To impose requirements on the payment of compensation to professional persons employed in voluntary cases commenced under title III of the Puerto Rico Oversight Management and Economic Stability Act (commonly known as "PROMESA").
Puerto Rico Recovery Accuracy in Disclosures Act of 2021 or PRRADA
This bill requires professionals employed in debt adjustment cases involving Puerto Rico to file verified statements disclosing their connections with interested parties before seeking compensation for their services.
The Financial Oversight and Management Board for Puerto Rico must establish a list of such interested parties, which shall include the debtor, creditors, any attorney or accountant of the debtor or creditors, persons employed by the U.S. Trustee Program, persons employed by the board, and any other interested party.
Compensation may be denied to such a professional if these disclosures are not filed, are inadequate, or if the professional is found to have certain conflicts of interest.
Committee on Energy and Natural Resources. Hearings held.
Received in the Senate and Read twice and referred to the Committee on Energy and Natural Resources.
Committee on Energy and Natural Resources. Hearings held.
Committee on Energy and Natural Resources. Ordered to be reported with an amendment in the nature of a substitute favorably.
Committee on Energy and Natural Resources. Reported by Senator Manchin with an amendment in the nature of a substitute. With written report No. 117-48. Additional views filed.
Committee on Energy and Natural Resources. Reported by Senator Manchin with an amendment in the nature of a substitute. With written report No. 117-48. Additional views filed.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 182.
Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.
Passed Senate with an amendment by Unanimous Consent. (consideration: CR S9307-9308; text: CR S9307-9308)
Message on Senate action sent to the House.
Ms. Dean moved that the House suspend the rules and agree to the Senate amendment. (consideration: CR H230-232)
Enacted as Public Law 117-82
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DEBATE - The House proceeded with forty minutes of debate on motion to agree to the Senate amendment to H.R. 1192.
Resolving differences -- House actions: On motion that the House suspend the rules and agree to the Senate amendment Agreed to by voice vote.(text: CR H230-231)
On motion that the House suspend the rules and agree to the Senate amendment Agreed to by voice vote. (text: CR H230-231)
Motion to reconsider laid on the table Agreed to without objection.
Presented to President.
Presented to President.
Signed by President.
Signed by President.
Became Public Law No: 117-82.
Became Public Law No: 117-82.