r/title-48-TERRITORIES-AND-INSULAR-POSSESSIONS wiki — defined terms
The statute’s own glossary: every term Title 48 defines, in section order.
“Guam payor” applies in that section
the term “Guam payor” means the person from whom the item of income would be deemed to be received for purposes of claiming treaty benefits were Guam treated as part of the United States. (e) Substitution of terms In applying as the Guam Territorial income tax the income-tax laws in force in Guam pursuant to subsection (a) of this section, except where it is manifestly otherwise required, the applicable provisions of the Internal Revenue Codes of 1986 and 1939, shall be read so as to substitute “Guam” for “United States”, “Governor or his delegate” for “Secretary or his delegate”, “Governor or his delegate” for “Commissioner of Internal Revenue” and “Collector of Internal Revenue”, …
“person” applies throughout its chapter
the term “person” includes the government of Guam and the Guam Power Authority. The Secretary may place such stipulations as he deems appropriate on the bonds or other obligations he guarantees.
“1982 Territorial Energy Assessment” applies in that section
the term “1982 Territorial Energy Assessment” means the comprehensive energy plan prepared by the Secretary of Energy pursuant to subsection (c).
“insular area” applies in that section
the term “insular area” means American Samoa, the Commonwealth of the Northern Mariana Islands, the Commonwealth of Puerto Rico, the Federated States of Micronesia, Guam, the Republic of the Marshall Islands, the Republic of Palau, and the Virgin Islands; and;
“comprehensive energy plan” applies in that section
The term “comprehensive energy plan” means a comprehensive energy plan prepared and updated under subsections (c) and (e) of section 1492 of this title . (2) Energy action plan
“energy action plan” applies in that section
The term “energy action plan” means the plan required by subsection (d). (3) Freely Associated States
“Freely Associated States” applies in that section
The term “Freely Associated States” means the Federated States of Micronesia, the Republic of the Marshall Islands, and the Republic of Palau. (4) Insular areas
“insular areas” applies in that section
The term “insular areas” means American Samoa, the Commonwealth of the Northern Mariana Islands, Puerto Rico, Guam, and the Virgin Islands. (5) Secretary
“Secretary” applies in that section
The term “Secretary” means the Secretary of the Interior, except that, with respect to Puerto Rico, the term means, the Secretary of Energy. (6) Team
“team” applies in that section
The term “team” means the team established by the Secretary under subsection (b). (b) Establishment Not later than 180 days after December 16, 2014 (except in the case of Puerto Rico, in which case not later than 270 days after June 30, 2016 ), the Secretary shall, within the Empowering Insular Communities activity (except in the case of Puerto Rico), establish a team of technical, policy, and financial experts— (1) to develop an energy action plan addressing the energy needs of each of the insular areas and Freely Associated States; and (2) to assist each of the insular areas and Freely Associated States in implementing such plan.
“State” applies in that section
The term “State” includes the District of Columbia. (II) The taxes imposed by counties, municipalities, or any territory, dependency, or possession of the United States shall be treated as local taxes. (E) For exclusion of interest for purposes of Federal income taxation, see section 103 of title 26 . (c) Applicability of laws and ordinances; amendment or repeal The laws of the United States applicable to the Virgin Islands on July 22, 1954 , including laws made applicable to the Virgin Islands by or pursuant to the provisions of the Act of June 22, 1936 ( 49 Stat.
“Delegate” applies throughout its subchapter
the term “Delegate” means the Resident Representative referred to in section 1751 of this title .
“Commonwealth” applies in that section
The term “Commonwealth” means the Commonwealth of the Northern Mariana Islands. (2) Commonwealth Only Transition Worker
“Commonwealth Only Transition Worker” applies in that section
The term “Commonwealth Only Transition Worker” means an alien who has been admitted into the Commonwealth under the transition program and is eligible for a permit under subsection (d)(3). (3) Governor
“Governor” applies in that section
The term “Governor” means the Governor of the Commonwealth of the Northern Mariana Islands. (4) Secretary
“legitimate business” applies in that section
the term “legitimate business” means a real, active, and operating commercial or entrepreneurial undertaking that the Secretary, in the Secretary’s sole discretion, determines— (aa) produces services or goods for profit, or is a governmental, charitable, or other validly recognized nonprofit entity; (bb) meets applicable legal requirements for doing business in the Commonwealth; (cc) has substantially complied with wage and hour laws, occupational safety and health requirements, and all other Federal, Commonwealth, and local requirements related to employment during the preceding 5 years; (dd) does not directly or indirectly engage in, or knowingly benefit from, prostitution, human …
“Secretary” applies in that section
The term “Secretary” means the Secretary of Homeland Security. (5) Tax year
“tax year” applies in that section
The term “tax year” means the fiscal year immediately preceding the current fiscal year. (6) United States worker
“United States worker” applies in that section
The term “United States worker” means any worker who is— (A) a citizen or national of the United States; (B) an alien who has been lawfully admitted for permanent residence; or (C) a citizen of the Republic of the Marshall Islands, the Federated States of Micronesia, or the Republic of Palau (known collectively as the “Freely Associated States”) who has been lawfully admitted to the United States pursuant to— (i) section 141 of the Compact of Free Association between the Government of the United States and the Governments of the Marshall Islands and the Federated States of Micronesia ( 48 U.S.C.
