Sec. 501. Assistance by the Authority, if necessary, to assist transition to stability
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/bill/114/s/2381/is/section-501A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
There is authorized to be appropriated, and there is appropriated, $3,000,000,000. Such amount shall remain available through fiscal year 2016. Amount appropriated under subsection
(a)may be used by the Authority to provide resources, if the Authority determines it to be necessary, to assist the transition of the Commonwealth to financial, fiscal, economic, and health care stability. If the Authority provides funds to the Commonwealth under subsection (b), the Authority shall, not later than 30 days prior to allocating such funds, submit a report concerning the reasons for the use of such funds, including the perceived need for transition assistance and empirical analysis verifying such need, to— the Committee on Finance and the Committee on Energy and Natural Resources of the Senate; the Committee on Ways and Means and the Committee on Natural Resources of the House of Representatives; the Resident Commissioner of the Commonwealth; and the Governor. The Comptroller General shall— conduct an audit of the use of funds provided to Puerto Rico under subsection (b); and when practicable, submit to the appropriate committees of Congress a report detailing the expenditures under this section and the purpose of such expenditures.