Terrorism Risk Insurance Revision and Extension Act Moves Forward to Full Committee
|July 25, 2007|
Washington, DC - Congressman Paul E. Kanjorski (PA-11), Chairman of the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, today expressed satisfaction that the Subcommittee passed H.R. 2761, the Terrorism Risk Insurance Revision and Extension Act of 2007, by a vote of 26-17. H.R. 2761, as reported, extends TRIA for 10 years, eliminates the distinction between foreign and domestic terrorism, lowers the program’s event triggers, adds group life insurance to the program, creates a blue-ribbon commission to develop long-term recommendations, and improves coverage for nuclear, biological, chemical, and radiological terrorism events.
The reported bill will now be marked up in the full House Financial Services Committee, which has already announced plans to take up the legislation next week.
The Subcommittee also cast recorded votes on the following amendments:
The Manager’s Amendment, as amended by the Subcommittee, offered by Chairman Kanjorski passed on voice vote.