TRIA Reauthorization Act of 2013

Bill: 113-hr-508
Sponsor: full_name: Rep. Grimm, Michael G. [R-NY-11]
Introduced: 2013-02-05
Policy area: Finance and Financial Sector
Subjects: Disaster relief and insurance

Insurance industry and regulation

Life, casualty, property insurance

Terrorism
Latest action: action_date: 2013-02-05
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2013-02-05
action_desc: Introduced in House
text: <p>Terrorism Risk Insurance Act of 2002 Reauthorization Act of 2013 or the TRIA Reauthorization Act of 2013 - Amends the Terrorism Risk Insurance Act of 2002 to extend the Terrorism Insurance Program until December 31, 2019 (under current law the Program expires on December 31, 2014).</p> <p>Requires the Secretary of the Treasury to collect all required terrorism loss risk-spreading premiums for any act of terrorism that occurs on or after January 1, 2012, by September 30, 2024 (currently, by September 30, 2017).</p>

tv_txt: I 113th CONGRESS 1st Session H. R. 508 IN THE HOUSE OF REPRESENTATIVES February 5, 2013 Mr. Grimm (for himself, Mrs. Carolyn B. Maloney of New York , Mr. Sessions , Mr. Carson of Indiana , Mr. King of New York , Mr. Meeks , Mr. Ross , Mr. Bishop of New York , Mr. Duffy , and Mrs. McCarthy of New York ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To extend the Terrorism Risk Insurance Program for five years.

1. Short title This Act may be cited as the Terrorism Risk Insurance Act of 2002 Reauthorization Act of 2013 or the TRIA Reauthorization Act of 2013 . 2. Five-year extension of Terrorism Risk Insurance Program (a) Program years Section 102(11)(G) of the Terrorism Risk Insurance Act of 2002 ( 15 U.S.C. 6701 note) is amended by striking 2014 and inserting 2019 . (b) Timing of mandatory recoupment Section 103(e)(7)(E)(i)(III) of such Act is amended by striking 2017 and inserting 2024 . (c) Termination date Section 108(a) of such Act is amended by striking 2014 and inserting 2019 .