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HR 3210 107th Congress House Finance and Financial Sector Administrative procedure Alien property Armed Forces and National Security Arms sales Auditing Bank directors Bank examination Bank failures Bank reserves Building leases Business income tax Business insurance Business losses Capital Capital formation Caribbean area Casualty insurance Choice of law Civil actions and liability

Terrorism Risk Insurance Act of 2002

Introduced: November 1, 2001 See on congress.gov
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 Everywhere this bill has been 50 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 26, 2002
Became Public Law No: 107-297.
Nov 26, 2002
Signed by President.
Nov 22, 2002
Presented to President.
Nov 20, 2002
Message on Senate action sent to the House.
Nov 19, 2002
Conference report considered in Senate by Unanimous Consent. (consideration: CR S11524-11530)
Nov 19, 2002
Cloture motion on the conference report to accompany H.R. 3210 presented in Senate.
Nov 19, 2002
Senate agreed to conference report by Yea-Nay Vote. 86 - 11. Record Vote Number: 252.
Nov 19, 2002
Conference report agreed to in Senate: Senate agreed to conference report by Yea-Nay Vote. 86 - 11. Record Vote Number: 252.
Nov 19, 2002
Cloture on the conference report to accompany H.R. 3210 invoked in Senate by Yea-Nay Vote. 85 - 12. Record Vote Number: 251.
Nov 14, 2002
On agreeing to the conference report Agreed to by voice vote.
Nov 14, 2002
Motions to reconsider laid on the table Agreed to without objection.
Nov 14, 2002
Conference report agreed to in House: On agreeing to the conference report Agreed to by voice vote.
Nov 14, 2002
The previous question was ordered without objection.
Nov 14, 2002
DEBATE - The House proceeded with one hour of debate on the conference report.
Nov 14, 2002
Mr. Oxley brought up conference report H. Rept. 107-779 for consideration under the provisions of H. Res. 607. (consideration: CR H8802-8809)
Nov 14, 2002
Rule H. Res. 607 passed House.
Nov 14, 2002
Conference papers: Senate report and manager's statement and message on House action held at the desk in Senate.
Nov 13, 2002
Rules Committee Resolution H. Res. 607 Reported to House. Rule provides for consideration of the conference report to H.R. 3210.
Nov 13, 2002
Conference report filed: Conference report H. Rept. 107-779 filed.(text of conference report: CR H8722-8728)
Nov 13, 2002
Conference report H. Rept. 107-779 filed. (text of conference report: CR H8722-8728)
Sep 10, 2002
DEBATE - The House proceeded with one hour of debate on the motion to instruct conferees on H.R. 3210. The instructions contained in the motion seek to require the managers on the part of the House to agree to the provisions contained in section 11 of the Senate amendment, relating to satisfaction of judgements from frozen assets of terrorists, terrorist organizations, and state sponsors of terrorism.
Sep 10, 2002
Mr. Fossella asked unanimous consent that the House instruct conferees. (consideration: CR H6133-6137)
Sep 10, 2002
Motion to reconsider laid on the table Agreed to without objection.
Sep 10, 2002
On motion that the House instruct conferees Agreed to by the Yeas and Nays: 373 - 0 (Roll no. 379). (consideration: CR H6138-6139)
Sep 10, 2002
POSTPONED VOTE - The Chair put the question on the motion to instruct conferees and announced that the ayes had prevailed. Mr. Fossella objected to the voice vote based on the absence of a quorum and the Chair postponed further proceedings until later in the day.
Sep 9, 2002
NOTICE OF INTENT TO OFFER MOTION - Mr. Fossella notified the House of his intent to offer a motion to instruct conferees on H.R. 3210. The instructions contained in the motion seek to require the managers on the part of the House to agree to the provisions contained in section 11 of the Senate amendment, relating to satisfaction of judgements from frozen assets of terrorists, terrorist organizations, and state sponsors of terrorism.
Jul 27, 2002
The Speaker appointed conferees - from the Committee on Financial Services for consideration of the House bill and the Senate amendment thereto, and modifications committed to conference: Oxley, Baker, Ney, Kelly, Shays, Fossella, Ferguson, LaFalce, Kanjorski, Bentsen, Maloney (CT), and Hooley.
Jul 27, 2002
Mr. Oxley asked unanimous consent that the House disagree to the Senate amendment, and agree to a conference.
Jul 27, 2002
Motion to reconsider laid on the table Agreed to without objection.
Jul 27, 2002
The Speaker appointed conferees - from the Committee on the Judiciary for consideration of sec. 15 of the House bill and secs. 10 and 11 of the Senate amendment thereto, and modifications committed to conference: Sensenbrenner, Goodlatte, and Conyers.
Jul 27, 2002
On motion that the House disagree to the Senate amendment, and agree to a conference Agreed to without objection. (consideration: CR 7/26/2002 H5962, H5969)
Jul 25, 2002
Senate insists on its amendment, asks for a conference, appoints conferees Sarbanes; Dodd; Reed; Schumer; Gramm; Shelby; Enzi.
Jul 25, 2002
See also S. 2600.
Jul 25, 2002
Message on Senate action sent to the House.
Jul 25, 2002
Passed Senate with an amendment by Unanimous Consent.
Jul 25, 2002
Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.
Jul 25, 2002
Senate struck all after the Enacting Clause and substituted the language of S. 2600 amended.
Jul 25, 2002
Measure laid before Senate by unanimous consent.
Dec 3, 2001
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 252.
Nov 30, 2001
Received in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
Nov 29, 2001
Passed/agreed to in House: On passage Passed by recorded vote: 227 - 193 (Roll no. 464).
Nov 29, 2001
On motion to recommit with instructions Failed by recorded vote: 173 - 243 (Roll no. 463).
Nov 29, 2001
The previous question on the motion to recommit with instructions was ordered without objection.
Nov 29, 2001
Floor summary: DEBATE - The House proceeded with 10 minutes of debate, equally divided and controlled, on the LaFalce motion to recommit with instructions. The instructions contained in the motion seek to strike section 15 of the base bill, which is related to litigation management and, also to insert new provisions which prevent commercial insurers from utilizing "pass-through" methods which would result in certain costs being passed on to customers.
Nov 29, 2001
Mr. LaFalce moved to recommit with instructions to Financial Services.
Nov 29, 2001
The previous question was ordered pursuant to the rule.
Nov 29, 2001
DEBATE - Pursuant to the provisions of H. Res. 297, the House proceeded with one hour of debate on the LaFalce amendment in the nature of a substitute.
Nov 29, 2001
DEBATE - The House proceeded with one hour of debate on H.R. 3210.
Nov 29, 2001
Rule provides for consideration of H.R. 3210 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. In lieu of the amendments recommended by the Committee on Financial Services and the Committee on Ways and Means, an amendment in the nature of a substitute consisting of the text of H.R. 3357 shall be considered as adopted. Measure will be considered read. A specified amendment is in order. The amendment in the nature of a substitute printed in the report of the Committee on Rules accompanying this resolution, if offered by Mr. LaFalce or his designee, shall be considered as read and debatable for one hour.
Nov 29, 2001
Considered under the provisions of rule H. Res. 297. (consideration: CR H8572-8630; text of measure as reported in House: CR H8589-8592)
 Votes taken on this bill 3
DateChamberWhat was voted onResultYes–No
Sep 10, 2002 House · vote #379 On Motion to Instruct Conferees Passed 373–0 See who voted →
Nov 29, 2001 House · vote #464 On Passage Passed 227–193 See who voted →
Nov 29, 2001 House · vote #463 On Motion to Recommit with Instructions Failed 173–243 See who voted →
 Plain-English summary Congressional Research Service
Terrorism Risk Insurance Act of 2002 - Establishes in the Department of the Treasury the Terrorism Insured Loss Shared Compensation Program, administered by the Secretary of the Treasury, who shall have general Program authorities and pay the Federal share of compensation for insured losses.

