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(A) in subparagraph (C), by inserting ‘‘133
percent of’’ before ‘‘any mandatory recoupment’’;
and
(B) by adding at the end the following:
‘‘(E) 
TIMING
OF
MANDATORY
RECOUPMENT.—
‘‘(i) IN GENERAL.—If the Secretary is
required to collect terrorism loss risk-
spreading premiums under subparagraph
(C)—
‘‘(I) for any act of terrorism that
occurs on or before December 31, 2010,
the Secretary shall collect all required
premiums by September 30, 2012;
‘‘(II) for any act of terrorism that
occurs between January 1 and Decem-
ber 31, 2011, the Secretary shall collect
35 percent of any required premiums
by September 30, 2012, and the re-
mainder by September 30, 2017; and
‘‘(III) for any act of terrorism
that occurs on or after January 1,
2012, the Secretary shall collect all re-
quired premiums by September 30,
2017.
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‘‘(ii) REGULATIONS
REQUIRED.—Not
later than 180 days after the date of enact-
ment of this subparagraph, the Secretary
shall issue regulations describing the proce-
dures to be used for collecting the required
premiums in the time periods referred to in
clause (i).
‘‘(F) NOTICE OF ESTIMATED LOSSES.—Not
later than 90 days after the date of an act of ter-
rorism, the Secretary shall publish an estimate
of aggregate insured losses, which shall be used
as the basis for determining whether mandatory
recoupment will be required under this para-
graph. Such estimate shall be updated as appro-
priate, and at least annually.’’; and
(2) in paragraph (8)—
(A) in subparagraph (C)—
(i) by striking ‘‘(including any addi-
tional amount included in such premium’’
and inserting ‘‘collected’’; and
(ii) by striking ‘‘(D))’’ and inserting
‘‘(D)’’; and
(B) in subparagraph (D)(ii), by inserting
before the period at the end ‘‘, in accordance
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with the timing requirements of paragraph
(7)(E)’’.
SEC. 5. ENHANCED REPORTS TO CONGRESS.
(a) STUDY
AND REPORT
ON INSURANCE
FOR NU-
CLEAR, BIOLOGICAL, CHEMICAL, AND RADIOLOGICAL TER-
RORIST EVENTS.—Section 108 of the Terrorism Risk Insur-
ance Act of 2002 (15 U.S.C. 6701 note) is amended by add-
ing at the end the following:
‘‘(f) INSURANCE FOR NUCLEAR, BIOLOGICAL, CHEM-
ICAL, AND RADIOLOGICAL TERRORIST EVENTS.—
‘‘(1) STUDY.—The Comptroller General of the
United States shall examine—
‘‘(A) the availability and affordability of
insurance coverage for losses caused by terrorist
attacks involving nuclear, biological, chemical, or
radiological materials;
‘‘(B) the outlook for such coverage in the fu-
ture; and
‘‘(C) the capacity of private insurers and
State workers compensation funds to manage
risk associated with nuclear, biological, chemical,
and radiological terrorist events.
‘‘(2) REPORT.—Not later than 1 year after the
date of enactment of the Terrorism Risk Insurance
Program Reauthorization Act of 2007, the Comp-
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troller General shall submit to the Committee on
Banking, Housing, and Urban Affairs of the Senate
and the Committee on Financial Services of the
House of Representatives a report containing a de-
tailed statement of the findings under paragraph (1),
and recommendations for any legislative, regulatory,
administrative, or other actions at the Federal, State,
or local levels that the Comptroller General considers
appropriate to expand the availability and afford-
ability of insurance for nuclear, biological, chemical,
or radiological terrorist events.’’.
(b) STUDY AND REPORT ON AVAILABILITY AND AF-
FORDABILITY
OF TERRORISM INSURANCE
IN SPECIFIC
MARKETS.—Section 108 of the Terrorism Risk Insurance
Act of 2002 (15 U.S.C. 6701 note) is amended by adding
at the end the following:
‘‘(g) AVAILABILITY
AND AFFORDABILITY
OF TER-
RORISM INSURANCE IN SPECIFIC MARKETS.—
‘‘(1) STUDY.—The Comptroller General of the
United States shall conduct a study to determine
whether there are specific markets in the United
States where there are unique capacity constraints on
the amount of terrorism risk insurance available.
‘‘(2) ELEMENTS OF STUDY.—The study required
by paragraph (1) shall contain—
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‘‘(A) an analysis of both insurance and re-
insurance capacity in specific markets, including
pricing and coverage limits in existing policies;
‘‘(B) an assessment of the factors contrib-
uting to any capacity constraints that are iden-
tified; and
‘‘(C) recommendations for addressing those
capacity constraints.
‘‘(3) REPORT.—Not later than 180 days after the
date of enactment of the Terrorism Risk Insurance
Program Reauthorization Act of 2007, the Comp-
troller General shall submit a report on the study re-
quired by paragraph (1) to the Committee on Bank-
ing, Housing, and Urban Affairs of the Senate and
the Committee on Financial Services of the House of
Representatives.’’.
(c) ONGOING REPORTS.—Section 108(e) of the Ter-
rorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note)
is amended—
(1) in paragraph (1)—
(A) by inserting ‘‘ongoing’’ before ‘‘anal-
ysis’’; and
(B) by striking ‘‘, including’’ and all that
follows through the end of the paragraph, and
inserting a period; and
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(2) in paragraph (2)—
(A) by inserting ‘‘and thereafter in 2010
and 2013,’’ after ‘‘2006,’’; and
(B) by striking ‘‘subsection (a)’’ and insert-
ing ‘‘paragraph (1)’’.
Attest:
Secretary.