Puerto Rican People’s Power Restoration Act of 2026

This legislation, titled the "Puerto Rican People's Power Restoration Act of 2026," proposes significant amendments to the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA). Its primary purpose is to establish a mechanism for the termination of the Oversight Board . Specifically, the Board would cease to exist the day after the Commonwealth of Puerto Rico enacts legislation that designates or establishes a successor entity to assume its responsibilities. Furthermore, the bill modifies PROMESA to allow the Puerto Rico Electric Power Authority (PREPA) , its governing board, or another successor entity, as specified in local legislation, to become the representative of the debtor in bankruptcy cases initiated on or after the date of such legislation. It also stipulates that professionals and advisors engaged by the Oversight Board would generally be retained by the substituted representative. The bill clarifies that these amendments do not alter requirements for plan confirmation, invalidate existing fiscal plans or budgets until modified, or affect the jurisdiction of the U.S. District Court for the District of Puerto Rico.