PlainBillCongress, translated.Legislation. Context. Public interest.Became Public Law No: 110-160.
Congressional Research Service
Version 49 · Public Law · Dec 26, 2007
(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.
Showing the opening paragraphs of the official summary.
(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.
People & committees
Rep. Capuano, Michael E. [D-MA-8] · D–MA
Legislative record
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Became Public Law No: 110-160.
Became Public Law No: 110-160.
Signed by President.
Signed by President.
Presented to President.
Presented to President.
Cleared for White House.
Motion to reconsider laid on the table Agreed to without objection.
On motion that the House suspend the rules and agree to the Senate amendment Agreed to by the Yeas and Nays: (2/3 required): 360 - 53 (Roll no. 1178). (text as House agreed to Senate amendment: CR H16760-16761)
House roll call 1178 · Individual votesResolving differences -- House actions: On motion that the House suspend the rules and agree to the Senate amendment Agreed to by the Yeas and Nays: (2/3 required): 360 - 53 (Roll no. 1178).(text as House agreed to Senate amendment: CR H16760-16761)
House roll call 1178 · Individual votesDEBATE - The House proceeded with forty minutes of debate on H.R. 2761.
Mr. Ackerman moved that the House suspend the rules and agree to the Senate amendment. (consideration: CR H16760-16767)
Message on Senate action sent to the House.
Passed Senate with an amendment by Unanimous Consent.
Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.
Measure laid before Senate by unanimous consent.
Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent. (consideration: CR S14592-14596)
Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.(consideration: CR S14592-14596)
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
The Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 2761.
Motion to reconsider laid on the table Agreed to without objection.
On passage Passed by the Yeas and Nays: 312 - 110 (Roll no. 884).
House roll call 884 · Individual votesPassed/agreed to in House: On passage Passed by the Yeas and Nays: 312 - 110 (Roll no. 884).
House roll call 884 · Individual votesOn motion to recommit with instructions Failed by the Yeas and Nays: 196 - 228 (Roll no. 883).
House roll call 883 · Individual votesThe previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H10550)
Floor summary: DEBATE - The House proceeded with 10 minutes of debate on the Dreier motion to recommit with instructions.
Mr. Dreier moved to recommit with instructions to Financial Services. (consideration: CR H10549-10551; text: CR H10549)
The House adopted the amendment as agreed to by the Committee of the Whole House on the state of the Union.
The previous question was ordered pursuant to the rule. (consideration: CR H10549)
The House rose from the Committee of the Whole House on the state of the Union to report H.R. 2761.
UNFINISHED BUSINESS - The Chair announced that the unfinished business was the question of adoption of amendments which had been debated earlier and on which further proceedings had been postponed.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Pearce amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Pearce demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the Pearce amendment until later in the legislative day.
DEBATE - Pursuant to the provisions of H. Res. 660, the Committee of the Whole proceeded with 10 minutes of debate on the Pearce amendment.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Frank amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Mr. Pearce demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the Frank amendment until later in the legislative day.
DEBATE - Pursuant to the provisions of H. Res. 660, the Committee of the Whole proceeded with 10 minutes of debate on the Frank amendment.
GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 2761.
The Speaker designated the Honorable Steve Israel to act as Chairman of the Committee.
House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 660 and Rule XVIII.
Rule provides for consideration of H.R. 2761 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order. All points of order against consideration of the bill except clauses 9 and 10 of Rules XXI. The rule provides that the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill, modified by the amendment printed in Part A of this report, shall be considered as adopted.
Considered under the provisions of rule H. Res. 660. (consideration: CR H10526-10551; text of measure as reported in House: CR H10533-10541)
Rule H. Res. 660 passed House.
Rules Committee Resolution H. Res. 660 Reported to House. Rule provides for consideration of H.R. 2761 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order. All points of order against consideration of the bill except clauses 9 and 10 of Rules XXI. The rule provides that the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill, modified by the amendment printed in Part A of this report, shall be considered as adopted.
Placed on the Union Calendar, Calendar No. 201.
Reported (Amended) by the Committee on Financial Services. H. Rept. 110-318.
Reported (Amended) by the Committee on Financial Services. H. Rept. 110-318.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by the Yeas and Nays: 49 - 20.
Forwarded by Subcommittee to Full Committee by the Yeas and Nays: 26 - 17 .
Subcommittee Consideration and Mark-up Session Held.
Referred to the House Committee on Financial Services.
Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Apr 7, 2025. Consult Congress.gov for the current record.
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