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Increased Local Influence on Puerto Rico's Finances

This act allows Puerto Rico's local legislature, through its Budget Office, to proactively submit reports on the expenses and revenue impacts of new bills to the Oversight Board. This means the Oversight Board must consider these local analyses when evaluating the financial implications of legislation, potentially leading to more informed decisions regarding public spending and revenue, and impacting the region's economic stability.
Key points
Puerto Rico's local legislature can now proactively submit financial analyses of new bills.
The Oversight Board must consider these local reports when assessing the financial impact of legislation.
The changes aim to increase transparency and incorporate local perspectives in Puerto Rico's financial management.
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Additional Information
Print number: 118_HR_4853
Sponsor: Rep. Chavez-DeRemer, Lori [R-OR-5]
Process start date: 2023-07-25
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

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

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_4853.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-07-25.

What are the main provisions?

Key points include:

  • Puerto Rico's local legislature can now proactively submit financial analyses of new bills.
  • The Oversight Board must consider these local reports when assessing the financial impact of legislation.
  • The changes aim to increase transparency and incorporate local perspectives in Puerto Rico's financial management.
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 Rep. Chavez-DeRemer, Lori [R-OR-5].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Natural Resources.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Economy Local Government