“audits” applies in that section
the term “audits” includes financial, program, and management audits, including determining— (A) whether the Government of the Federated States of Micronesia has met the requirements set forth in the Compact, or any related agreement entered into under the Compact, regarding the purposes for which such grants and other assistance are to be used; and (B) the propriety of the financial transactions of the Government of the Federated States of Micronesia pursuant to such grants or assistance.
“audits” applies in that section
the term “audits” includes financial, program, and management audits, including determining— (A) whether the Government of the Marshall Islands has met the requirements set forth in the Compact, or any related agreement entered into under the Compact, regarding the purposes for which such grants and other assistance are to be used; and (B) the propriety of the financial transactions of the Government of the Marshall Islands pursuant to such grants or assistance.
“fishing” applies in that section
The terms “fishing” and “highly migratory species” have the same meanings as provided in paragraphs (10) and (14), 1 respectively, of section 3 of the Magnuson-Stevens Fishery Conservation and Management Act ( 16 U.S.C. 1802(10) and (14)).
“highly migratory species” applies in that section
The terms “fishing” and “highly migratory species” have the same meanings as provided in paragraphs (10) and (14), 1 respectively, of section 3 of the Magnuson-Stevens Fishery Conservation and Management Act ( 16 U.S.C. 1802(10) and (14)).
“United States territories and commonwealths” applies in that section
the term “United States territories and commonwealths” means the Commonwealth of Puerto Rico, the Virgin Islands, Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands. (6) Impact costs There are hereby authorized to be appropriated for fiscal years beginning after September 30, 1985 , such sums as may be necessary to cover the costs, if any, incurred by the State of Hawaii, the territories of Guam and American Samoa, and the Commonwealth of the Northern Mariana Islands resulting from any increased demands placed on educational and social services by immigrants from the Marshall Islands and the Federated States of Micronesia.
“vessel of the United States” applies in that section
The term “vessel of the United States” has the same meaning as provided in the first section of the Fishermen’s Protective Act of 1967 ( 22 U.S.C. 1971 ).;
“audits” applies in that section
the term “audits” includes financial, program, and management audits, including determining— (A) whether the Government of the Federated States of Micronesia has met the requirements set forth in the U.S.-FSM Compact, or any related agreement entered into under the U.S.-FSM Compact, regarding the purposes for which such grants and other assistance are to be used; and (B) the propriety of the financial transactions of the Government of the Federated States of Micronesia pursuant to such grants or assistance.
“audits” applies in that section
the term “audits” includes financial, program, and management audits, including determining— (A) whether the Government of the Republic of the Marshall Islands has met the requirements set forth in the U.S.-RMI Compact, or any related agreement entered into under the U.S.-RMI Compact, regarding the purposes for which such grants and other assistance are to be used; and (B) the propriety of the financial transactions of the Government of the Republic of the Marshall Islands pursuant to such grants or assistance.
“affected jurisdiction” applies throughout its part
the term “affected jurisdiction” means American Samoa, Guam, the Commonwealth of the Northern Mariana Islands, or the State of Hawaii; and;
“qualified nonimmigrant” applies throughout its part
the term “qualified nonimmigrant” means a person, or their children under the age of 18, admitted or resident pursuant to section 141 of the U.S.-RMI or U.S.-FSM Compact, or section 141 of the Palau Compact who, as of a date referenced in the most recently published enumeration is a resident of an affected jurisdiction. As used in this subsection, the term “resident” shall be a person who has a “residence,” as that term is defined in section 101(a)(33) of the Immigration and Nationality Act, as amended [ 8 U.S.C. 1101(a)(33) ].
