Approval; effective date

Any reform, including a new compact agreement, or a set of reforms between the Federal Government and the Commonwealth government proposed by the United States-Puerto Rico Commonwealth Development Commission under section 201 shall take effect on the date of approval of the proposed reform— (1) in a ratification vote by eligible voters in a special election that is held— (A) not later than 180 days after the date on which the United States-Puerto Rico Commonwealth Development Commission releases the proposed reform; and (B) in accordance with procedures developed by the Legislative Assembly; and (2) by the Federal Government, in accordance with applicable Federal law and the Constitution.