48 USC 2198 – Report on territorial debt
(a) Report required
Not later than one year after June 30, 2016, and thereafter not less than once every two years, the Comptroller General of the United States shall submit to Congress a report on the public debt of each territory, including—
(1) the historical levels of each territory’s public debt, current amount and composition of each territory’s public debt, and future projections of each territory’s public debt;
(2) the historical levels of each territory’s revenue, current amount and composition of each territory’s revenue, and future projections of each territory’s revenue;
(3) the drivers and composition of each territory’s public debt;
(4) the effect of Federal laws, mandates, rules, and regulations on each territory’s public debt; and
(5) the ability of each territory to repay it’s 1 public debt.
(b) Materials
Terms Used In 48 USC 2198
- Public debt: Cumulative amounts borrowed by the Treasury Department or the Federal Financing Bank from the public or from another fund or account. The public debt does not include agency debt (amounts borrowed by other agencies of the Federal Government). The total public debt is subject to a statutory limit.
The government of each territory shall make available to the Comptroller General of the United States all materials necessary to carry out this section.