“will provide funding” applies in that section
the term “will provide funding” means will provide funding through a transfer of funds using Standard Form 1151 or a similar document or through an interagency, reimbursable agreement. (B) Treatment of additional programs (i) Consultation The United States appointees to the committees established pursuant to section 213 of the U.S.-FSM Compact and section 214 of the U.S.-RMI Compact shall consult with the Secretary of Education regarding the objectives, use, and monitoring of United States financial, program, and technical assistance made available for educational purposes.
“appropriate committees of Congress” applies in that section
The term “appropriate committees of Congress” means— (A) the Committee on Foreign Relations and the Select Committee on Intelligence of the Senate; (B) the Committee on Foreign Affairs and the Permanent Select Committee on Intelligence of the House of Representatives; and (C) the congressional defense committees. (2) National security council .—
“national security council” applies in that section
The term “national security council” means, with respect to a specified country, an intergovernmental body under the jurisdiction of the freely elected government of the specified country that acts as the primary coordinating entity for security cooperation, disaster response, and the activities described in subsection (c)(5). (3) Specified country .—
“specified country” applies in that section
The term “specified country” means— (A) the Federated States of Micronesia; (B) the Republic of the Marshall Islands; and (C) the Republic of Palau. (c) National security councils of specified countries (1) In general The Secretary of State, in consultation with other relevant Federal departments and agencies, as appropriate, may consult and engage with each specified country to advise and provide assistance to a national security council (including by developing a national security council, if appropriate), or to identify a similar coordinating body for national security matters, comprised of citizens of the specified country— (A) that enables the specified country— (i) to better …
“1986 Compact” applies throughout its subchapter
The term “1986 Compact” means the Compact of Free Association between the Government of the United States and the Governments of the Marshall Islands and the Federated States of Micronesia set forth in section 201 of the Compact of Free Association Act of 1985 ( 48 U.S.C. 1901 note; Public Law 99–239 ). (2) 2003 Amended U.S.-FSM Compact
“2003 Amended U.S.-FSM Compact” applies throughout its subchapter
The term “2003 Amended U.S.-FSM Compact” means the Compact of Free Association amending the 1986 Compact entitled the “Compact of Free Association, as amended, between the Government of the United States of America and the Government of the Federated States of Micronesia” set forth in section 201(a) of the Compact of Free Association Amendments Act of 2003 ( 48 U.S.C. 1921 note; Public Law 108–188 ). (3) 2003 Amended U.S.-RMI Compact
“2003 Amended U.S.-RMI Compact” applies throughout its subchapter
The term “2003 Amended U.S.-RMI Compact” means the Compact of Free Association amending the 1986 Compact entitled “Compact of Free Association, as amended, between the Government of the United States of America and the Government of the Republic of the Marshall Islands” set forth in section 201(b) of the Compact of Free Association Amendments Act of 2003 ( 48 U.S.C. 1921 note; Public Law 108–188 ). (4) 2023 Agreement to Amend the U.S.-FSM Compact
“2023 Agreement to Amend the U.S.-FSM Compact” applies throughout its subchapter
The term “2023 Agreement to Amend the U.S.-FSM Compact” means the Agreement between the Government of the United States of America and the Government of the Federated States of Micronesia to Amend the Compact of Free Association, as Amended, done at Palikir May 23, 2023 . (5) 2023 Agreement to Amend the U.S.-RMI Compact
“2023 Agreement to Amend the U.S.-RMI Compact” applies throughout its subchapter
The term “2023 Agreement to Amend the U.S.-RMI Compact” means the Agreement between the Government of the United States of America and the Government of the Republic of the Marshall Islands to Amend the Compact of Free Association, as Amended, done at Honolulu October 16, 2023 . (6) 2023 Amended U.S.-FSM Compact
“2023 Amended U.S.-FSM Compact” applies throughout its subchapter
The term “2023 Amended U.S.-FSM Compact” means the 2003 Amended U.S.-FSM Compact [ 48 U.S.C. 1921 note], as amended by the 2023 Agreement to Amend the U.S.-FSM Compact. (7) 2023 Amended U.S.-RMI Compact
