121 
in section 505(d) of this title to the extent 
such study is completed and not incon-
sistent with studies or plans otherwise re-
quired under Puerto Rico laws or the vol-
untary agreement negotiated between the 
Puerto Rico Electric Power Authority and 
its creditors. 
(2) IDENTIFICATION
OF
RELEVANT
PUERTO 
RICO
AGENCIES.—Within 20 days of receiving a 
project submission under paragraph (1), the Revital-
ization Coordinator shall, in consultation with the 
Governor, identify all Puerto Rico Agencies that will 
have a role in the permitting, approval, authorizing, 
or other activity related to the development of such 
project submission. 
(3) CERTIFICATION
OF
EXPEDITED
PERMIT-
TING PROCESS.— 
(A) Not later than 20 days after receiving 
a project submission, each Puerto Rico Agency 
identified in paragraph (1) shall submit to the 
Revitalization Coordinator the Agency’s Expe-
dited Permitting Process. 
(B) FAILURE
TO
PROVIDE
EXPEDITED 
PERMITTING PROCESS.—If a Puerto Rico Agen-
cy fails to provide an Expedited Permitting 
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122 
Process within 20 days of receiving a project 
submission, 
the 
Revitalization 
Coordinator 
shall— 
(i) consult with the Governor to de-
velop within 20 days an Expedited Permit-
ting Process for the Agency; and 
(ii) require such Puerto Rico Agency 
to implement the Expedited Permitting 
Process developed under clause (i) for Crit-
ical Projects. 
(C) EFFECTS OF CERTIFICATION.—Critical 
Projects shall be prioritized to the maximum ex-
tent possible in each Puerto Rico Agency re-
gardless of any agreements transferring or dele-
gating permitting authority to any other Terri-
torial Instrumentality or municipality. 
(b) CRITICAL PROJECT REPORT.— 
(1) IN GENERAL.—For each submitted project, 
the Revitalization Coordinator in consultation with 
the Governor and relevant Puerto Rico Agencies 
identified in subsection (a)(2) shall develop a Crit-
ical Project Report within 60 days of the project 
submission, which shall include: 
(A) An assessment of how well the project 
meets the criteria in subsection (a)(1). 
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123 
(B) A recommendation by the Governor on 
whether the project should be considered a Crit-
ical Project. If the Governor fails to provide a 
recommendation during the development of the 
Critical Project Report, the failure shall con-
stitute a concurrence with the Revitalization 
Coordinator’s recommendation in subparagraph 
(D). 
(C) In the case of a project that may affect 
the implementation of Land-Use Plans, as de-
fined by Puerto Rico Act 550–2004, a deter-
mination by the Planning Board will be re-
quired within the 60-day timeframe. If the 
Planning Board determines such project will be 
inconsistent with relevant Land-Use Plans, then 
the project will be deemed ineligible for Critical 
Project designation. 
(D) In the case of an Energy Project that 
will connect with the Puerto Rico Electric 
Power Authority’s transmission or distribution 
facilities, a recommendation by the Energy 
Commission of Puerto Rico, if the Energy Com-
mission determines such Energy Project will af-
fect an approved Integrated Resource Plan, as 
defined under Puerto Rico Act 54–2014. If the 
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124 
Energy Commission determines the Energy 
Project will adversely affect an approved Inte-
grated Resource Plan, then the Energy Com-
mission shall provide the reasons for such de-
termination and the Energy Project shall be in-
eligible for Critical Project designation, pro-
vided that such determination must be made 
during the 60-day timeframe for the develop-
ment of the Critical Project Report. 
(E) A recommendation by the Revitaliza-
tion Coordinator on whether the project should 
be considered a Critical Project. 
(2) PUBLIC
INVOLVEMENT.—Immediately fol-
lowing the completion of the Critical Project Report, 
the Revitalization Coordinator shall make such Crit-
ical Project Report public and allow a period of 30 
days for the submission of comments by residents of 
Puerto Rico. The Revitalization Coordinator shall re-
spond to the comments within 30 days of closing the 
coming period and make the responses publicly 
available. 
