I 
114TH CONGRESS 
2D SESSION 
H. R. 4900 
To establish an Oversight Board to assist the Government of Puerto Rico, 
including instrumentalities, in managing its public finances, and for 
other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 12, 2016 
Mr. DUFFY introduced the following bill; which was referred to the Committee 
on Natural Resources, and in addition to the Committees on the Judici-
ary and Education and the Workforce, for a period to be subsequently 
determined by the Speaker, in each case for consideration of such provi-
sions as fall within the jurisdiction of the committee concerned 
A BILL 
To establish an Oversight Board to assist the Government 
of Puerto Rico, including instrumentalities, in managing 
its public finances, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE; TABLE OF CONTENTS. 
(a) SHORT TITLE.—This Act may be cited as the 
‘‘Puerto Rico Oversight, Management, and Economic Sta-
bility Act’’ or ‘‘PROMESA’’. 
(b) TABLE OF CONTENTS.—The table of contents of 
this Act is as follows: 
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Sec. 1. Short title; table of contents. 
Sec. 2. Effective date. 
Sec. 3. Severability. 
Sec. 4. Supremacy. 
Sec. 5. Definitions. 
Sec. 6. Placement. 
Sec. 7. Compliance with Federal laws. 
TITLE I—ESTABLISHMENT AND ORGANIZATION OF OVERSIGHT 
BOARD 
Sec. 101. Territory Financial Oversight and Management Board. 
Sec. 102. Location of Oversight Board. 
Sec. 103. Executive Director and staff of Oversight Board. 
Sec. 104. Powers of Oversight Board. 
Sec. 105. Exemption from liability for claims. 
Sec. 106. Treatment of actions arising from Act. 
Sec. 107. Budget and funding for operation of Oversight Board. 
Sec. 108. Autonomy of the Oversight Board. 
Sec. 109. Ethics. 
TITLE II—RESPONSIBILITIES OF OVERSIGHT BOARD 
Sec. 201. Approval of fiscal plans. 
Sec. 202. Approval of budgets. 
Sec. 203. Effect of finding of noncompliance with budget. 
Sec. 204. Review of activities to ensure compliance with fiscal plan. 
Sec. 205. Recommendations on financial stability and management responsi-
bility. 
Sec. 206. Oversight Board duties related to restructuring. 
Sec. 207. Oversight Board authority related to debt issuance. 
Sec. 208. Required reports. 
Sec. 209. Termination of Oversight Board. 
Sec. 210. No full faith and credit of the United States. 
Sec. 211. Analysis of pensions. 
TITLE III—ADJUSTMENTS OF DEBTS 
Sec. 301. Applicability of other laws; definitions. 
Sec. 302. Who may be a debtor. 
Sec. 303. Reservation of territorial power to control territory and territorial in-
strumentalities. 
Sec. 304. Petition and proceedings relating to petition. 
Sec. 305. Limitation on jurisdiction and powers of court. 
Sec. 306. Jurisdiction. 
Sec. 307. Venue. 
Sec. 308. Jurisdiction; removal; appeals. 
Sec. 309. Appellate review. 
Sec. 310. Applicable rules of procedure. 
Sec. 311. Leases. 
Sec. 312. Filing of plan of adjustment. 
Sec. 313. Modification of plan. 
Sec. 314. Confirmation. 
Sec. 315. Role and capacity of Oversight Board. 
TITLE IV—MISCELLANEOUS PROVISIONS 
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Sec. 401. Rules of construction. 
Sec. 402. Right of Puerto Rico to determine its future political status. 
Sec. 403. First minimum wage in Puerto Rico. 
Sec. 404. Application of regulation to Puerto Rico. 
Sec. 405. Land conveyance authority, Vieques National Wildlife Refuge, 
Vieques Island. 
Sec. 406. Automatic stay upon enactment. 
Sec. 407. Purchases by territory governments. 
Sec. 408. Intervention in litigation. 
TITLE V—PUERTO RICO INFRASTRUCTURE REVITALIZATION 
Sec. 501. Definitions. 
Sec. 502. Position of revitalization coordinator. 
Sec. 503. Critical projects. 
Sec. 504. Miscellaneous provisions. 