(Sec. 4) Prescribes guidelines for: (1) mandatory insurance company participation in the Program; and (2) mandatory availability of property and casualty insurance for insured losses that does not differ materially from coverage limitations applicable to losses arising from events other than terrorism.

Predicates Program participation by certain governmental or quasi-governmental entities upon a determination made by the Secretary before the occurrence of an act of terrorism in which the entity incurs an insured loss.

Sets forth a formula for shared insurance loss coverage that includes: (1) a Federal share of compensation that is either 80 percent of aggregate insured losses of less than $10 billion, or 90 percent of aggregate insured losses that exceed $10 billion; and (2) a cap on the annual liability of the Federal share of compensation.

Denies judicial review of the Secretary's determination.

(Sec. 6) Terminates the Program one year after the date of enactment. Prescribes conditions for Program extension.

Expresses the sense of Congress that the Secretary should make any determination regarding either Program extension or termination in sufficient time to enable participating insurance companies to include coverage for acts of terrorism in their policies for the second year of the Program, if extended.

Mandates studies and reports to Congress on: (1) insurance coverage availability coupled with insurance industry capacity to absorb future losses resulting from acts of terrorism taking into account profitability; (2) the potential effects of acts of terrorism on the availability of life insurance and other insurance coverage; and (3) terrorism risk insurance premium rates charged by participating insurance companies for insured losses.

(Sec. 8) Expresses the sense of the Congress that the insurance industry should build capacity and aggregate risk to provide affordable property and casualty insurance coverage for terrorism risk.

(Sec. 9) Authorizes appropriations.

(Sec. 10) Establishes a Federal cause of action for property damage, personal injury, or death arising out of or resulting from an act of terrorism which shall preempt State action, and which shall be the exclusive cause of action and remedy for claims (except for claims against terrorists or aiders and abettors, including governments and other entities).

(Sec. 11) Provides for satisfaction of judgments from frozen assets of terrorists, terrorist organizations, and state sponsors of terrorism. Exempts certain property subject to the Vienna Convention on Diplomatic Relations or the Vienna Convention on Consular Relations.

Amends the Victims of Trafficking and Violence Protection Act of 2000 to set forth a special rule for cases against Iran with respect to distribution of foreign military sales funds inadequate to satisfy the amount of compensatory awards against Iran.

What's happening now November 26, 2002

Became Public Law No: 107-297.

 Committees of jurisdiction 4
 Cosponsors 2
All 2 Republican 2