“2023 Amended U.S.-RMI Compact” applies throughout its subchapter
The term “2023 Amended U.S.-RMI Compact” means the 2003 Amended U.S.-RMI Compact [ 48 U.S.C. 1921 note], as amended by the 2023 Agreement to Amend the U.S.-RMI Compact. (8) 2023 U.S.-FSM Federal Programs and Services Agreement
“2023 U.S.-FSM Federal Programs and Services Agreement” applies throughout its subchapter
The term “2023 U.S.-FSM Federal Programs and Services Agreement” means the 2023 Federal Programs and Services Agreement between the Government of the United States of America and the Government of the Federated States of Micronesia, done at Washington September 28, 2023 . (9) 2023 U.S.-FSM Fiscal Procedures Agreement
“2023 U.S.-FSM Fiscal Procedures Agreement” applies throughout its subchapter
The term “2023 U.S.-FSM Fiscal Procedures Agreement” means the Agreement Concerning Procedures for the Implementation of United States Economic Assistance provided in the 2023 Amended U.S.-FSM Compact between the Government of the United States of America and the Government of the Federated States of Micronesia, done at Palikir May 23, 2023 . (10) 2023 U.S.-FSM Trust Fund Agreement
“2023 U.S.-FSM Trust Fund Agreement” applies throughout its subchapter
The term “2023 U.S.-FSM Trust Fund Agreement” means the Agreement between the Government of the United States of America and the Government of the Federated States of Micronesia Regarding the Compact Trust Fund, done at Palikir May 23, 2023 . (11) 2023 U.S.-Palau Compact Review Agreement
“2023 U.S.-Palau Compact Review Agreement” applies throughout its subchapter
The term “2023 U.S.-Palau Compact Review Agreement” means the Agreement between the Government of the United States of America and the Government of the Republic of Palau Resulting From the 2023 Compact of Free Association Section 432 Review, done at Port Moresby May 22, 2023 . (12) 2023 U.S.-RMI Fiscal Procedures Agreement
“2023 U.S.-RMI Fiscal Procedures Agreement” applies throughout its subchapter
The term “2023 U.S.-RMI Fiscal Procedures Agreement” means the Agreement Concerning Procedures for the Implementation of United States Economic Assistance Provided in the 2023 Amended Compact Between the Government of the United States of America and the Government of the Republic of the Marshall Islands, done at Honolulu October 16, 2023 . (13) 2023 U.S.-RMI Trust Fund Agreement
“2023 U.S.-RMI Trust Fund Agreement” applies throughout its subchapter
The term “2023 U.S.-RMI Trust Fund Agreement” means the Agreement between the Government of the United States of America and the Government of the Republic of the Marshall Islands Regarding the Compact Trust Fund, done at Honolulu October 16, 2023 . (14) Appropriate committees of Congress
“appropriate committees of Congress” applies throughout its subchapter
The term “appropriate committees of Congress” means— (A) the Committee on Energy and Natural Resources of the Senate; (B) the Committee on Foreign Relations of the Senate; (C) the Committee on Natural Resources of the House of Representatives; and (D) the Committee on Foreign Affairs of the House of Representatives. (15) Freely Associated States
“Freely Associated States” applies throughout its subchapter
The term “Freely Associated States” means— (A) the Federated States of Micronesia; (B) the Republic of the Marshall Islands; and (C) the Republic of Palau. (16) Subsidiary agreement
“subsidiary agreement” applies throughout its subchapter
The term “subsidiary agreement” means any of the following: (A) The 2023 U.S.-FSM Federal Programs and Services Agreement. (B) The 2023 U.S.-FSM Fiscal Procedures Agreement. (C) The 2023 U.S.-FSM Trust Fund Agreement. (D) The 2023 U.S.-RMI Fiscal Procedures Agreement. (E) The 2023 U.S.-RMI Trust Fund Agreement. (F) Any Federal Programs and Services Agreement in force between the United States and the Republic of the Marshall Islands. (G) Any Federal Programs and Services Agreement in force between the United States and the Republic of Palau.
“U.S.-Palau Compact” applies throughout its subchapter
The term “U.S.-Palau Compact” means the Compact of Free Association between the United States and the Government of Palau set forth in section 201 of Public Law 99–658 ( 48 U.S.C. 1931 note).
“appropriate committees of Congress” applies in that section
the term “appropriate committees of Congress” means— (aa) the Committee on Energy and Natural Resources, the Committee on Foreign Relations, and the Committee on Veterans’ Affairs of the Senate; and (bb) the Committee on Natural Resources, the Committee on Foreign Affairs, and the Committee on Veterans’ Affairs of the House of Representatives.
