,,ii ,calendar ,no4 #ahb #aagth         
,,congress  #ast ,session  ,h4 ,r4 #aaib
 ,report ,no4 #aag-dh ,,in ,,the        
,,senate ,,of ,,the ,,united ,,states   
,february #be1 #bjba,received2 read     
twice and referred to the ,committee on 
,energy and ,natural ,resources         
,december #ac1 #bjba,reported by ,mr4   
,manchin1 with an amendment,strike out  
all after the enacting clause and insert
 the part printed in italic  ,,an ,,act 
,to impose requirements on the payment  
of compensation to professional persons 
employed in voluntary cases commenced   
under title ,,iii of the ,puerto ,rico  
,oversight ,management and ,economic    
,stability ,act 7commonly known as      
,,promesa74  #a4 ,short title ,this ,act
 may be cited as the ,puerto ,rico      
,recovery ,accuracy in ,disclosures ,act
 of #bjba or ,,prrada4  #b4 ,disclosure 
by professional persons seeking approval
 of compensation under section #caf or  
#cag of ,,promesa  7a7 ,required        
disclosure  7#a7 ,in general ,in a      

voluntary case commenced under section  
#cjd of ,,promesa 7#dh ,u4,s4,c4 #bafd71
 no attorney1 accountant1 appraiser1    
auctioneer1 agent1 consultant1 or other 
professional person may be compensated  
under section #caf or #cag of that ,act 
7#dh ,u4,s4,c4 #bagf1 #bagg7 unless     
prior to making a request for           
compensation1 the professional person   
has submitted a verified statement      
conforming to the disclosure            
requirements of rule #bjad7;a7 of the   
,federal ,rules of ,bankruptcy          
,procedure setting forth the connection 
of the professional person with-- 7,a7  
the debtor2  7,b7 any creditor2  7,c7   
any other party in interest1 including  
any attorney or accountant2  7,d7 the   
,financial ,oversight and ,management   
,board established in accordance with   
section #aja of ,,promesa 7#dh ,u4,s4,c4
 #baba72 and  7,e7 any person employed  
by the ,oversight ,board described in   
subparagraph 7,d74  7#b7 ,other         
requirements ,a professional person that

 submits a statement under paragraph    
7#a7 shall-- 7,a7 supplement the        
statement with any additional relevant  
information that becomes known to the   
person2 and  7,b7 file annually a notice
 confirming the accuracy of the         
statement4  7b7 ,review  7#a7 ,in       
general ,the ,united ,states ,trustee   
shall review each verified statement    
submitted pursuant to subsection 7a7 and
 may file with the court comments on    
such verified statements before the     
professionals filing such statements    
seek compensation under section #caf or 
#cag of ,,promesa 7#dh ,u4,s4,c4 #bagf1 
#bagg74  7#b7 ,objection ,the ,united   
,states ,trustee may object to          
compensation applications filed under   
section #caf or #cag of ,,promesa 7#dh  
,u4,s4,c4 #bagf1 #bagg7 that fail to    
satisfy the requirements of subsection  
7e74  7#c7 ,right to be heard ,each     
person described in section #aaji of    
title #aa1 ,united ,states ,code1 may   
appear and be heard on any issue in a   

case under this section4  7c7           
,jurisdiction ,the district courts of   
the ,united ,states shall have          
jurisdiction of all cases under this    
section4  7d7 ,retroactivity  7#a7 ,in  
general ,if a court has entered an order
 approving compensation under a case    
commenced under section #cjd of         
,,promesa 7#dh ,u4,s4,c4 #bafd71 each   
professional person subject to the order
 shall file a verified statement in     
accordance with subsection 7a7 not later
 than #fj days after the date of        
enactment of this ,act4  7#b7 ,no delay 
,a court may not delay any proceeding in
 connection with a case commenced under 
section #cjd of ,,promesa 7#dh ,u4,s4,c4
 #bafd7 pending the filing of a verified
 statement under paragraph 7#a74  7e7   
,limitation on compensation  7#a7 ,in   
general ,in a voluntary case commenced  
under section #cjd of ,,promesa 7#dh    
,u4,s4,c4 #bafd71 in connection with the
 review and approval of professional    
compensation under section #caf or #cag 

of ,,promesa 7#dh ,u4,s4,c4 #bagf1      
#bagg71 the court may deny allowance of 
compensation for services and           
reimbursement of expenses1 accruing     
after the date of the enactment of this 
,act of a professional person if the    
professional person-- 7,a7 has failed to
 file statements of connections required
 by subsection 7a7 or has filed         
inadequate statements of connections2   
7,b7 except as provided in paragraph    
7#c71 is on or after the date of        
enactment of this ,act not a            
disinterested person1 as defined in     
section #aja of title #aa1 ,united      
,states ,code2 or  7,c7 except as       
provided in paragraph 7#c71 represents1 
or holds an interest adverse to1 the    
interest of the estate with respect to  
the matter on which such professional   
person is employed4  7#b7               
,considerations ,in making a            
determination under paragraph 7#a71 the 
court may take into consideration       
whether the services and expenses are in

