of funds, shall take effect during the pendency of the action before such court, during the time appeal may be taken, or (if appeal is taken) during the period before the court has entered its final order disposing of such action. (d) Expedited consideration It shall be the duty of the applicable United States District Court, the applicable United States Court of Appeals, and, as applicable, the Supreme Court of the United States to advance on the docket and to expedite to the greatest possible extent the disposition of any matter brought under this chapter. (e) Review of Oversight Board certifications There shall be no jurisdiction in any United States district court to review challenges to the Oversight Board’s certification determinations under this chapter. (Pub. L. 114–187, title I, § 106, June 30, 2016, 130 Stat. 562.) Editorial Notes REFERENCES IN TEXT This chapter, referred to in subsecs. (a), (d), and (e), was in the original ‘‘this Act’’, meaning Pub. L. 114–187, June 30, 2016, 130 Stat. 549, known as the Puerto Rico Oversight, Management, and Economic Stability Act and also as PROMESA, which is classified principally to this chapter. For complete classification of this Act to the Code, see Short Title note set out under section 2101 of this title and Tables. § 2127. Budget and funding for operation of Over- sight Board (a) Submission of budget The Oversight Board shall submit a budget for each fiscal year during which the Oversight Board is in operation, to the President, the House of Representatives Committee on Natural Resources and the Senate Committee on Energy and Natural Resources, the Governor, and the Legislature. (b) Funding The Oversight Board shall use its powers with respect to the Territory Budget of the covered