Public Law 114-187

E586788

Public Law 114-187 is a 2016 U.S. federal statute, known as the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA), that established a financial oversight board and restructuring process to address Puerto Rico’s debt crisis.

All labels observed (1)

Label Occurrences
Public Law 114-187 canonical 3

How this entity was disambiguated

Statements (49)

Predicate Object
instanceOf United States federal statute
economic stabilization law
public law
alsoKnownAs PROMESA
Puerto Rico Oversight, Management, and Economic Stability Act
appliesTo Government of Puerto Rico
Puerto Rico
instrumentalities of the Government of Puerto Rico
component Title I – Establishment and Organization of the Oversight Board
Title II – Responsibilities of the Oversight Board
Title III – Adjustment of Debts
Title IV – Miscellaneous Provisions
Title V – Puerto Rico Infrastructure Revitalization
Title VI – Creditor Collective Action
congressNumber 114th United States Congress
country United States
createdEntity Financial Oversight and Management Board for Puerto Rico
dateSigned 2016-06-30
effect created a federally appointed oversight board with authority over Puerto Rico’s fiscal policy
provided a legal mechanism to restructure Puerto Rico’s unsustainable debt load
enables territorial debt adjustment proceedings in federal court
enactedBy United States Congress
establishes Financial Oversight and Management Board for Puerto Rico
geographicScope territory of Puerto Rico
jurisdiction United States federal government
language English
legalCitation Public Law 114-187
officialName Puerto Rico Oversight, Management, and Economic Stability Act
policyArea U.S. territories
economy and finance
presidentAtSigning Barack Obama
provides a court-supervised debt restructuring process for Puerto Rico
a stay on creditor litigation under certain conditions
purpose to address Puerto Rico’s public debt crisis
to establish federal oversight of Puerto Rico’s fiscal policy
to provide a framework for restructuring Puerto Rico’s debts
regulates debt restructuring procedures for Puerto Rico
fiscal oversight of Puerto Rico
requires balanced budgets for Puerto Rico over the long term
fiscal plans for Puerto Rico approved by the oversight board
shortName PROMESA
signedBy Barack Obama
sponsorChamber United States House of Representatives
United States Senate
subjectMatter public finance
sovereign debt restructuring
territorial governance
typeOf territorial debt restructuring law
yearEnacted 2016

How these facts were elicited

Referenced by (3)

Full triples — surface form annotated when it differs from this entity's canonical label.

PROMESA codifiedIn Public Law 114-187
Public Law 114-187 legalCitation Public Law 114-187