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119-hr-7833119th CongressWALLET

Puerto Rican People’s Power Restoration Act of 2026

Sponsored By: Representative Krishnamoorthi, Raja [D-IL-8]

Introduced

Summary

Termination of the Oversight Board would occur automatically when the Commonwealth enacts legislation naming a successor entity. The bill would also let the Puerto Rico Electric Power Authority or a Commonwealth-designated successor act as the debtor representative in PROMESA Title III cases and generally keep existing Oversight Board professionals unless local law says otherwise.

Show full summary
  • Puerto Rico government: The Commonwealth can trigger the Board's end by creating or naming a successor, shifting control over post-oversight governance to local law.
  • PREPA and local entities: PREPA or a designated successor would become the official debtor representative for Title III cases filed after the local law takes effect, changing who represents Puerto Rico in debt proceedings.
  • Oversight Board staff, fiscal plans, and courts: Existing advisors and counsel would be retained by the substituted representative unless the Commonwealth provides otherwise. Confirmation rules, certified fiscal plans and budgets, and the U.S. District Court's PROMESA jurisdiction remain in place unless modified by that local law.

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 0 costs, 1 mixed.

Protect certified fiscal plans and court jurisdiction

If enacted, the bill would not invalidate any fiscal plan or budget that was certified before this law takes effect. Certified plans would remain valid until the substituted representative changes them or until a plan of adjustment is confirmed. The bill would also keep the U.S. District Court for Puerto Rico as the court for PROMESA cases and would not change PROMESA's confirmation requirements.

End Oversight Board after Puerto Rico law

If enacted, the bill would end the federal Oversight Board the day after Puerto Rico enacts a law naming a successor entity. After that Puerto Rico law takes effect, PREPA, its governing board, or the named successor would represent debtors in PROMESA Title III cases filed on or after that date. Unless Puerto Rico's law says otherwise, professionals, advisors, and lawyers the Oversight Board hired before that law would remain engaged by the substituted representative.

Sponsors & CoSponsors

Sponsor

Krishnamoorthi, Raja [D-IL-8]

IL • D

Cosponsors

  • Rep. Soto, Darren [D-FL-9]

    FL • D

    Sponsored 3/5/2026

Roll Call Votes

No roll call votes available for this bill.

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