About the bill
The Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) is a 2016 US federal law that established an oversight board, a process for restructuring debt, and expedited procedures for approving critical infrastructure projects in order to combat the Puerto Rican government-debt crisis. Through PROMESA, the US Congress established an unelected Fiscal Control Board (FCB) to oversee the debt restructuring. With this protection the then-governor of Puerto Rico, Alejandro García Padilla, suspended payments due on July 1, 2016. The FCB's approved fiscal austerity plan for 2017-2026, cut deeply into ...
Sponsor and status
114th Congress, 2015–2017
Enacted — Signed by the President on Jun 30, 2016
This bill was enacted after being signed by the President on June 30, 2016.
Position statements
What legislators are saying
“Merkley Statement on Puerto Rico”
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Sen. Jeff Merkley [D-OR]
on Jun 29, 2016
“Senator Lankford Supports Oversight Board for Puerto Rico”
—
Sen. James Lankford [R-OK]
on Jun 29, 2016
Incorporated legislation
This bill incorporates provisions from:
History
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Nov 19, 2015
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Introduced
Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.
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Nov 19, 2015
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Passed Senate (House next)
The bill was passed in a vote in the Senate. It goes to the House next. The vote was by Unanimous Consent so no record of individual votes was made. |
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Jun 9, 2016
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Identical Bill —
Passed House (Senate next)
This activity took place on a related bill, H.R. 5278 (114th), possibly in lieu of similar activity on S. 2328 (114th). |
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Jun 9, 2016
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Text Published
Updated bill text was published as of Passed the House with an Amendment. |
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Jun 29, 2016
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Senate Agreed to Changes
The bill was passed by both chambers in identical form. It goes to the President next who may sign or veto the bill. |
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Jun 30, 2016
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Enacted — Signed by the President
The President signed the bill and it became law.
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S. 2328 (114th) was a bill in the United States Congress.
A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.
This bill was introduced in the 114th Congress, which met from Jan 6, 2015 to Jan 3, 2017. Legislation not enacted by the end of a Congress is cleared from the books.
How to cite this information.
We recommend the following MLA-formatted citation when using the information you see here in academic work:
“S. 2328 — 114th Congress: PROMESA.” www.GovTrack.us. 2015. September 19, 2019 <https://www.govtrack.us/congress/bills/114/s2328>
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Where is this information from?
GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.
