(a) In general
Except as provided in subsection (b), this chapter shall take effect on June 30, 2016.
(b) Subchapter III and Subchapter VI
(1) Subchapter III shall apply with respect to cases commenced under subchapter III on or after June 30, 2016.
(2) Subchapters III and VI shall apply with respect to debts, claims, and liens (as such terms are defined in section 101 of title 11) created before, on, or after such date.
References in Text
This chapter, referred to in subsec. (a), was in the original "this Act", meaning Pub. L. 114–187, June 30, 2016, 130 Stat. 549, known as the Puerto Rico Oversight, Management, and Economic Stability Act and also as PROMESA, which is classified principally to this chapter. For complete classification of this Act to the Code, see Short Title note set out below and Tables.
Short Title
Pub. L. 114–187, §1(a), June 30, 2016, 130 Stat. 549, provided that: "This Act [enacting this chapter, amending sections 1469e and 1492a of this title, sections 632 and 644 of Title 15, Commerce and Trade, and section 206 of Title 29, Labor, and enacting provisions set out as a note under section 632 of Title 15] may be cited as the 'Puerto Rico Oversight, Management, and Economic Stability Act' or 'PROMESA'."
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