CART Act

Summary

Catastrophic Risk Transfer Act of 2021 or the CART Act This bill establishes a system for the taxation of catastrophic risk transfer companies and their security holders to ensure sufficient capital to cover catastrophic insurance losses. The bill defines catastrophic risk as a risk of loss that has a low likelihood of occurring but that would be large in amount. The bill defines catastrophic risk transfer company as any domestic corporation created and regulated under state law with the purpose of entering into one or more insurance or reinsurance agreements covering catastrophic risk.

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

Timeline

1. 26 October 2021

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 26 October 2021

   Introduced

   Introduced in House

   Source: IntroReferral

3. 26 October 2021

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 26 October 2021 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 26 October 2021

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 26 October 2021

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 26 October 2021

  Open at official source

Sponsors

• James Himes · D · Sponsor
• Stephanie Murphy · D · Sponsor
• Blaine Luetkemeyer · R · Sponsor
• Darin LaHood · R · Sponsor
• Rep. Panetta, Jimmy [D-CA-19] · D · Cosponsor
• · hsju00 · Standing
• · hswm00 · Standing

Related records

No cross-record relationships stored yet.