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Puerto Rico Recovery: Transparency in Professional Compensation

New rules increase transparency in public spending in Puerto Rico. Professionals hired for financial restructuring must disclose their connections and compensation, aiming to protect the interests of residents and creditors. Citizens can be assured that expenditures are controlled and individuals with conflicts of interest will not receive payments.
Key points
Increased Transparency: Lawyers, accountants, and other professionals working on Puerto Rico's restructuring must disclose their connections and compensation.
Expense Control: The court and a special trustee will review this information to prevent conflicts of interest and unjustified payments.
Protecting Interests: The goal is to ensure that money is spent fairly and beneficially for the people of Puerto Rico and their creditors.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_S_375
Sponsor: Sen. Menendez, Robert [D-NJ]
Process start date: 2021-02-23
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

PRRADA

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_375.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-02-23.

What are the main provisions?

Key points include:

  • Increased Transparency: Lawyers, accountants, and other professionals working on Puerto Rico's restructuring must disclose their connections and compensation.
  • Expense Control: The court and a special trustee will review this information to prevent conflicts of interest and unjustified payments.
  • Protecting Interests: The goal is to ensure that money is spent fairly and beneficially for the people of Puerto Rico and their creditors.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Menendez, Robert [D-NJ].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Economy Courts and Law Public Investments