Sec. 505. Federal agency requirements. 
Sec. 506. Judicial review. 
Sec. 507. Savings clause. 
TITLE VI—CREDITOR COLLECTIVE ACTION 
Sec. 601. Creditor Collective action. 
SEC. 2. EFFECTIVE DATE. 
(a) IN GENERAL.—Except as provided in subsection 
(b), this Act shall take effect on the date of the enactment 
of this Act. 
(b) TITLE III.—Title III shall apply with respect 
to— 
(1) cases commenced under title III on or after 
the date of the enactment of this Act; and 
(2) debts, claims, and liens (as such terms are 
defined in section 101 of title 11, United States 
Code) created before, on, or after such date. 
SEC. 3. SEVERABILITY. 
If any provision of this Act or the application thereof 
to any person or circumstance is held invalid, the remain-
der of this Act, or the application of that provision to per-
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sons or circumstances other than those as to which it is 
held invalid, is not affected thereby, provided that title III 
is not severable from titles I or II, and titles I or II are 
not severable from title III. 
SEC. 4. SUPREMACY. 
The provisions of this Act shall prevail over any gen-
eral or specific provisions of territory law or regulation 
that is inconsistent with this Act. 
SEC. 5. DEFINITIONS. 
In this Act— 
(1) AGREED
ACCOUNTING
STANDARDS.—The 
term ‘‘agreed accounting standards’’ means modified 
accrual accounting standards or, for any period dur-
ing which the Board determines in its sole discretion 
that a territorial government is not reasonably capa-
ble of comprehensive reporting that complies with 
modified accrual accounting standards, such other 
accounting standards as proposed by the Board. 
(2) BOND.—The term ‘‘Bond’’ means a bond, 
loan, letter of credit, other borrowing title, obligation 
of insurance, or other indebtedness, including rights, 
entitlements, or obligations whether such rights, en-
titlements, or obligations arise from contract, stat-
ute, or any other source of law, in any case, related 
to such a bond, loan, letter of credit, other bor-
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rowing title, obligation of insurance, or other indebt-
edness in physical or dematerialized form, of 
which— 
(A) the issuer, obligor, or guarantor is the 
territorial government; and 
(B) the date of issuance or incurrence pre-
cedes the date of enactment of this Act. 
(3) BOND
CLAIM.—The term ‘‘Bond Claim’’ 
means, as it relates to a Bond— 
(A) right to payment, whether or not such 
right is reduced to judgment, liquidated, unliq-
uidated, fixed, contingent, matured, unmatured, 
disputed, undisputed, legal, equitable, secured, 
or unsecured; or 
(B) right to an equitable remedy for 
breach of performance if such breach gives rise 
to a right to payment, whether or not such 
right to an equitable remedy is reduced to judg-
ment, fixed, contingent, matured, unmatured, 
disputed, undisputed, secured, or unsecured. 
(4) BUDGET.—The term ‘‘Budget’’ means the 
Territory Budget or an Instrumentality Budget, as 
applicable. 
(5) PUERTO RICO.—The term ‘‘Puerto Rico’’ 
means the Commonwealth of Puerto Rico. 
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(6) COMPLIANT BUDGET.—The term ‘‘compli-
ant budget’’ means a budget that is prepared in ac-
cordance with— 
(A) agreed accounting standards; and 
(B) the applicable Fiscal Plan. 
(7) 
COVERED
TERRITORIAL
INSTRUMEN-
TALITY.—The term ‘‘covered territorial instrumen-
tality’’ means a territorial instrumentality des-
ignated by the Board pursuant to section 101 to be 
subject to the requirements of this Act. 
(8) COVERED TERRITORY.—The term ‘‘covered 
territory’’ means a territory for which a Board has 
been established under section 101. 
(9) EXECUTIVE DIRECTOR.—The term ‘‘Execu-
tive Director’’ means an Executive Director ap-
pointed under section 103(a). 
(10) FISCAL PLAN.—The term ‘‘Fiscal Plan’’ 
means a Territory Fiscal Plan or an Instrumentality 
Fiscal Plan, as applicable. 
(11) GOVERNMENT
OF
PUERTO
RICO.—The 
term ‘‘Government of Puerto Rico’’ means the gov-
ernment of the Commonwealth of Puerto Rico, in-
cluding all its territorial instrumentalities. 
