48 U.S.C. § 2104

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.

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.

The term “Budget” means the Territory Budget or an Instrumentality Budget, as applicable.

The term “Puerto Rico” means the Commonwealth of Puerto Rico.

section 2121 of this titleThe term “covered territorial instrumentality” means a territorial instrumentality designated by the Oversight Board pursuant to to be subject to the requirements of this chapter.

section 2121 of this titleThe term “covered territory” means a territory for which an Oversight Board has been established under .

section 2123(a) of this titleThe term “Executive Director” means an Executive Director appointed under .

The term “Fiscal Plan” means a Territory Fiscal Plan or an Instrumentality Fiscal Plan, as applicable.

The term “Government of Puerto Rico” means the Commonwealth of Puerto Rico, including all its territorial instrumentalities.

The term “Governor” means the chief executive of a covered territory.

section 2121 of this titlesection 2142 of this titleThe term “Instrumentality Budget” means a budget for a covered territorial instrumentality, designated by the Oversight Board in accordance with , submitted, approved, and certified in accordance with .

section 2121 of this titlesection 2141 of this titleThe term “Instrumentality Fiscal Plan” means a fiscal plan for a covered territorial instrumentality, designated by the Oversight Board in accordance with , submitted, approved, and certified in accordance with .

The term “Legislature” means the legislative body responsible for enacting the laws of a covered territory.

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.

section 2121 of this titleThe term “Oversight Board” means a Financial Oversight and Management Board established in accordance with .

The term “territorial government” means the government of a covered territory, including all covered territorial instrumentalities.

section 2142 of this titleThe term “Territory Budget” means a budget for a territorial government submitted, approved, and certified in accordance with .

section 2141 of this titleThe term “Territory Fiscal Plan” means a fiscal plan for a territorial government submitted, approved, and certified in accordance with .