Document ID: ./input/supremecourt_opinions/opinions/19pdf/18-1334_8m58.pdf
Page Number: 19.0

Cite as:  590 U. S. ____ (2020) 

15 

Opinion of the Court 

The  government  of  Puerto  Rico  pays  the  Board’s  ex-
penses,  including  the  salaries  of  its  employees  (the  mem-
bers serve without pay).  §107, id., at 562; see §101(g), id., 
at 556.  The Board possesses investigatory powers.  It can 
hold hearings.  §104(a), id., at 558.  It can issue subpoenas,
subject to Puerto Rico’s limits on personal jurisdiction and
enforceable under Puerto Rico’s laws.  §104(f ), id., at 559. 
And it can enforce those subpoenas in (and only in) Puerto 
Rico’s courts.  §§104(f )(2), 106(a), id., at 559, 562. 

From  its  own  offices  in  or  outside  of  Puerto  Rico,  the 
Board works with the elected government of Puerto Rico to
develop a fiscal plan that provides “a method to achieve fis-
cal  responsibility  and  access  to  the  capital  markets.” 
§201(b), id., at 564.  If it finds it necessary, the Board can 
develop its own budget for Puerto Rico which is “deemed . . . 
approved”  and  becomes  the  operative  budget.    §202(e)(3), 
id.,  at  568.    It  can  ensure  compliance  with  the  plan  and 
budget by reviewing the Puerto Rico government’s laws and
spending  and  by  “direct[ing]”  corrections  or  taking  “such
[other]  actions  as  it  considers  necessary,”  including  pre-
venting a law from  taking effect.  §§203(d), 204(a),  id., at 
569, 571.  The Board controls the issuance of new debt for 
Puerto Rico.  §207, id., at 575. 

The Board also may initiate bankruptcy proceedings for 
Puerto Rico or its instrumentalities.  §304(a), id., at 579.  It 
may take any related “action necessary on behalf of,” and it
serves as “the representative of,” Puerto Rico or its instru-
mentalities.  §315, id., at 584.  These proceedings take place
in the U. S. District Court for Puerto Rico.  §307, id., at 582. 
To repeat: The Board has broad investigatory powers: It 
can administer oaths, issue subpoenas, take evidence and 
demand  data  from  governments  and  creditors  alike.  But 
these powers are backed by Puerto Rican, not federal, law:
Subpoenas are governed by Puerto Rico’s personal jurisdic-
tion statute; false testimony is punishable under the law of