(12) GOVERNOR.—The term ‘‘Governor’’ means 
the chief executive of a covered territory. 
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(13) INSTRUMENTALITY
BUDGET.—The term 
‘‘Instrumentality Budget’’ means a budget for a cov-
ered territorial instrumentality, designated by the 
Board in accordance with section 101, submitted, 
approved, and certified in accordance with section 
202. 
(14) INSTRUMENTALITY
FISCAL
PLAN.—The 
term ‘‘Instrumentality Fiscal Plan’’ means a fiscal 
plan for a covered territorial instrumentality, des-
ignated by the Board in accordance with section 
101, submitted, approved, and certified in accord-
ance with section 201. 
(15) LEGISLATURE.—The term ‘‘Legislature’’ 
means the legislative body responsible for enacting 
the laws of a covered territory. 
(16) MODIFIED ACCRUAL ACCOUNTING STAND-
ARDS.—The term ‘‘modified accrual accounting 
standards’’ means recognizing revenues as they be-
come available and measurable and recognizing ex-
penditures when liabilities are incurred, in each case 
as defined by the Governmental Accounting Stand-
ards Board, in accordance with generally accepted 
accounting principles. 
(17) OVERSIGHT BOARD.—The term ‘‘Oversight 
Board’’ means a Financial Oversight and Manage-
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ment Board established in accordance with section 
101. 
(18) TERRITORIAL
GOVERNMENT.—The term 
‘‘territorial government’’ means the government of a 
covered territory, including all covered territorial in-
strumentalities. 
(19) TERRITORIAL INSTRUMENTALITY.— 
(A) IN GENERAL.—The term ‘‘territorial 
instrumentality’’ means any political subdivi-
sion, public agency, instrumentality, or public 
corporation of a territory, and this term should 
be broadly construed to effectuate the purposes 
of this Act. 
(B) EXCLUSION.—The term ‘‘territorial in-
strumentality’’ does not include an Oversight 
Board. 
(20) 
TERRITORY.—The 
term 
‘‘territory’’ 
means— 
(A) Puerto Rico; 
(B) Guam; 
(C) American Samoa; 
(D) the Commonwealth of the Northern 
Mariana Islands; or 
(E) the United States Virgin Islands. 
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(21) TERRITORY BUDGET.—The term ‘‘Terri-
tory Budget’’ means a budget for a territorial gov-
ernment submitted, approved, and certified in ac-
cordance with section 202. 
(22) TERRITORY
FISCAL
PLAN.—The term 
‘‘Territory Fiscal Plan’’ means a fiscal plan for a 
territorial government submitted, approved, and cer-
tified in accordance with section 201. 
SEC. 6. PLACEMENT. 
The Law Revision Counsel is directed to place this 
Act in chapter 4 of title 48, United States Code, as sub-
chapter VIII. 
SEC. 7. COMPLIANCE WITH FEDERAL LAWS. 
Except as otherwise provided in this Act, nothing in 
this Act shall be construed as impairing or in any manner 
relieving a territorial government, or any territorial instru-
mentality thereof, from compliance with Federal laws or 
requirements protecting the health, safety, and environ-
ment of persons in such territory. 
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TITLE I—ESTABLISHMENT AND 
ORGANIZATION 
OF 
OVER-
SIGHT BOARD 
SEC. 101. TERRITORY FINANCIAL OVERSIGHT AND MAN-
AGEMENT BOARD. 
(a) PURPOSE.—The purpose of the Oversight Board 
is to provide a method to achieve fiscal responsibility and 
access to the capital markets. 
(b) ESTABLISHMENT.— 
(1) IN GENERAL.—Except as provided in para-
graph (2), a Financial Oversight and Management 
Board for a territory is established in accordance 
with this section only if the Legislature of the terri-
tory adopts a resolution signed by the Governor re-
questing the establishment. 
(2) PUERTO RICO.—Notwithstanding paragraph 
(1), a Financial Oversight and Management Board 
is hereby established for Puerto Rico. 
