,i #aagth ,,congress #b;d ,session ,h4 ,r4 #gdji ,,in ,,the ,,house ,,of ,,representatives ,april #e1 #bjbb,mr4 ,torres of ,new ,york 7for himself1 ,miss ,gonzlez-,coln1 ,ms4 ,velzquez1 ,mr4 ,soto1 and ,mr4 ,grijalva7 introduced the following bill2 which was referred to the ,committee on ,natural ,resources1 and in addition to the ,committee on the ,judiciary1 for a period to be subsequently determined by the ,speaker1 in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned ,a ,,bill ,to modify the conditions for the termination of an oversight board1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,territorial ,relief ,under ,sustainable ,transitions for ,puerto ,rico ,act of #bjbb or the ,,trust for ,puerto ,rico ,act of #bjbb4 #b4 ,modification to conditions for termination 7a7 ,in general ,section #bji of the ,puerto ,rico ,oversight1 ,management1 and ,economic ,stability ,act 7#dh ,u4,s4,c4 #badi7 is amended-- 7#a7 in the matter preceding paragraph 7#a71 by striking upon and inserting not later than #ij days after2 7#b7 by striking paragraph 7#a72 and 7#c7 in paragraph 7#b7-- 7,a7 in the matter preceding subparagraph 7,a71 by striking at least #d and inserting at least #b2 and 7,b7 in subparagraph 7,b71 by inserting and without regard to whether the applicable ,budget provides for the payment of debt service after standards4 7b7 ,effective date ,each amendment made by subsection 7a7 shall take effect and apply as if enacted as part of the ,puerto ,rico ,oversight1 ,management1 and ,economic ,stability ,act4 7c7 ,transfer of functions ,upon certification of an ,oversight ,board under section #bji of the ,puerto ,rico ,oversight1 ,management1 and ,economic ,stability ,act 7#dh ,u4,s4,c4 #badi71 as amended by subsection 7a71 and upon the adoption of a resolution by the legislature of a territory and signed by that territory's governor setting forth the manner in which such termination shall be implemented-- 7#a7 all property1 funds1 assets1 and records of the ,oversight ,board shall be transferred to the territorial government in accordance with the transition provisions established by such adopted resolution2 7#b7 a copy of all such records of the ,oversight ,board shall be transmitted to ,congress2 7#c7 with respect to any pending action under title ,,iii of the ,puerto ,rico ,oversight1 ,management1 and ,economic ,stability ,act 7#dh ,u4,s4,c4 #bafa et seq47 as of the date of the adoption of such resolution1 the duties and responsibilities of the ,oversight ,board 7including the role and capacity set forth under section #cae of such title7 with respect to such action1 as of the day before such date of adoption1 shall be transferred to the territorial government in accordance with the provisions of such adopted resolution2 7#d7 with respect to any action taken pursuant to the authorities under title ,,vi of the ,puerto ,rico ,oversight1 ,management1 and ,economic ,stability ,act 7#dh ,u4,s4,c4 #baia et seq47 on or after the date of the adoption of such resolution1 the duties1 responsibilities1 and all applicable powers and roles of the ,oversight ,board1 including under any other provision of such ,act relating to such action1 shall become the duties1 responsibilities1 powers1 and roles1 respectively1 of the territorial government in accordance with the provisions of such adopted resolution2 7#e7 section #cjb of the ,puerto ,rico ,oversight1 ,management1 and ,economic ,stability ,act 7#dh ,u4,s4,c4 #bafb7 shall be applied with respect to such territorial government as if it read as follows3 #cjb4 ,who may be a debtor ,an entity may be a debtor under this title if-- 7#a7 the entity is-- 7,a7 a territory that has requested the establishment of an ,oversight ,board or has had an ,oversight ,board established for it by the ,united ,states ,congress in accordance with section #aja of this ,act2 or 7,b7 a covered territorial instrumentality of a territory described in paragraph 7#a77;,a72 7#b7 the ,oversight ,board-- 7,a7 has issued a certification under section #bjf7;b7 of this ,act for such entity2 or 7,b7 has terminated pursuant to section #bji and the territorial government has undertaken all duties and responsibilities under this title that were formerly assigned to the ,oversight ,board2 and 7#c7 the entity desires to effect a plan to adjust its debts4 2 7#f7 the definition of covered territorial instrumentality in section #e7g7 of the ,puerto ,rico ,oversight1 ,management1 and ,economic ,stability ,act 7#dh ,u4,s4,c4 #bajd7g77 shall be applied as if or1 upon termination of the ,oversight ,board pursuant to section #bji1 designated by the covered territory to be subject to such requirements were inserted before the period at the end2 and 7#g7 the definition of administrative supervisor in section #fja7;a77#a7 of the ,puerto ,rico ,oversight1 ,management1 and ,economic ,stability ,act 7#dh ,u4,s4,c4 #bbca7;a77#a77 shall be applied as if or1 upon termination of the ,oversight ,board pursuant to section #bji1 the ,territory ,government ,issuer were inserted before the period at the end4