Recognizing the need for a sustainable, economically viable, and fair debt restructuring plan for the Puerto Rico Electric Power Authority.

Hozzl · 2023-12-15T15:51:03Z

Explore the details of House Bill 55 Recognizing the need for a sustainable, economically viable, and fair debt restructuring plan for the Puerto Rico Electric Power Authority. currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

12/15/2023, 3:51 PM

Summary of Bill HCONRES 55

Bill 118 H.Con.Res. 55, also known as the "Recognizing the need for a sustainable, economically viable, and fair debt restructuring plan for the Puerto Rico Electric Power Authority," is a piece of legislation introduced in the US Congress. The bill aims to address the financial challenges faced by the Puerto Rico Electric Power Authority (PREPA) and develop a plan to restructure its debt in a sustainable and fair manner.

The bill recognizes the importance of ensuring that PREPA, which provides electricity to the residents of Puerto Rico, remains financially stable and able to meet the energy needs of the island. It acknowledges that the current debt burden of PREPA is unsustainable and poses a threat to the economic viability of the authority.

The legislation calls for the development of a debt restructuring plan that is economically viable and fair to all parties involved. This plan would aim to reduce the debt burden of PREPA while ensuring that the authority remains financially solvent and able to provide reliable electricity services to the people of Puerto Rico. Overall, Bill 118 H.Con.Res. 55 seeks to address the financial challenges faced by PREPA in a thoughtful and non-partisan manner, with the goal of developing a sustainable and fair debt restructuring plan that will benefit both the authority and the people of Puerto Rico.

Congressional Summary of HCONRES 55

This concurrent resolution recognizes the importance of the debt adjustment proceeding for the Puerto Rico Electric Power Authority (PREPA). The concurrent resolution also urges the Financial Oversight and Management Board for Puerto Rico to put forth a PREPA restructuring plan that is economically viable, allows for the rehabilitation of Puerto Rico's electrical system, and does not impose additional increases to electric rates.

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Current Status of Bill HCONRES 55

Bill HCONRES 55 is currently in the status of Bill Introduced since June 30, 2023. Bill HCONRES 55 was introduced during Congress 118 and was introduced to the House on June 30, 2023. Bill HCONRES 55's most recent activity was Referred to the House Committee on Natural Resources. as of June 30, 2023

Bipartisan Support of Bill HCONRES 55

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HCONRES 55

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill HCONRES 55

Recognizing the need for a sustainable, economically viable, and fair debt restructuring plan for the Puerto Rico Electric Power Authority.Recognizing the need for a sustainable, economically viable, and fair debt restructuring plan for the Puerto Rico Electric Power Authority.

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