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H.R. 2761: Terrorism Risk Insurance Program Reauthorization Act of 2007

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H.R. 2761: Terrorism Risk Insurance Program Reauthorization Act of 2007

110th Congress · introduced 2007-06-18 · Finance and Financial Sector · Latest: Became Public Law No: 110-160.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2007-06-18 · official record
  2. Who proposed it: Rep. Capuano, Michael E. [D-MA-8] · what a sponsor is
  3. What happened next: 5 recorded votes in our records. Latest: House roll call 1178 (2007): Suspend the Rules and Agree to the Senate amendment, HR2761 (2007-12-18), Passed. See all
  4. Where it stands now: Became Public Law No: 110-160. (final step reached)
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Terrorism Risk Insurance Program Reauthorization Act of 2007

Plain summary

(This measure has not been amended since it was passed by the Senate on November 16, 2007. The summary of that version is repeated here.) Terrorism Risk Insurance Program Reauthorization Act of 2007 - (Sec. 2) 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. (Sec. 3) Extends the Terrorism Risk Insurance Program through calendar 2014. (Sec. 4) 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 surcharge imposed to recoup federal financial assistance provided in connection with all acts of terrorism (or acts of war) during a Terrorism Insurance Program Year. Requires a terrorism loss risk-spreading premium in an amount equal to 133% (currently, 100%) of any mandatory recoupment amount for such period. Establishes deadlines for the collection of terrorism loss risk-spreading premiums for acts of terrorism occurring during specified periods. (Sec. 5) Directs the Comptroller General to study and report to certain congressional committees regarding: (1) the availability and affordability of insurance coverage for losses caused by terrorist attacks involving nuclear, biological, chemical, or radiological materials; (2) the outlook for such coverage in the future; and (3) the capacity of private insurers and state workers compensation funds to manage risk associated with such events. Directs the Comptroller General to study and report to certain congressional committees on whether there are specific markets in the United States with unique capacity constraints on the amount of terrorism risk insurance available.

Congressional Research Service summary (Public Law), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

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PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Terrorism Risk Insurance Program Reauthorization Act of 2007

Source: Congressional Research Service summary (Public Law)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Capuano, Michael E. [D-MA-8] · 31 cosponsors

Cost estimate: CBO cost estimate: H.R. 2761, Terrorism Risk Insurance Revision and Extension Act of 2007 (2007-09-06); CBO cost estimate: H.R. 2761, Terrorism Risk Insurance Revision and Extension Act of 2007 (2007-09-06); CBO cost estimate: H.R. 2761, Terrorism Risk Insurance Program Reauthorization Act (2008-01-22); CBO cost estimate: H.R. 2761, Terrorism Risk Insurance Program Reauthorization Act (2008-01-22)

Cosponsors on this site

Gregory W. Meeks (D-NY), Brad Sherman (D-CA), Stephen F. Lynch (D-MA), Al Green (D-TX), Emanuel Cleaver (D-MO), Christopher Murphy (D-CT), Joe Courtney (D-CT)

Recorded votes

Words on this page, explained (2)
Rulemaking
The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.
Statute
A written law passed by a legislature. A statute can be changed by a later law; changing a constitution needs an amendment.

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong110-hr2761 · catalog fed-us-congress-bills-cong110 · updated 2026-11-15 by psicol fed-bills-cong110