 the best interests of creditors and the
 estate4  7#c7 ,committee professional  
standards ,an attorney or accountant    
described in section #aajc7;b7 of title 
#aa1 ,united ,states ,code1 shall be    
deemed to have violated paragraph 7#a7  
if the attorney or accountant violates  
section #aajc7;b7 of title #aa1 ,united 
,states ,code4  #a4 ,short title ,this  
,act may be cited as the ,puerto ,rico  
,recovery ,accuracy in ,disclosures ,act
 of #bjba or ,,prrada4  #b4 ,disclosure 
by professional persons seeking approval
 of compensation under section #caf or  
#cag of ,,promesa  7a7 ,definitions ,in 
this section3 7#a7 ,list of ,material   
,interested ,parties ,the term ,list of 
,material ,interested ,parties means the
 ,list of ,material ,interested ,parties
 established under subsection 7c77#a74  
7#b7 ,oversight ,board ,the term        
,oversight ,board has the meaning given 
the term in section #e of ,,promesa 7#dh
 ,u4,s4,c4 #bajd74  7b7 ,required       
disclosure  7#a7 ,in general ,in a case 

commenced under section #cjd of         
,,promesa 7#dh ,u4,s4,c4 #bafd71 no     
attorney1 accountant1 appraiser1        
auctioneer1 agent1 or other professional
 person may be compensated under section
 #caf or #cag of that ,act 7#dh         
,u4,s4,c4 #bagf1 #bagg7 unless prior to 
making a request for compensation1 the  
professional person has filed with the  
court a verified statement conforming to
 the disclosure requirements of rule    
#bjad7;a7 of the ,federal ,rules of     
,bankruptcy ,procedure setting forth the
 connection of the professional person  
with any entity or person on the ,list  
of ,material ,interested ,parties4  7#b7
 ,supplement ,a professional person that
 submits a statement under paragraph    
7#a7 shall promptly supplement the      
statement with any additional relevant  
information that becomes known to the   
person4  7#c7 ,disclosure ,subject to   
any other applicable law1 rule1 or      
regulation1 a professional person that  
fails to file or update a statement     

required under paragraph 7#a7 or files a
 statement that the court determines    
does not represent a good faith effort  
to comply with this section shall       
disclose such failure in any filing     
required to conform to the disclosure   
requirements under rule #bjad7;a7 of the
 ,federal ,rules of ,bankruptcy         
,procedure4  7c7 ,list of material      
interested parties  7#a7 ,preparation   
,not later than #cj days after the date 
of enactment of this ,act1 the          
,oversight ,board shall establish a     
,list of ,material ,interested ,parties 
subject to-- 7,a7 the approval of the   
court2 and  7,b7 the right of the       
,united ,states trustee or any party in 
interest to be heard on the approval4   
7#b7 ,inclusions ,except as provided in 
paragraph 7#c71 the ,list of ,material  
,interested ,parties shall include--    
7,a7 the debtor2  7,b7 any creditor2    
7,c7 any other party in interest2  7,d7 
any attorney or accountant of-- 7i7 the 
debtor2  7ii7 any creditor2 or  7iii7   

any other party in interest2  7,e7 the  
,united ,states trustee and any person  
employed in the office of the ,united   
,states trustee2 and  7,f7 the          
,oversight ,board1 including the        
members1 the ,executive ,director1 and  
the employees of the ,oversight ,board4 
7#c7 ,exclusions ,the ,list of ,material
 ,interested ,parties may not include   
any person with a claim1 the amount of  
which is below a threshold dollar amount
 established by the court that is       
consistent with the purpose of this     
,act4  7d7 ,review  7#a7 ,in general    
,the ,united ,states trustee shall      
review each verified statement submitted
 pursuant to subsection 7b7 and may file
 with the court comments on such        
verified statements before the          
professionals filing such statements    
seek compensation under section #caf or 
#cag of ,,promesa 7#dh ,u4,s4,c4 #bagf1 
#bagg74  7#b7 ,objection ,the ,united   
,states trustee may object to           
applications filed under section #caf or

 #cag of ,,promesa 7#dh ,u4,s4,c4 #bagf1
 #bagg7 that fail to satisfy the        
requirements of subsection 7b74  7e7    
,limitation on compensation ,in a case  
commenced under section #cjd of         
,,promesa 7#dh ,u4,s4,c4 #bafd71 in     
connection with the review and approval 
of professional compensation under      
section #caf or #cag of ,,promesa 7#dh  
,u4,s4,c4 #bagf1 #bagg7 filed after the 
date of enactment of this ,act1 the     
court may deny allowance of compensation
 or reimbursement of expenses if-- 7#a7 
the professional person has failed to   
file the verified disclosure statements 
required under subsection 7b77#a7 or has
 filed inadequate disclosure statements 
under that subsection2 or  7#b7 during  
the professional person's employment in 
connection with the case1 the           
professional person-- 7,a7 is not a     
disinterested person 7as defined in     
section #aja of title #aa1 ,united      
,states ,code7 relative to any entity or
 person on the ,list of ,material       

,interested ,parties2 or  7,b7          
represents or holds an adverse interest 
in connection with the case4  ,december 
#ac1 #bjba,reported with an amendment