What is the official ID of this bill?

The official print number for this legislation is HR 1702.

When did the legislative process begin?

The process officially started on 2023-03-22.

Where can I read the full text of this legislation?

The full official text is available at: https://www.congress.gov/118/bills/hr1702/BILLS-118hr1702ih.htm

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

Who is the primary sponsor?

The primary sponsor is Rescom. González-Colón, Jenniffer [R-PR-At Large].

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Indian and Insular Affairs .

Analysis and Potential Impact of HR 1702

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

New Ethics Rules for PROMESA Oversight Board Advisors

Q: What are the main provisions?

Key points include: Advisory firms cannot advise the Oversight Board if they also work for companies competing for territorial government contracts. Mandatory certifications of no conflict of interest are introduced, with legal penalties for false information. The Oversight Board must report violations of these rules to the Attorney General, increasing transparency and accountability.

This bill introduces new rules to prevent conflicts of interest among advisory firms working with the Financial Oversight and Management Board. This aims to ensure that decisions regarding U.S. territories' finances are made without bias, which can indirectly impact economic stability and the quality of public services for residents.

Key points

Advisory firms cannot advise the Oversight Board if they also work for companies competing for territorial government contracts.

Mandatory certifications of no conflict of interest are introduced, with legal penalties for false information.

The Oversight Board must report violations of these rules to the Attorney General, increasing transparency and accountability.

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Status:

Expired

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Additional Information

To amend PROMESA to include certain ethics provisions to provide for the disqualification of certain advisors to the Financial Oversight and Management Board, and for other purposes.

Print number: HR 1702

Sponsor: Rescom. González-Colón, Jenniffer [R-PR-At Large]

Process start date: 2023-03-22

System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.

Summarized by: gemini-2.5-flash-preview-05-20

Source data: api.congress.gov

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New Ethics Rules for PROMESA Oversight Board Advisors

Key Questions about New Ethics Rules for PROMESA Oversight Board Advisors