(3) CONSTITUTIONAL BASIS.—The Congress en-
acts this subsection 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— 
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(1) shall be created as an entity within the ter-
ritorial government for which it is established in ac-
cordance with this title; and 
(2) shall not be considered to be a department, 
agency, establishment, or instrumentality of the 
Federal Government. 
(d) OVERSIGHT OF TERRITORIAL INSTRUMENTAL-
ITIES.— 
(1) DESIGNATION.— 
(A) IN GENERAL.—An Oversight Board, in 
its sole discretion at such time as the Oversight 
Board determines to be appropriate, may des-
ignate any territorial instrumentality as a cov-
ered territorial instrumentality that is subject 
to the requirements of this Act. 
(B) BUDGETS AND REPORTS.—The Over-
sight 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 nec-
essary and may designate any covered terri-
torial instrumentality to be included in the Ter-
ritory Budget; except that the Oversight Board 
may not designate a covered territorial instru-
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mentality to be included in the Territory Budg-
et if applicable territory law does not require 
legislative approval of such covered territorial 
instrumentality’s budget. 
(C) SEPARATE
INSTRUMENTALITY
BUDG-
ETS AND REPORTS.—The Oversight Board in 
its sole discretion may or, if it requires a budg-
et from a covered territorial instrumentality 
whose budget does not require legislative ap-
proval under applicable territory law, must des-
ignate a covered territorial instrumentality to 
be the subject of an Instrumentality Budget 
separate from the applicable Territory Budget 
and require that the Governor develop such an 
Instrumentality Budget. 
(D) INCLUSION
IN
TERRITORY
FISCAL 
PLAN.—The Oversight Board may require in its 
sole discretion the Governor to include a cov-
ered territorial instrumentality in the applicable 
Territory Fiscal Plan. 
(E) SEPARATE INSTRUMENTALITY FISCAL 
PLANS.—The Oversight Board may designate in 
its sole discretion a covered territorial instru-
mentality to be the subject of an Instrumen-
tality Fiscal Plan separate from the applicable 
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Territory Fiscal Plan and require that the Gov-
ernor develop such an Instrumentality Fiscal 
Plan. 
(2) EXCLUSION.— 
(A) IN GENERAL.—An Oversight Board, in 
its sole discretion, at such time as the Oversight 
Board determines to be appropriate, may ex-
clude any territorial instrumentality from the 
requirements of this Act. 
(B) TREATMENT.—A territorial instrumen-
tality excluded pursuant to this paragraph shall 
not be considered to be a covered territorial in-
strumentality. 
(e) MEMBERSHIP.— 
(1) IN GENERAL.—The Oversight Board shall 
consist of 7 members appointed by the President 
who meet the qualifications described in subsection 
(e), except that the Oversight Board may take any 
action under this Act (or any amendments made by 
this Act) at any time after the President has ap-
pointed 3 of its members. 
(2) APPOINTED
MEMBERS.—The President 
shall appoint the individual members of the Over-
sight Board, of which two individuals should be se-
lected from a list of individuals submitted by the 
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Speaker of the House of Representatives; two should 
be selected from a list submitted by the Majority 
Leader of the Senate; one should be selected from 
a list submitted by the Minority Leader of the 
House of Representatives; and one should be se-
lected from a list submitted by the Minority Leader 
of the Senate. Of the two individuals to be selected 
from a list of individuals submitted by the Speaker 
of the House of Representatives, one shall maintain 
a primary residence in the territory or have a pri-
mary place of business in the territory. 
(3) EX OFFICIO MEMBERS.—The Governor, or 
the Governor’s designee, shall be an ex officio mem-
ber of the Oversight Board without voting rights. 
(4) CHAIR.—The voting members of the Over-
sight Board shall designate one of the voting mem-
bers of the Oversight Board as the Chair of the 
Oversight Board (referred to hereafter in this title 
as the ‘‘Chair’’). 
(5) TERM OF SERVICE.— 
(A) IN GENERAL.—Each appointed mem-
ber of the Oversight Board shall be appointed 
for a term of 3 years. 
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(B) REMOVAL.—The President may re-
move any member of the Oversight Board only 
for cause. 
(C) CONTINUATION
OF
SERVICE
UNTIL 
SUCCESSOR APPOINTED.—Upon the expiration 
of a term of office, a member of the Oversight 
Board may continue to serve until a successor 
has been appointed. 
