Terrorism Risk Insurance Program Reauthorization Act of 2013

Bill: 113-hr-2146
Sponsor: full_name: Rep. Capuano, Michael E. [D-MA-7]
Introduced: 2013-05-23
Policy area: Finance and Financial Sector
Subjects: Congressional oversight

Disaster relief and insurance

Insurance industry and regulation

Life, casualty, property insurance

Terrorism
Latest action: action_date: 2013-05-23
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2013-05-23
action_desc: Introduced in House
text: <p>Terrorism Risk Insurance Program Reauthorization Act of 2013 - Amends the Terrorism Risk Insurance Act of 2002 to extend from December 31, 2014, through December 31, 2024, the Terrorism Risk Insurance program.</p> <p>Extends to September 30, 2027, the deadline by which the Secretary of the Treasury is required to collect all mandatory premiums for any act of terrorism occurring on or after January 1, 2012.</p> <p>Requires reports in 2017, 2020, and 2023 on the findings of the President's Working Group on Financial Markets pursuant to an ongoing analysis regarding the long-term availability and affordability of (market conditions for) terrorism risk insurance.</p>

tv_txt: I 113th CONGRESS 1st Session H. R. 2146 IN THE HOUSE OF REPRESENTATIVES May 23, 2013 Mr. Capuano (for himself, Mr. King of New York , Ms. Moore , Mrs. McCarthy of New York , Mrs. Beatty , Ms. Sinema , Mr. Meeks , Ms. Waters , Mr. McGovern , Mr. Heck of Washington , Mr. Kennedy , Mr. Markey , Mr. Watt , Mr. Hinojosa , Mr. Rangel , Mr. Nadler , Mr. Keating , Mr. Clay , Mr. Carson of Indiana , Mr. Lynch , and Ms. Meng ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To extend the Terrorism Risk Insurance Program of the Department of the Treasury for 10 years.

1. Short title This Act may be cited as the Terrorism Risk Insurance Program Reauthorization Act of 2013 . 2. 10-year extension of Terrorism Risk Insurance Program (a) Termination date Section 108(a) of the Terrorism Risk Insurance Act of 2002 ( 15 U.S.C. 6701 note) is amended by striking 2014 and inserting 2024 . (b) Additional 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 2024 . (c) Timing of mandatory recoupment Section 103(e)(7)(E)(i)(III) of the Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note) is amended by striking 2017 and inserting 2027 . (d) Ongoing reports regarding market conditions for terrorism risk insurance Section 108(e)(2) of the Terrorism Risk Insurance Act of 2002 ( 15 U.S.C. 6701 note) is amended by striking and 2013 and inserting , 2013, 2017, 2020, and 2023 .