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Code · BILL · 114th Congress · H.R. 4900 (Introduced in House) — To establish an Oversight Board to assist the Government of Puerto Rico, including instrumentalities, in managing its... · Sec. 107

Sec. 107. Budget and funding for operation of Oversight Board

137 words·~1 min read·/bill/114/hr/4900/ih/section-107·

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The Oversight Board shall submit a budget for each fiscal year during which the Oversight Board is in operation, to the President, the House of Representatives Committee on Natural Resources and the Senate Committee on Energy and Natural Resources, the Governor, and the Legislature. The Oversight Board may use its powers with respect to the Territory Budget of the covered territory to ensure that sufficient funds are available to cover all expenses of the Oversight Board. If the Oversight Board elects to do so— the Oversight Board shall submit to the Governor and the Legislature the budget described in subsection (a); and the territorial government shall designate a dedicated funding source, not subject to subsequent legislative appropriations, sufficient to support the annual expenses of the Oversight Board as determined in the Oversight Board’s sole and exclusive discretion.
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