“appropriate congressional committees” applies in that section
the term “appropriate congressional committees” means the Committee on Foreign Relations of the Senate and the Committee on Foreign Affairs of the House of Representatives. (2) Requirements The Secretary of State shall— (A) assign additional full-time equivalent personnel to the Office of Australia, New Zealand, and Pacific Island Affairs of the Bureau of East Asian and Pacific Affairs of the Department of State, including to the unit established under subparagraph (B), as the Secretary of State determines to be appropriate, in accordance with paragraph (4)(A); and (B) establish a unit in the Bureau of East Asian and Pacific Affairs of the Department of State to carry out the functions …
“Freely Associated States” applies in that section
the term “Freely Associated States” means— (A) the Federated States of Micronesia, during such time as it is a party to the Compact of Free Association set forth in section 201 of the Compact of Free Association Act of 1985 ( Public Law 99–239 ; 48 U.S.C. 1901 note); (B) the Republic of the Marshall Islands, during such time as it is a party to the Compact of Free Association set forth in section 201 of the Compact of Free Association Act of 1985 ( Public Law 99–239 ; 48 U.S.C.
“agreed accounting standards” applies throughout its chapter
The term “agreed accounting standards” means modified accrual accounting standards or, for any period during which the Oversight Board determines in its sole discretion that a territorial government is not reasonably capable of comprehensive reporting that complies with modified accrual accounting standards, such other accounting standards as proposed by the Oversight Board. (2) Bond
“Bond” applies throughout its chapter
The term “Bond” means a bond, loan, letter of credit, other borrowing title, obligation of insurance, or other financial indebtedness for borrowed money, including rights, entitlements, or obligations whether such rights, entitlements, or obligations arise from contract, statute, or any other source of law, in any case, related to such a bond, loan, letter of credit, other borrowing title, obligation of insurance, or other financial indebtedness in physical or dematerialized form of which the issuer, obligor, or guarantor is the territorial government. (3) Bond Claim
“Bond Claim” applies throughout its chapter
The term “Bond Claim” means, as it relates to a Bond— (A) right to payment, whether or not such right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured; or (B) right to an equitable remedy for breach of performance if such breach gives rise to a right to payment, whether or not such right to an equitable remedy is reduced to judgment, fixed, contingent, matured, unmatured, disputed, undisputed, secured, or unsecured. (4) Budget
“Budget” applies throughout its chapter
The term “Budget” means the Territory Budget or an Instrumentality Budget, as applicable. (5) Puerto Rico
“compliant budget” applies throughout its chapter
The term “compliant budget” means a budget that is prepared in accordance with— (A) agreed accounting standards; and (B) the applicable Fiscal Plan. (7) Covered territorial instrumentality
“covered territorial instrumentality” applies throughout its chapter
The term “covered territorial instrumentality” means a territorial instrumentality designated by the Oversight Board pursuant to section 2121 of this title to be subject to the requirements of this chapter. (8) Covered territory
“covered territory” applies throughout its chapter
The term “covered territory” means a territory for which an Oversight Board has been established under section 2121 of this title . (9) Executive Director
“Executive Director” applies throughout its chapter
The term “Executive Director” means an Executive Director appointed under section 2123(a) of this title . (10) Fiscal Plan
“Fiscal Plan” applies throughout its chapter
The term “Fiscal Plan” means a Territory Fiscal Plan or an Instrumentality Fiscal Plan, as applicable. (11) Government of Puerto Rico
“Government of Puerto Rico” applies throughout its chapter
The term “Government of Puerto Rico” means the Commonwealth of Puerto Rico, including all its territorial instrumentalities. (12) Governor
“Governor” applies throughout its chapter
The term “Governor” means the chief executive of a covered territory. (13) Instrumentality Budget
“Instrumentality Budget” applies throughout its chapter
The term “Instrumentality Budget” means a budget for a covered territorial instrumentality, designated by the Oversight Board in accordance with section 2121 of this title , submitted, approved, and certified in accordance with section 2142 of this title . (14) Instrumentality Fiscal Plan
“Instrumentality Fiscal Plan” applies throughout its chapter
The term “Instrumentality Fiscal Plan” means a fiscal plan for a covered territorial instrumentality, designated by the Oversight Board in accordance with section 2121 of this title , submitted, approved, and certified in accordance with section 2141 of this title . (15) Legislature
“Legislature” applies throughout its chapter
The term “Legislature” means the legislative body responsible for enacting the laws of a covered territory. (16) Modified accrual accounting standards
“modified accrual accounting standards” applies throughout its chapter
The term “modified accrual accounting standards” means recognizing revenues as they become available and measurable and recognizing expenditures when liabilities are incurred, in each case as defined by the Governmental Accounting Standards Board, in accordance with generally accepted accounting principles. (17) Oversight Board
