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House Bill 4634
116th Congress(2019-2020)
Terrorism Risk Insurance Program Reauthorization Act of 2019
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Passed House on Nov 18, 2019
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H. R. 4634 (Introduced-in-House)


116th CONGRESS
1st Session
H. R. 4634


To reauthorize the Terrorism Risk Insurance Act of 2002, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

October 11, 2019

Ms. Waters (for herself, Mrs. Carolyn B. Maloney of New York, Mr. Clay, Mr. Cleaver, Ms. Velázquez, Mr. Meeks, Mr. King of New York, Mrs. Beatty, Mr. Lynch, Mr. Foster, Ms. Gabbard, Mr. Gottheimer, Mr. Vargas, Mr. McAdams, Ms. Ocasio-Cortez, Mr. Gonzalez of Texas, Mr. Gooden, Mrs. Axne, Mr. Sherman, Mr. Zeldin, Mr. Green of Texas, Mr. David Scott of Georgia, Mr. Himes, Ms. Garcia of Texas, Ms. Wexton, Ms. Dean, Mr. Phillips, and Ms. Adams) introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To reauthorize the Terrorism Risk Insurance Act of 2002, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Terrorism Risk Insurance Program Reauthorization Act of 2019”.

SEC. 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 “2020” and inserting “2030”.

(b) Timing of mandatory recoupment.—Section 103(e)(7)(E)(i) of the Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note) is amended—

(1) in subclause (I)—

(A) by striking “2017” and inserting “2022”; and

(B) by striking “2019” and inserting “2025”;

(2) in subclause (II)—

(A) by striking “2018” and inserting “2023”;

(B) by striking “2019” and inserting “2024”; and

(C) by striking “2024” and inserting “2029”; and

(3) in subclause (III)—

(A) by striking “2019” and inserting “2024”; and

(B) by striking “2024” and inserting “2034”.