The U.S. territories of Puerto Rico, Guam, the Northern Mariana Islands, American Samoa and the U.S. Virgin Islands would be eligible jurisdictions under the proposal.
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115th CONGRESS
2d Session |
To provide the option of discharging certain unsecured financial obligations of self-governing territories of the United States. 1/
IN THE SENATE OF THE UNITED STATES
July 25, 2018
Ms. Warren (for herself, Mr. Sanders, Mrs. Gillibrand, Mr. Markey, and Ms. Harris) introduced the following bill; which was read twice and referred to the Committee on Energy and Natural Resources
A BILL
To provide the option of discharging certain unsecured financial obligations of self-governing territories of the United States.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
Sec. 1. Short title; table of contents.
Sec. 2. Definitions.
Sec. 3. Findings.
Sec. 101. Relief through exercise of the power to regulate commerce, the bankruptcy power, and the territorial power.
Sec. 102. Effect of discharge.
Sec. 103. Actions relating to the status of financial obligations.
Sec. 104. Notice of discharge.
Sec. 105. Effective date.
(a) Short Title.—This Act may be cited as the
“United States Territorial Relief Act of 2018”.
(b) Table Of Contents.—The table of contents for this Act is as follows:
Sec. 1. Short title; table of contents.
Sec. 2. Definitions.
Sec. 3. Findings.
Sec. 101. Relief through exercise of the power to regulate commerce, the bankruptcy power, and the territorial power.
Sec. 102. Effect of discharge.
Sec. 103. Actions relating to the status of financial obligations.
Sec. 104. Notice of discharge.
Sec. 105. Effective date.
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1/ International law recognises the U.S. dependencies as non self-governing territories administered under Article 73 of the United Nations Charter.
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