(3) SUBMISSION TO OVERSIGHT BOARD.—Not 
later than 5 days after the Revitalization Coordi-
nator has responded to the comments under para-
graph (2), the Revitalization Coordinator shall sub-
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125 
mit the Critical Project Report to the Oversight 
Board. 
(c) ACTION BY THE OVERSIGHT BOARD.—Not later 
than 30 days after receiving the Critical Project Report, 
the Oversight Board, by majority vote, shall approve or 
disapprove the project as a Critical Project, if the Over-
sight Board— 
(1) approves the project, the project shall be 
deemed a Critical Project; and 
(2) disapproves the project, the Oversight 
Board shall submit to the Revitalization Coordinator 
in writing the reasons for disapproval. 
SEC. 504. MISCELLANEOUS PROVISIONS. 
(a) CREATION OF INTERAGENCY ENVIRONMENTAL 
SUBCOMMITTEE.— 
(1) ESTABLISHMENT.—Not later than 60 days 
after the date on which the Revitalization Coordi-
nator is appointed, the Interagency Environmental 
Subcommittee shall be established and shall evaluate 
environmental documents required under Puerto 
Rico law for any Critical Project within the Expe-
dited Permitting Process established by the Revital-
ization Coordinator under section 503(a)(3). 
(2) COMPOSITION.—The Interagency Environ-
mental Subcommittee shall consist of the Revitaliza-
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126 
tion Coordinator, and a representative selected by 
the Governor in consultation with the Revitalization 
Coordinator representing each of the following agen-
cies: The Environmental Quality Board, the Plan-
ning Board, the Puerto Rico Department of Natural 
and Environmental Resources, and any other Puerto 
Rico Agency determined to be relevant by the Revi-
talization Coordinator. 
(b) LENGTH
OF EXPEDITED PERMITTING PROC-
ESS.—With respect to a Puerto Rico Agency’s activities 
related only to a Critical Project, such Puerto Rico Agency 
shall operate as if the Governor has declared an emergency 
pursuant to section 2 of Act 76 (3 L.P.R.A. 1932). Sec-
tion 12 of Act 76 (3 L.P.R.A. 1942) shall not be applica-
ble to Critical Projects. Furthermore, any transactions, 
processes, projects, works, or programs essential to the 
completion of a Critical Project shall continue to be proc-
essed and completed under such Expedited Permitting 
Process regardless of the termination of the Oversight 
Board under section 209. 
(c) EXPEDITED
PERMITTING
PROCESS
COMPLI-
ANCE.— 
(1) WRITTEN
NOTICE.—A Critical Project 
Sponsor may in writing notify the Oversight Board 
of the failure of a Puerto Rico Agency or the Revi-
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127 
talization Coordinator to adhere to the Expedited 
Permitting Process. 
(2) FINDING
OF
FAILURE.—If the Oversight 
Board finds either the Puerto Rico Agency or Revi-
talization Coordinator has failed to adhere to the 
Expedited Permitting Process, the Oversight Board 
shall direct the offending party to comply with the 
Expedited Permitting Process. The Oversight Board 
may take such enforcement action as necessary as 
provided by section 104(l). 
(d) REVIEW OF LEGISLATURE ACTS.— 
(1) SUBMISSION
OF
ACTS
TO
OVERSIGHT 
BOARD.—Pursuant to section 204(a), the Governor 
shall submit to the Oversight Board any law duly 
enacted during any fiscal year in which the Over-
sight Board is in operation that may affect the Ex-
pedited Permitting Process. 
(2) FINDING OF OVERSIGHT BOARD.—Upon re-
ceipt of a law under paragraph (1), the Oversight 
Board shall promptly review whether the law would 
adversely impact the Expedited Permitting Process 
and, upon such a finding, the Oversight Board may 
deem such law to be significantly inconsistent with 
the applicable Fiscal Plan. 