“Oversight Board” applies throughout its chapter
The term “Oversight Board” means a Financial Oversight and Management Board established in accordance with section 2121 of this title . (18) Territorial government
“Puerto Rico” applies throughout its chapter
The term “Puerto Rico” means the Commonwealth of Puerto Rico. (6) Compliant budget
“territorial government” applies throughout its chapter
The term “territorial government” means the government of a covered territory, including all covered territorial instrumentalities. (19) Territorial instrumentality (A) In general
“territorial instrumentality” applies throughout its chapter
The term “territorial instrumentality” means any political subdivision, public agency, instrumentality—including any instrumentality that is also a bank—or public corporation of a territory, and this term should be broadly construed to effectuate the purposes of this chapter. (B) Exclusion The term “territorial instrumentality” does not include an Oversight Board. (20) Territory
“territory” applies throughout its chapter
The term “territory” means— (A) Puerto Rico; (B) Guam; (C) American Samoa; (D) the Commonwealth of the Northern Mariana Islands; or (E) the United States Virgin Islands. (21) Territory Budget
“Territory Budget” applies throughout its chapter
The term “Territory Budget” means a budget for a territorial government submitted, approved, and certified in accordance with section 2142 of this title . (22) Territory Fiscal Plan
“Territory Fiscal Plan” applies throughout its chapter
The term “Territory Fiscal Plan” means a fiscal plan for a territorial government submitted, approved, and certified in accordance with section 2141 of this title .
“affiliate” applies throughout its subchapter
The term “affiliate” means, in addition to the definition made applicable in a case under this subchapter by subsection (a)— (A) for a territory, any territorial instrumentality; and (B) for a territorial instrumentality, the governing territory and any of the other territorial instrumentalities of the territory. (2) Debtor
“debtor” applies throughout its subchapter
The term “debtor” means the territory or covered territorial instrumentality concerning which a case under this subchapter has been commenced. (3) Holder of a claim or interest The term “holder of a claim or interest”, when used in section 1126 of title 11 , made applicable in a case under this subchapter by subsection (a)— (A) shall exclude any Issuer or Authorized Instrumentality of the Territory Government Issuer (as defined under subchapter VI of this chapter) or a corporation, trust or other legal entity that is controlled by the Issuer or an Authorized Territorial Instrumentality of the Territory Government Issuer, provided that the beneficiaries of such claims, to the extent they are …
“Insured Bond” applies throughout its subchapter
The term “Insured Bond” means a bond subject to a financial guarantee or similar insurance contract, policy and/or surety issued by a monoline insurer. (5) Property of the estate The term “property of the estate”, when used in a section of title 11 made applicable in a case under this subchapter by subsection (a), means property of the debtor. (6) State The term “State” 1 when used in a section of title 11 made applicable in a case under this subchapter by subsection (a) 1 means State or territory when used in reference to the relationship of a State to the municipality of the State or the territorial instrumentality of a territory, as applicable.
“List of Material Interested Parties” applies in that section
The term “List of Material Interested Parties” means the List of Material Interested Parties established under subsection (c)(1). (2) Oversight Board
“Oversight Board” applies in that section
The term “Oversight Board” has the meaning given the term in section 2104 of this title . (b) Required disclosure (1) In general In a case commenced under section 2164 of this title , no attorney, accountant, appraiser, auctioneer, agent, or other professional person may be compensated under section 2176 or 2177 of this title unless prior to making a request for compensation, the professional person has filed with the court a verified statement conforming to the disclosure requirements of rule 2014(a) of the Federal Rules of Bankruptcy Procedure setting forth the connection of the professional person with any entity or person on the List of Material Interested Parties.
“Liability” applies in that section
The term “Liability” means a bond, loan, letter of credit, other borrowing title, obligation of insurance, or other financial indebtedness for borrowed money, including rights, entitlements, or obligations whether such rights, entitlements, or obligations arise from contract, statute, or any other source of law related to such a bond, loan, letter of credit, other borrowing title, obligation of insurance, or other financial indebtedness in physical or dematerialized form, of which— (A) the issuer, obligor, or guarantor is the Government of Puerto Rico; and (B) the date of issuance or incurrence precedes June 30, 2016 . (2) Liability Claim
“Liability Claim” applies in that section
The term “Liability Claim” means, as it relates to a Liability— (A) right to payment, whether or not such right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured; or (B) right to an equitable remedy for breach of performance if such breach gives rise to a right to payment, whether or not such right to an equitable remedy is reduced to judgment, fixed, contingent, matured, unmatured, disputed, undisputed, secured, or unsecured.
