H.R. 7833

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7833 Introduced in House (IH)]

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119th CONGRESS
2d Session
H. R. 7833

To amend the Puerto Rico Oversight, Management, and Economic Stability 
Act to provide for the termination of the Oversight Board under certain 
circumstances, and for other purposes.

_______________________________________________________________________

IN THE HOUSE OF REPRESENTATIVES

March 5, 2026

Mr. Krishnamoorthi (for himself and Mr. Soto) introduced the following 
bill; which was referred to the Committee on Natural Resources, and in 
addition to the Committee on the Judiciary, for a period to be 
subsequently determined by the Speaker, in each case for consideration 
of such provisions as fall within the jurisdiction of the committee 
concerned

_______________________________________________________________________

A BILL

To amend the Puerto Rico Oversight, Management, and Economic Stability 
Act to provide for the termination of the Oversight Board under certain 
circumstances, and for other purposes.

Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``Puerto Rican People's Power 
Restoration Act of 2026''.

SEC. 2. TERMINATION OF OVERSIGHT BOARD.

Section 209 of the Puerto Rico Oversight, Management, and Economic 
Stability Act (48 U.S.C. 2149) is amended as follows:
(1) By striking ``An Oversight Board'' and inserting the 
following: ``(a) In General.--Except as provided in subsection 
(b), an Oversight Board''.
(2) By adding at the end the following new subsection:
``(b) Enactment of Legislation.--Notwithstanding subsection (a), an 
Oversight Board shall terminate the day after the date of the enactment 
of legislation by the Commonwealth of Puerto Rico, on or after the date 
of the enactment of this subsection, that designates or establishes a 
successor entity for such Board.''.

SEC. 3. SUBSTITUTION OF DEBTOR REPRESENTATION.

Section 315(b) of the Puerto Rico Oversight, Management, and 
Economic Stability Act (48 U.S.C. 2175(b)) is amended as follows:
(1) By striking ``The Oversight Board'' and inserting the 
following: ``(1) In general.--Except as provided in paragraph 
(2), the Oversight Board''.
(2) By adding at the end the following new paragraph:
``(2) Puerto rico electric power authority.--
``(A) Substitute representative.--On and after the 
date of the enactment of applicable legislation by the 
Commonwealth of Puerto Rico designating or establishing 
an entity as described in section 209(b), the Puerto 
Rico Electric Power Authority, its governing board, or 
other successor entity, as specified in such 
legislation, shall be the representative of the debtor 
for all cases initiated under this title on or after 
such date of enactment.
``(B) Staff.--Unless otherwise explicitly provided 
by the applicable legislation described in subparagraph 
(A), all of the professionals, advisors, and counsel 
engaged by the Oversight Board prior to the date of the 
enactment of such legislation shall be retained by the 
substituted representative.''.

SEC. 4. RULES OF CONSTRUCTION.

None of the amendments made by this Act may be construed--
(1) to alter or affect any of the requirements with respect 
to confirmation under section 314 of the Puerto Rico Oversight, 
Management, and Economic Stability Act (48 U.S.C. 2174);
(2) to invalidate any fiscal plan or budget certified prior 
to the date of the enactment of this Act, until modified by a 
representative substituted in accordance with the amendment 
made by section 3, or by confirmation of a plan of adjustment; 
or
(3) to alter or affect the jurisdiction of the United 
States District Court for the District of Puerto Rico as the 
court of competent jurisdiction under section 306 of the Puerto 
Rico Oversight, Management, and Economic Stability Act (48 
U.S.C. 2166).
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