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128 
(e) ESTABLISHMENT OF CERTAIN TERMS AND CON-
DITIONS.—No Puerto Rico Agency may include in any cer-
tificate, right-of-way, permit, lease, or other authorization 
issued for a Critical Project any term or condition that 
may be permitted, but is not required, by any applicable 
Puerto Rico law, if the Revitalization Coordinator deter-
mines the term or condition would prevent or impair the 
expeditious construction, operation, or expansion of the 
Critical Project. The Revitalization Coordinator may re-
quest a Puerto Rico Agency to include in any certificate, 
right-of-way, permit, lease, or other authorization, a term 
or condition that may be permitted in accordance with ap-
plicable laws if the Revitalization Coordinator determines 
such inclusion would support the expeditious construction, 
operation, or expansion of any Critical Project. 
(f) DISCLOSURE.—All Critical Project reports, and 
justifications for approval or rejection of Critical Project 
status, shall be made publicly available online within 5 
days of receipt or completion. 
SEC. 505. FEDERAL AGENCY REQUIREMENTS. 
(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 juris-
diction over the permitting, or administrative or environ-
mental review of private or public projects in Puerto Rico, 
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129 
shall name a Point of Contact who will serve as that agen-
cy’s liaison with the Revitalization Coordinator. 
(b) FEDERAL GRANTS AND LOANS.—For each Crit-
ical Project with a pending or potential Federal grant, 
loan, or loan guarantee application, the Revitalization Co-
ordinator and the relevant Point of Contact shall cooper-
ate 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. 
(d) TRANSFER OF STUDY OF ELECTRIC RATES.— 
Section 9 of the Consolidated and Further Continuing Ap-
propriations Act, 2015 (48 U.S.C. 1492a) is amended— 
(1) in subsection (a)(5), by inserting ‘‘, except 
that, with respect to Puerto Rico, the term means, 
the Secretary of Energy’’ after ‘‘Secretary of the In-
terior’’; and 
(2) in subsection (b)— 
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(A) by inserting ‘‘(except in the case of 
Puerto Rico, in which case not later than 270 
days after the date of enactment of the Puerto 
Rico Oversight, Management, and Economic 
Stability Act)’’ after ‘‘of this Act’’; and 
(B) by inserting ‘‘(except in the case of 
Puerto Rico)’’ after ‘‘Empowering Insular Com-
munities activity’’. 
SEC. 506. JUDICIAL REVIEW. 
(a) DEADLINE FOR FILING OF A CLAIM.—A claim 
arising under this title must be brought no later than 30 
days after the date of the decision or action giving rise 
to the claim. 
(b) EXPEDITED
CONSIDERATION.—The District 
Court for the District of Puerto Rico shall set any action 
brought under this title for expedited consideration, taking 
into account the interest of enhancing Puerto Rico’s infra-
structure for electricity, water and sewer services, roads 
and bridges, ports, and solid waste management to achieve 
compliance with local and Federal environmental laws, 
regulations, and policies while ensuring the continuity of 
adequate services to the people of Puerto Rico and Puerto 
Rico’s sustainable economic development. 
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131 
SEC. 507. SAVINGS CLAUSE. 
Nothing in this title is intended to change or alter 
any Federal legal requirements or laws. 
TITLE VI—CREDITOR 
COLLECTIVE ACTION 
SEC. 601. CREDITOR COLLECTIVE ACTION. 
(a) DEFINITIONS.—In this title: 
(1) ADMINISTRATIVE SUPERVISOR.—The term 
‘‘Administrative Supervisor’’ means the Oversight 
Board established under section 101. 
(2) AUTHORIZED
TERRITORIAL
INSTRUMEN-
TALITY.—The term ‘‘Authorized Territorial Instru-
mentality’’ means a covered territorial instrumen-
tality authorized in accordance with subsection (e). 
(3) CALCULATION AGENT.—The term ‘‘Calcula-
tion Agent’’ means a calculation agent appointed in 
accordance with subsection (j). 
(4) CAPITAL APPRECIATION BOND.—The term 
‘‘Capital Appreciation Bond’’ means a Bond that 
does not pay interest on a current basis, but for 
which interest amounts are added to principal over 
time as specified in the relevant offering materials 
for such Bond, including that the accreted interest 
amount added to principal increases daily. 
(5) 
CONVERTIBLE
CAPITAL
APPRECIATION 
BOND.—The term ‘‘Convertible Capital Appreciation 
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