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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 48 U.S.C. § 2149 Termination of Oversight Board us united_states_code code_section 48 TERRITORIES AND INSULAR POSSESSIONS 20 PUERTO RICO OVERSIGHT, MANAGEMENT, AND ECONOMIC STABILITY 2149 48 U.S.C. § 2149 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc48@119-100.zip /us/usc/t48/s2149 data/legal/raw/us/code/title-48/usc48.xml fd491e23c078b814ab3c6ea31573bce8086210b774cc7cba0f57725f901b43f0 2f9a72ec272e6666d7f55f52cc3186aefc6368ca4cc2b9053a531de2fb9288c2 704f2d20425b18fc3c02ad5fb21b99ea8be6a908215e337840db6ccb60d0aa63 2026-07-04 official
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48 U.S.C. § 2149 - Termination of Oversight Board

Text

An Oversight Board shall terminate upon certification by the Oversight Board that—

(1) the applicable territorial government has adequate access to short-term and long-term credit markets at reasonable interest rates to meet the borrowing needs of the territorial government; and

(2) for at least 4 consecutive fiscal years—

(A) the territorial government has developed its Budgets in accordance with modified accrual accounting standards; and

(B) the expenditures made by the territorial government during each fiscal year did not exceed the revenues of the territorial government during that year, as determined in accordance with modified accrual accounting standards.

(Pub. L. 114187, title II, § 209, June 30, 2016, 130 Stat. 576.)