“Act 76” applies throughout its subchapter
The term “Act 76” means Puerto Rico Act 76–2000 (3 L.P.R.A. 1931 et seq.), approved on May 5, 2000 , as amended. (2) Critical Project
“Critical Project” applies throughout its subchapter
The term “Critical Project” means a project identified under the provisions of this subchapter and intimately related to addressing an emergency whose approval, consideration, permitting, and implementation shall be expedited and streamlined according to the statutory process provided by Act 76, or otherwise adopted pursuant to this subchapter. (3) Energy Commission of Puerto Rico
“emergency” applies throughout its subchapter
The term “emergency” means any event or grave problem of deterioration in the physical infrastructure for the rendering of essential services to the people, or that endangers the life, public health, or safety of the population or of a sensitive ecosystem, or as otherwise defined by section 1 of Act 76 (3 L.P.R.A. 1931). This shall include problems in the physical infrastructure for energy, water, sewer, solid waste, highways or roads, ports, telecommunications, and other similar infrastructure. (6) Environmental Quality Board
“Energy Commission of Puerto Rico” applies throughout its subchapter
The term “Energy Commission of Puerto Rico” means the Puerto Rico Energy Commission as established by Subtitle B of Puerto Rico Act 57–2014. (4) Energy Projects
“Energy Projects” applies throughout its subchapter
The term “Energy Projects” means those projects addressing the generation, distribution, or transmission of energy. (5) Emergency
“Environmental Quality Board” applies throughout its subchapter
The term “Environmental Quality Board” means the Puerto Rico Environmental Quality Board, a board within the executive branch of the Government of Puerto Rico as established by section 7 of Puerto Rico Act 416–2004 (12 L.P.R.A. 8002a). (7) Expedited Permitting Process
“Expedited Permitting Process” applies throughout its subchapter
The term “Expedited Permitting Process” means a Puerto Rico Agency’s alternate procedures, conditions, and terms mirroring those established under Act 76 (3 L.P.R.A. 1932) and pursuant to this subchapter shall not apply to any Federal law, statute, or requirement. (8) Governor
“Governor” applies throughout its subchapter
The term “Governor” means the Governor of Puerto Rico. (9) Interagency Environmental Subcommittee
“Interagency Environmental Subcommittee” applies throughout its subchapter
The term “Interagency Environmental Subcommittee” means the Interagency Subcommittee on Expedited Environmental Regulations as further described by section 2214 of this title . (10) Legislature
“Legislature” applies throughout its subchapter
The term “Legislature” means the Legislature of Puerto Rico. (11) Planning Board
“Planning Board” applies throughout its subchapter
The term “Planning Board” means the Puerto Rico Planning Board, a board within the executive branch of the Government of Puerto Rico established by Puerto Rico Act 75–1975 (23 L.P.R.A. 62 et seq.). (12) Project Sponsor
“Project Sponsor” applies throughout its subchapter
The term “Project Sponsor” means a Puerto Rico Agency or private party proposing the development of an existing, ongoing, or new infrastructure project or Energy Project. (13) Puerto Rico Agency or Agencies
“Puerto Rico Agencies” applies throughout its subchapter
The terms “Puerto Rico Agency” or “Puerto Rico Agencies” means any board, body, board of examiners, public corporation, commission, independent office, division, administration, bureau, department, authority, official, person, entity, municipality, or any instrumentality of Puerto Rico, or an administrative body authorized by law to perform duties of regulating, investigating, or that may issue a decision, or with the power to issue licenses, certificates, permits, concessions, accreditations, privileges, franchises, except the Senate and the House of Representatives of the Legislature and the judicial branch. (14) Puerto Rico Electric Power Authority
“Puerto Rico Agency” applies throughout its subchapter
The terms “Puerto Rico Agency” or “Puerto Rico Agencies” means any board, body, board of examiners, public corporation, commission, independent office, division, administration, bureau, department, authority, official, person, entity, municipality, or any instrumentality of Puerto Rico, or an administrative body authorized by law to perform duties of regulating, investigating, or that may issue a decision, or with the power to issue licenses, certificates, permits, concessions, accreditations, privileges, franchises, except the Senate and the House of Representatives of the Legislature and the judicial branch. (14) Puerto Rico Electric Power Authority
“Puerto Rico Electric Power Authority” applies throughout its subchapter
The term “Puerto Rico Electric Power Authority” means the Puerto Rico Electric Power Authority established by Puerto Rico Act 83–1941.
