Sec. 205. Puerto Rico Debt Restructuring Compensation Fund
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On the date of a discharge of the debt of the Commonwealth of Puerto Rico and the instrumentalities of the Commonwealth of Puerto Rico under section 101, there is established in the Treasury of the United States a fund to be known as the Puerto Rico Debt Restructuring Compensation Fund , consisting of amounts appropriated into the Fund under subsection (b). There is appropriated to the Fund, out of any funds in the Treasury of the United States not otherwise appropriated, $15,000,000,000, which shall be available without further appropriation to the Special Master to provide compensation for claims of eligible persons under this title.
The amount necessary to carry out this Act is designated by Congress as being for emergency requirements pursuant to section 251(b)(2)(A)(i) of the Balanced Budget and Emergency Deficit Control Act of 1985 ( 2 U.S.C. 901(b)(2)(A)(i) ). This Act is designated as an emergency requirement pursuant to section 4(g) of the Statutory Pay-As-You-Go Act of 2010 ( 2 U.S.C. 933(g) ). In the Senate, this Act is designated as an emergency requirement pursuant to section 403(a) of Senate Concurrent Resolution 13, 111th Congress, agreed to April 29, 2009.
Of the amounts appropriated into the Fund under subsection (b)— 50 percent shall be made available to pay claims of eligible persons described in section 204(c)(2)(A); and 50 percent shall be made available to pay claims of eligible persons described in section 204(c)(2)(B). If the claims of eligible persons described in section 204(c)(2)(A) or of eligible persons described in section 204(c)(2)(B) exceed the amounts appropriated to pay those respective claims under paragraph (1), any claim of an eligible person within that respective category shall be reduced on a pro rata basis.
For the purpose of reducing claims under paragraph (2), the Special Master shall determine a date on which all claims of eligible persons shall be paid. Any amounts made available under subsection
(b)that are not obligated by the Special Master as of the date that is 36 months after the date of enactment of this Act shall be returned to the Treasury of the United States.
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