I 
115TH CONGRESS 
2D SESSION 
H. R. 7355 
To impose requirements on the payment of compensation to professional 
persons employed in voluntary cases commenced under title III of the 
Puerto Rico Oversight Management and Economic Stability Act (com-
monly known as ‘‘PROMESA’’). 
IN THE HOUSE OF REPRESENTATIVES 
DECEMBER 19, 2018 
Ms. VELA´ZQUEZ (for herself, Miss GONZA´LEZ-COLO´N of Puerto Rico, Mr. GRI-
JALVA, Mr. BISHOP of Utah, and Mr. BIGGS) introduced the following 
bill; which was referred to the Committee on the Judiciary 
A BILL 
To impose requirements on the payment of compensation 
to professional persons employed in voluntary cases com-
menced under title III of the Puerto Rico Oversight 
Management and Economic Stability Act (commonly 
known as ‘‘PROMESA’’). 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Puerto Rico Recovery 
Accuracy in Disclosures Act of 2018’’ or ‘‘(PRRADA)’’. 
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SEC. 2. DISCLOSURE BY PROFESSIONAL PERSONS EM-
PLOYED BY COURT ORDER. 
(a) REQUIRED DISCLOSURE.—In a voluntary case 
commenced under section 304 of the Puerto Rico Over-
sight Management and Economic Stability Act (commonly 
known as ‘‘PROMESA’’; 48 U.S.C. 2164), no attorneys, 
accountants, appraisers, auctioneers, agents, consultants, 
or other professional persons shall be compensated under 
section 316 of PROMESA (48 U.S.C. 2176) unless prior 
to making a request for compensation, such a professional 
person has submitted a verified statement conforming to 
the disclosure requirements of rule 2014(a) of the Federal 
Rules of Bankruptcy Procedure setting forth the profes-
sional person’s connections with the debtor, creditors, any 
other parties in interest, their respective attorneys and ac-
countants, the Oversight Board, and any person employed 
by the Oversight Board. Such statement shall include in-
formation on the identity of each entity or person with 
whom such professional person has a connection. Such 
professional person shall be required— 
(1) to supplement such verified statement as 
additional relevant information becomes known to 
such person; and 
(2) to file annually a notice confirming the ac-
curacy of such statement. 
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(b) REVIEW.—The United States Trustee shall re-
view each verified statement submitted pursuant to sub-
section (a) and may file with the court comments on such 
verified statements before the professionals filing such 
statements seek compensation under section 316 of 
PROMESA (48 U.S.C. 2176). The United States Trustee 
may also object to compensation applications filed under 
section 316 of PROMESA (48 U.S.C. 2176) that fail to 
satisfy the requirements of subsection (d) of this Act. 
Each person having standing under section 1109 of title 
11 of the United States Code shall also have standing 
under this section. The district court shall have jurisdic-
tion to adjudicate all matters arising under this section. 
(c) RETROACTIVITY.—If, at the time subsection (a) 
is enacted, the court has entered orders approving com-
pensation under cases commenced under section 304 of 
PROMESA (48 U.S.C. 2164) each professional person 
previously awarded compensation shall file a verified state-
ment in accordance with subsection (a) not later than 30 
days after such person’s first request for compensation 
under section 316 of PROMESA (48 U.S.C. 2176) occur-
ring after the date of the enactment of this Act, except 
that the court may not delay any proceeding in connection 
with a case commenced under section 304 of PROMESA 
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(48 U.S.C. 2164) pending the filing of such verified state-
ments. 
(d) LIMITATION ON COMPENSATION.—In a voluntary 
case commenced under section 304 of PROMESA (48 
U.S.C. 2164), in connection with the review and approval 
of professional compensation under section 316 of 
PROMESA (48 U.S.C. 2176), the court may deny allow-
ance of compensation for services and reimbursement of 
expenses, accruing after the date of the enactment of this 
Act of a professional person if such professional person— 
(1) has failed to file statements of connections 
required by subsection (a) or has filed inadequate 
statements of connections; 
(2) is at any time during such professional per-
son’s employment in such case not a disinterested 
person as defined in section 101(14) of title 11 of 
the United States Code; or 
(3) represents, or holds an interest adverse to, 
the interest of the estate with respect to the matter 
on which such professional person is employed, ex-
cept that the qualification standards for committee 
professionals shall be those set forth in section 
1103(b) of title 11 of the United States Code. 
Æ 
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