“Administrative Supervisor” applies throughout its subchapter
The term “Administrative Supervisor” means the Oversight Board established under section 2121 of this title . (2) Authorized Territorial Instrumentality
“Authorized Territorial Instrumentality” applies throughout its subchapter
The term “Authorized Territorial Instrumentality” means a covered territorial instrumentality authorized in accordance with subsection (e). (3) Calculation Agent
“Calculation Agent” applies throughout its subchapter
The term “Calculation Agent” means a calculation agent appointed in accordance with subsection (k). (4) Capital Appreciation Bond
“Capital Appreciation Bond” applies throughout its subchapter
The term “Capital Appreciation Bond” means a Bond that does not pay interest on a current basis, but for which interest amounts are added to principal over time as specified in the relevant offering materials for such Bond, including that the accreted interest amount added to principal increases daily. (5) Convertible Capital Appreciation Bond
“Convertible Capital Appreciation Bond” applies throughout its subchapter
The term “Convertible Capital Appreciation Bond” means a Bond that does not pay interest on a current basis, but for which interest amounts are added to principal over time as specified in the relevant offering materials and which converts to a current pay bond on a future date. (6) Information Agent
“Information Agent” applies throughout its subchapter
The term “Information Agent” means an information agent appointed in accordance with subsection ( l ). (7) Insured Bond
“Insured Bond” applies throughout its subchapter
The term “Insured Bond” means a bond subject to a financial guarantee or similar insurance contract, policy or surety issued by a monoline insurer. (8) Issuer
“Issuer” applies throughout its subchapter
The term “Issuer” means, as applicable, the Territory Government Issuer or an Authorized Territorial Instrumentality that has issued or guaranteed at least one Bond that is Outstanding. (9) Modification
“Modification” applies throughout its subchapter
The term “Modification” means any modification, amendment, supplement or waiver affecting one or more series of Bonds, including those effected by way of exchange, repurchase, conversion, or substitution. (10) Outstanding The term “Outstanding,” in the context of the principal amount of Bonds, shall be determined in accordance with subsection (b). (11) Outstanding Principal
“Outstanding Principal” applies throughout its subchapter
The term “Outstanding Principal” means— (A) for a Bond that is not a Capital Appreciation Bond or a Convertible Capital Appreciation Bond, the outstanding principal amount of such Bond; and (B) for a Bond that is a Capital Appreciation Bond or a Convertible Capital Appreciation Bond, the current accreted value of such Capital Appreciation Bond or a Convertible Capital Appreciation Bond, as applicable. (12) Pool
“Pool” applies throughout its subchapter
The term “Pool” means a pool established in accordance with subsection (d). (13) Qualifying Modification
“Qualifying Modification” applies throughout its subchapter
The term “Qualifying Modification” means a Modification proposed in accordance with subsection (g). (14) Secured Pool
“Secured Pool” applies throughout its subchapter
The term “Secured Pool” means a Pool established in accordance with subsection (d) consisting only of Bonds that are secured by a lien on property, provided that the inclusion of a Bond Claim in such Pool shall not in any way limit or prejudice the right of the Issuer, the Administrative Supervisor, or any creditor to recharacterize or challenge such Bond Claim, or any purported lien securing such Bond Claim, in any other manner in any subsequent proceeding in the event a proposed Qualifying Modification is not consummated. (15) Territory Government Issuer
“Territory Government Issuer” applies throughout its subchapter
The term “Territory Government Issuer” means the Government of Puerto Rico or such covered territory for which an Oversight Board has been established pursuant to section 2121 of this title . (b) Outstanding Bonds In determining whether holders of the requisite principal amount of Outstanding Bonds have voted in favor of, or consented to, a proposed Qualifying Modification, a Bond will be deemed not to be outstanding, and may not be counted in a vote or consent solicitation for or against a proposed Qualifying Modification, if on the record date for the proposed Qualifying Modification— (1) the Bond has previously been cancelled or delivered for cancellation or is held for reissuance but …