Legislative Reports on Estimates of Expenses and Impacts on Revenues of Bills and Laws Under PROMESA Act

[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4853 Introduced in House (IH)]

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118th CONGRESS
  1st Session
                                H. R. 4853

To amend PROMESA to authorize the legislature and require the Oversight 
   Board to take into consideration reports prepared by the relevant 
                 Budget Office, and for other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                             July 25, 2023

 Mrs. Chavez-DeRemer introduced the following bill; which was referred 
                 to the Committee on Natural Resources

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                                 A BILL


 
To amend PROMESA to authorize the legislature and require the Oversight 
   Board to take into consideration reports prepared by the relevant 
                 Budget Office, 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``Legislative Reports on Estimates of 
Expenses and Impacts on Revenues of Bills and Laws Under PROMESA Act''.

SEC. 2. PURPOSE.

    The purpose of this Act is to allow the use of the reports of the 
Legislature prepared by its Budget Office, so that the information in 
those reports may be taken into consideration by the Oversight Board in 
the evaluation of the estimates of expenses and impact on revenues of 
the bills approved and converted into law carried out by the Oversight 
Board under the Puerto Rico Oversight, Management, and Economic 
Stability Act.

SEC. 3. REVIEW OF ACTIVITIES TO ENSURE COMPLIANCE WITH FISCAL PLAN.

    Section 204(a) of the Puerto Rico Oversight, Management, and 
Economic Stability Act (48 U.S.C. 2144(a)) is amended--
            (1) in paragraph (1), by inserting ``and the Legislature'' 
        before the final period;
            (2) in paragraph (4)(A), by inserting ``and the 
        Legislature'' after ``direct the Governor''; and
            (3) in paragraph (6)--
                    (A) in the heading, by inserting ``and legislature 
                reports'' after ``proposed acts''; and
                    (B) by adding at the end, the following: ``In 
                addition, the Legislature, through its Budget Office, 
                and in a proactive manner, may send to the Oversight 
                Board reports with formal estimates of expenses and 
                impacts on revenues, if any, of the bills they approve, 
                so that the information in the reports may be taken 
                into consideration by the Oversight Board in its 
                analysis and determinations.''.

SEC. 4. EFFECTIVE DATE.

    This Act shall take effect 90 days after the date of the enactment 
of this Act.
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