FL S0798

Urges Congress to allow Puerto Rico to authorize its municipalities and public utilities to file for bankruptcy relief under Chapter 9 of the United States Bankruptcy Code, reversing the 1984 amendments that currently prohibit such filings.

Requests Congress permit Puerto Rico to propose a comprehensive debt repayment plan for municipal and public utility debts under Chapter 9, rather than requiring piecemeal negotiations with individual creditors.

Calls on Congress to discontinue the proposed 11-percent reduction in Puerto Rico's Medicare Advantage program reimbursements for 2016.

Urges Congress to establish programs promoting economic development, manufacturing, trade, and employment opportunities in Puerto Rico.

Directs the Legislature to send copies of this memorial to the President, Senate President, House Speaker, and all members of the Florida congressional delegation.