Terrorism Risk Insurance Program Reauthorization Act of 2007 (H.R. 4299 (110th)) — United States

Summary

Terrorism Risk Insurance Program Reauthorization Act of 2007 - Amends the Terrorism Risk Insurance Act to redefine an act of terrorism to eliminate the requirement that the individual or individuals committing a terrorist act be acting on behalf of any foreign person or foreign interest. Extends the Terrorism Risk Insurance Program through calendar 2014. States that no insurer may be required to make payment for insured losses in excess of its statutory deductible combined with its statutory share of insured losses. Requires the Secretary of the Treasury to: (1) notify Congress within 15 days of an act of terrorism on whether the Secretary estimates that aggregate insured losses will exceed $100 billion; (2) promulgate final regulations for determining the pro rata share of insured losses which exceed $100 billion; and (3) report to Congress on the process used to determine the allocation of pro rata payments when insured losses exceed $100 billion. Requires insurers to disclose to policyholders the $100 billion cap on their liability. Modifies the federal surcharges imposed to recoup the mandatory recoupment amount. Establishes a timeline for the collection of terrorism loss risk-spreading premiums. Directs the Comptroller General to study and report to certain congressional committees regarding the availability and affordability of: (1) insurance coverage for losses caused by terrorist attacks involving nuclear, biological, chemical, or radiological terrorist events; and (2) terrorism insurance in specific markets. Modifies the Act to include group life insurance coverage. Limits the federal share of such compensation. Provides for increased insurer deductibles based on the value of an insurer's direct earned premiums if aggregate industry insured losses resulting from a certified act of terrorism exceed $100 billion. Requires providers of life insurance to make such insurance available without regard to lawful foreign travel. Reduces from $100 million to $50 million the aggregated industry insured losses that will trigger federal compensation paid for Program Year 5.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

6 December 2007
Introduced
Referred to the House Committee on Financial Services.
Source: IntroReferral
6 December 2007
Introduced
Introduced in House
Source: IntroReferral
6 December 2007
Introduced
Introduced in House
Source: IntroReferral
11 December 2007
Reported
Rules Committee Resolution H. Res. 862 Reported to House. Rule provides for consideration of H.R. 4299 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions.
Source: Floor
12 December 2007
Vote
On passage Passed by recorded vote: 303 - 116 (Roll no. 1150). (text: CR H15354-15356)
Source: Floor
12 December 2007
Passed
Motion to reconsider laid on the table Agreed to without objection.
Source: Floor
12 December 2007
Vote
Passed/agreed to in House: On passage Passed by recorded vote: 303 - 116 (Roll no. 1150).(text: CR H15354-15356)
Source: Floor
12 December 2007
Vote
On motion to recommit with instructions Failed by the Yeas and Nays: 173 - 246 (Roll no. 1149).
Source: Floor
12 December 2007
Floor
The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H15366)
Source: Floor
12 December 2007
Floor
Rule provides for consideration of H.R. 4299 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions.
Source: Floor
12 December 2007
Floor
Mr. Bachus moved to recommit with instructions to Financial Services. (consideration: H15365-15367; text: CR H15365)
Source: Floor
12 December 2007
Floor
The previous question was ordered without objection. (consideration: CR H15365)
Source: Floor
12 December 2007
Floor
Considered under the provisions of rule H. Res. 862. (consideration: CR H15354-15368)
Source: Floor
12 December 2007
Passed
Rule H. Res. 862 passed House.
Source: Floor
12 December 2007
Introduced
Received in the Senate.
Source: IntroReferral
13 December 2007
Introduced
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Referred in Senate · 13 December 2007 · Download file
Engrossed in House · 12 December 2007 · Download file
Introduced in House · 6 December 2007 · Download file

Documents

8 official files

Referred in Senate (text)

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Referred in Senate (text)
Referred in Senate · EN · 13 December 2007
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Referred in Senate (PDF)
Referred in Senate · EN · 13 December 2007
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Engrossed in House (text)
Engrossed in House · EN · 12 December 2007
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Engrossed in House (PDF)
Engrossed in House · EN · 12 December 2007
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Passed House without amendment
summary · EN · 12 December 2007
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Introduced in House (text)
Introduced in House · EN · 6 December 2007
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Introduced in House (PDF)
Introduced in House · EN · 6 December 2007
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Introduced in House
summary · EN · 6 December 2007
Open at official source
Leesvertaling
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Related records

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/110th-congress/house-bill/4299
Open data entity: https://api.congress.gov/v3/bill/110/hr/4299
us · 110-hr-4299 · source updated 7 April 2025

Terrorism Risk Insurance Program Reauthorization Act of 2007