(f) ELIGIBILITY FOR APPOINTMENTS.—An individual 
is eligible for appointment as a member of the Oversight 
Board only if the individual— 
(1) has knowledge and expertise in finance, mu-
nicipal bond markets, management, law, or the orga-
nization or operation of business or government; and 
(2) is not an officer, elected official, or em-
ployee of the territorial government or a candidate 
for elected office of the territorial government. 
(g) NO COMPENSATION FOR SERVICE.—Members of 
the Oversight Board shall serve without pay, but may re-
ceive reimbursement from the Oversight Board for any 
reasonable and necessary expenses incurred by reason of 
service on the Oversight Board. 
(h) ADOPTION OF BYLAWS FOR CONDUCTING BUSI-
NESS OF OVERSIGHT BOARD.— 
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(1) IN GENERAL.—As soon as practicable after 
the appointment of its members, the Oversight 
Board shall adopt bylaws, rules, and procedures gov-
erning its activities under this Act, including proce-
dures for hiring experts and consultants and conflict 
of interest rules. Such bylaws, rules, and procedures 
shall be public documents, and shall be submitted by 
the Oversight Board upon adoption to the Governor, 
the Legislature, the President, and Congress. The 
Oversight Board may hire professionals as it deter-
mines to be necessary to carry out this subsection. 
(2) ACTIVITIES REQUIRING APPROVAL OF MA-
JORITY OF MEMBERS.—Under the bylaws adopted 
pursuant to paragraph (1), the Oversight Board 
may conduct its operations under such procedures as 
it considers appropriate, except that an affirmative 
vote of a majority of the members of the Oversight 
Board’s full appointed membership shall be required 
in order for the Oversight Board to approve a Fiscal 
Plan under section 201, to approve a Budget under 
section 202, or to cause a legislative act not to be 
enforced under section 204. 
(3) ADOPTION OF RULES AND REGULATIONS OF 
TERRITORIAL GOVERNMENT.—The Oversight Board 
may incorporate in its bylaws, rules, and procedures 
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under this subsection such rules and regulations of 
the territorial government as it considers appro-
priate to enable it to carry out its activities under 
this Act with the greatest degree of independence 
practicable. 
(4) EXECUTIVE
SESSION.—Upon a majority 
vote of the Oversight Board’s full appointed mem-
bership, the Oversight Board may conduct its busi-
ness in an executive session that consists solely of 
the Oversight Board’s appointed members and is 
closed to the public, but only for the business items 
set forth as part of the vote to convene an executive 
session. 
SEC. 102. LOCATION OF OVERSIGHT BOARD. 
The Oversight Board shall have an office in the cov-
ered territory and additional offices as it sees fit. At any 
time, any department or agency of the United States may 
provide the Oversight Board use of Federal facilities and 
equipment, with partial or no reimbursement, and subject 
to such terms and conditions as the head of that depart-
ment or agency may establish. 
SEC. 103. EXECUTIVE DIRECTOR AND STAFF OF OVERSIGHT 
BOARD. 
(a) EXECUTIVE DIRECTOR.—The Oversight Board 
shall have an Executive Director who shall be appointed 
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by the Chair with the consent of the Oversight Board. The 
Executive Director shall be paid at a rate determined by 
the Oversight Board. 
(b) STAFF.—With the approval of the Chair, the Ex-
ecutive Director may appoint and fix the pay of additional 
personnel as the Executive Director considers appropriate, 
except that no individual appointed by the Executive Di-
rector may be paid at a rate greater than the rate of pay 
for the Executive Director unless the Oversight Board pro-
vides for otherwise. Such personnel may include private 
citizens, employees of the Federal Government, or employ-
ees of the territorial government. 
(c) INAPPLICABILITY
OF CERTAIN EMPLOYMENT 
AND PROCUREMENT LAWS.— 
(1) CIVIL SERVICE LAWS.—The Executive Di-
rector and staff of the Oversight Board may be ap-
pointed without regard to the provisions of title 5, 
United States Code, governing appointments in the 
competitive service, and paid without regard to the 
provisions of chapter 51 and subchapter III of chap-
ter 53 of that title relating to classification and Gen-
eral Schedule pay rates. 
