Puerto Rico Stability Act of 2016
Legislative Progress
Momentum (last 30 days)
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0 actions · 0 new cosponsors · 0 votes
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vs 3,548 other S bills in the 114th — cohort avg 43d
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.
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Filing registrants (2)
2016 · fourth_quarter · Marine/Maritime/Boating/Fisheries
H.R. 980/S. 373 - Vessel Incidental Discharge Act - Advocacy in support of passage of the legislation or its inclusion in H.R. 4909/S. 2814 National Defense Authorization Act or H.R. 2028 Further Continuing and Security Assistance Appropriations Act. H.R. 1248/S. 1717 - Delta Queen exemption legislation - Advocacy in support of passage of the legislation, which would allow the Delta Queen to resume operations on the Mississippi River. H.R. 870/S. 1774/S. 2676/S.3044 - Puerto Rico Chapter 9 Uniformity Act (and related legislation) - Advocacy to ensure that modifications or studies of the Jones Act were not considered as part of this legislation. S. 2012 - Energy Policy Modernization Act - Advocacy to ensure that modifications or studies of the Jones Act were not considered as part of this legislation; advocacy in support of reserving some portion of U.S. crude exports for U.S.-Flag carriers. H.R. 2028 - Further Continuing and Security Assistance Appropriations Act - Advocacy in support of adding H.R. 980/S. 373 Vessel Incidental Discharge Act language to the bill; advocacy in support of appropriating the fully authorized funding level for the Maritime Security Program. H.R. 4900 - Puerto Rico Oversight, Management and Economic Stability Act - Advocacy to ensure that modifications or studies of the Jones Act were not considered as part of this legislation. H.R. 4909/S. 2814 - National Defense Authorization Act of 2017 - Advocacy in support of the House version of the bill, which included H.R. 980/S. 373 Vessel Incidental Discharge Act language, and advocacy in support of its being included in the final conference report. H.R. 1567/S. 1252 - Global Food Security Act - Advocacy in support of the PL 480 Food for Peace Program; advocacy to ensure that no changes to PL 480 or to cargo preference laws were included within the Act. H.R. 5054/S. 2956 - FY 2017 Agriculture Appropriations Act - Advocacy in support of an increase in the appropriation for the PL 480 Food for Peace Program. H.R. 5303/S. 612 - Water Infrastructure Improvements for the Nation Act - Advocacy in support of on-going waterways improvements to improve navigation on inland waterways and to support port dredging programs H.R. 5394/S. 2844 - FY 2017 Transportation/HUD Appropriations Act - Advocacy in support of funding for Maritime Administration related programs, including training vessels for the state maritime academies and Title XI shipbuilding grants. H.R. 5531/H.R. 5978 - Miscellaneous Maritime Transportation Amendments Act of 2016 - Advocacy in support of technical corrections included in this legislation. DRAFT - Coast Guard Authorization Act of 2017 - Discussions with House committee staff in regards to priorities to be included in the 2017 authorization when it is finalized. Legislative Proposals and General Issue Areas: Jones Act - On-going discussions with staff about support for the Jones Act and providing rebuttals to anti-Jones Act related lobbying from various non-maritime groups. LNG and oil exports using US-flag shipping proposals - Discussions with staff regarding the potential of reserving certain cargos of LNG and crude oil exports on U.S.-Flag vessels. Maritime Security Program full funding for FY 2017 - Discussions and advocacy to ensure MSP is funded at the fully authorized level in FY 2017. Maritime Security Program full funding for FY 18-23 - Discussions and advocacy to ensure MSP is funded at levels sufficient to maintain the fleet, including increases in authorization and appropriation in future years between FY 18 and FY 23. King's Point (US Merchant Marine Academy) sexual harassment issues - Discussion and participation in meetings with staff regarding the allegations of sexual harassment at the USMMA and potential plans to address it, as well as educating staff on current practices at union affiliated training schools. Tonnage Tax reform - Discussion with staff regarding future tonnage tax reform to expand the program and ensure that IRS guidance and practice reflects Congressional intent in the on-going implementation of the tonnage tax. PL-480 Food Aid funding levels and reform issues - Discussion with staff regarding potential reforms possible to increase the speed and decrease concerns with U.S.-Flag shipping of foreign food aid, as well as discussion about increases in PL-480 appropriations. Cargo Preference - Discussion with staff regarding increases to the cargo preference percentages required under the law, as well as on-going efforts to protect cargo preference in regards to foreign aid and Ex-Im Bank financed cargos. National Maritime Strategy - Discussion with staff over the Maritime Administration's national maritime strategy plan. Maritime regulatory issues - Discussions with staff over regulatory reform issues, particularly those that impact U.S.-Flag carriers but are not present in the foreign sailing international fleet.
Read twice and referred to the Committee on Energy and Natural Resources.
Introduced in Senate
Bills with similar content found using semantic analysis.
Sources: Congress.gov
Client expense: $50,000 · Firm income: Not reported
Government targets: Defense, Dept of (DOD), HOUSE OF REPRESENTATIVES, Maritime Administration (MARAD), SENATE
2016 · first_quarter · Financial Institutions/Investments/Securities
Puerto Rico Fiscal Crises S 2381- Puerto Rico Assistance Act HR 4290, S 2436- Puerto Rico Emergency Financial Stability Act S 2203- Earned Income Tax Credit and Child Tax Credit Equity for Puerto Rico Act HR 870, S 1774- Puerto Rico Chapter 9 Uniformity Act HR 3610- Puerto Rico Investor Protection Act S 2862- Puerto Rico Territories Relief Act S 2675- Puerto Rico Recovery Act of 2016 S 2676- Puerto Rico Stability Act of 2016 Natural Resources Committees discussion draft on Puerto Rico Fiduciary Rule Proposed Standard, DOL HR 1090- DOL Fiduciary Standard, e.g. Retail Investor Protection Act HR 4294- SAVERS Act of 2015 Inversions Rule, Treasury
Client expense: $610,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Social Security Administration (SSA), Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
| Democratic |
| CA |
| Edward J. Markey | Democratic | MA |
| Elizabeth Warren | Democratic | MA |
| Maria Cantwell | Democratic | WA |
| Richard Blumenthal | Democratic | CT |
| Sherrod Brown | Democratic | OH |