As Puerto Rico teeters on the brink of default, House Republicans said they will make legislation public this week that would leave the fate of the island's territory chartered and supervised cooperativas up to an independent oversight board.
The legislation, which will be unveiled by House Natural Resources Chairman Rob Bishop (R-Utah), would not directly address the issue of the island's cooperativas, a committee aide confirmed Monday.
Instead, the cooperativas would be handled as part of an overall plan developed by the oversight committee.
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