(2) COVERED
TERRITORY
EMPLOYMENT
AND 
PROCUREMENT LAWS.—The Executive Director and 
staff of the Oversight Board may be appointed and 
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paid without regard to any provision of the laws of 
the covered territory governing appointments and 
salaries. Any provision of the laws of the covered 
territory governing procurement shall not apply to 
the Oversight Board. 
(d) STAFF OF FEDERAL AGENCIES.—Upon request 
of the Chair, the head of any Federal department or agen-
cy may detail, on a reimbursable or nonreimbursable basis, 
and in accordance with the Intergovernmental Personnel 
Act of 1970 (42 U.S.C. 4701 et seq.), any of the personnel 
of that department or agency to the Oversight Board to 
assist it in carrying out its duties under this Act. 
(e) STAFF OF TERRITORIAL GOVERNMENT.—Upon 
request of the Chair, the head of any department or agen-
cy of the covered territory may detail, on a reimbursable 
or nonreimbursable basis, any of the personnel of that de-
partment or agency to the Oversight Board to assist it 
in carrying out its duties under this Act. 
SEC. 104. POWERS OF OVERSIGHT BOARD. 
(a) HEARINGS AND SESSIONS.—The Oversight Board 
may, for the purpose of carrying out this Act, hold hear-
ings, sit and act at times and places, take testimony, and 
receive evidence as the Oversight Board considers appro-
priate. The Oversight Board may administer oaths or af-
firmations to witnesses appearing before it. 
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(b) POWERS OF MEMBERS AND AGENTS.—Any mem-
ber or agent of the Oversight Board may, if authorized 
by the Oversight Board, take any action that the Over-
sight Board is authorized to take by this section. 
(c) OBTAINING OFFICIAL DATA.— 
(1) FROM
FEDERAL
GOVERNMENT.—Notwith-
standing sections 552 (commonly known as the 
Freedom of Information Act), 552a (commonly 
known as the Privacy Act of 1974), and 552b (com-
monly known as the Government in the Sunshine 
Act) of title 5, United States Code, the Oversight 
Board may secure directly from any department or 
agency of the United States information necessary 
to enable it to carry out this Act, with the approval 
of the head of that department or agency. 
(2) FROM
TERRITORIAL
GOVERNMENT.—Not-
withstanding any other provision of law, the Over-
sight Board shall have the right to secure copies, 
whether written or electronic, of such records, docu-
ments, information, data, or metadata from the ter-
ritorial government necessary to enable the Over-
sight Board to carry out its responsibilities under 
this Act. At the request of the Oversight Board, the 
Oversight Board shall be granted direct access to 
such information systems, records, documents, infor-
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mation, or data as will enable the Oversight Board 
to carry out its responsibilities under this Act. The 
head of the entity of the territorial government re-
sponsible shall provide the Oversight Board with 
such information and assistance (including granting 
the Oversight Board direct access to automated or 
other information systems) as the Oversight Board 
requires under this paragraph. 
(d) GIFTS, BEQUESTS, AND DEVISES.—The Over-
sight Board may accept, use, and dispose of gifts, be-
quests, or devises of services or property, both real and 
personal, for the purpose of aiding or facilitating the work 
of the Oversight Board. Gifts, bequests, or devises of 
money and proceeds from sales of other property received 
as gifts, bequests, or devises shall be deposited in such 
account as the Oversight Board may establish and shall 
be available for disbursement upon order of the Chair, 
consistent with the Oversight Board’s bylaws, or rules and 
procedures. All gifts, bequests or devises and the identities 
of the donors shall be publicly disclosed by the Oversight 
Board within 30 days of receipt. 
(e) SUBPOENA POWER.— 
(1) IN GENERAL.—The Oversight Board may 
issue subpoenas requiring the attendance and testi-
mony of witnesses and the production of books, 
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records, correspondence, memoranda, papers, docu-
ments, electronic files, metadata, tapes, and mate-
rials of any nature relating to any matter under in-
vestigation by the Oversight Board. The attendance 
of witnesses and the production of such materials 
may be required from any place within the United 
States at any designated place of hearing within the 
United States. 
(2) FAILURE TO OBEY A SUBPOENA.—If a per-
son refuses to obey a subpoena issued under para-
graph (1), the Oversight Board may apply to the 
district court for the district for the covered terri-
tory or, for any territory that does not have a dis-
trict court, to the United States District Court for 
the District of Hawaii, for an order requiring that 
person to appear before the Oversight Board to give 
testimony, produce evidence, or both, relating to the 
matter under investigation. Any failure to obey the 
order of the court may be punished by the court as 
civil contempt. 
(3) SERVICE OF SUBPOENAS.—The subpoena of 
the Oversight Board shall be served in the manner 
provided for subpoenas issued by the district courts 
under the Federal Rules of Civil Procedure. 
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(f) ADMINISTRATIVE SUPPORT SERVICES.—Upon the 
request of the Oversight Board, the Administrator of Gen-
eral Services shall promptly provide to the Oversight 
Board, on a reimbursable basis, the administrative sup-
port services necessary for the Oversight Board to carry 
out its responsibilities under this Act. 
(g) AUTHORITY TO ENTER INTO CONTRACTS.—The 
Executive Director may enter into such contracts as the 
Executive Director considers appropriate (subject to the 
approval of the Chair) consistent with the Oversight 
Board’s bylaws, rules, and regulations to carry out the 
Oversight Board’s responsibilities under this Act. 
(h) AUTHORITY TO ENFORCE CERTAIN LAWS OF 
THE COVERED TERRITORY.—The Oversight Board shall 
ensure the purposes of this Act are met, including by en-
suring the prompt enforcement of any applicable laws of 
the covered territory prohibiting public sector employees 
from participating in a strike or lockout. In the application 
of this subsection, with respect to Puerto Rico, the term 
‘‘applicable laws’’ refers to 3 L.P.R.A. 1451q and 3 
L.P.R.A. 1451r. 
(i) VOLUNTARY AGREEMENT CERTIFICATION.— 
(1) IN GENERAL.—If the Oversight Board de-
termines in its sole discretion that the covered terri-
tory or covered territorial instrumentality has suc-
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cessfully reached a voluntary agreement with holders 
of its debt to restructure such debt in a manner that 
provides for a sustainable level of debt for such cov-
ered territory or covered territorial instrumentality 
and is in conformance with the certified Fiscal Plan 
as applicable— 
(A) the Oversight Board shall issue a cer-
tification to the applicable covered territory or 
covered territorial instrumentality that the vol-
untary agreement provides for a sustainable 
level of debt and is in conformance with the ap-
plicable certified Fiscal Plan; and 
(B) the effectiveness of any such voluntary 
agreement must be conditioned on the Over-
sight Board delivering the certification de-
scribed in subparagraph (A). 
(2) PREEXISTING VOLUNTARY AGREEMENTS.— 
Any voluntary agreements that the territorial gov-
ernment has consummated with holders of its debts 
to restructure such debt for the territorial govern-
ment prior to the date of enactment of the Act shall 
be deemed to be in conformance with the require-
ments of this subsection. 
(j) RESTRUCTURING FILINGS.— 
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(1) IN GENERAL.—Subject to paragraph (3), 
before taking an action described in paragraph (2) 
on behalf of a debtor or potential debtor in a case 
under title III, the Oversight Board must certify the 
action. 
(2) ACTIONS DESCRIBED.—The actions referred 
to in paragraph (1) are— 
(A) the filing of a petition; or 
(B) the submission or modification of a 
plan of adjustment. 
(3) CONDITION FOR PLANS OF ADJUSTMENT.— 
The Oversight Board can only certify a plan of ad-
justment only if it is consistent with the applicable 
certified Fiscal Plan. 
(k) CIVIL ACTIONS TO ENFORCE POWERS.—The 
Oversight Board may seek judicial enforcement of its au-
thority to carry out its responsibilities under this Act. 
(l) PENALTIES.— 
(1) ACTS
PROHIBITED.—Any officer or em-
ployee of the territorial government who prepares, 
presents, or certifies any information or report for 
the Oversight Board or any of its agents that is in-
tentionally false or misleading, or, upon learning 
that any such information is false or misleading, 
fails to immediately advise the Oversight Board or 
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