Skip to main content
S 2764 108th Congress Senate Finance and Financial Sector Casualty insurance Coinsurance Commerce Compensation (Law) Congress Congressional reporting requirements Crime and Law Enforcement EBB Terrorism Insurance companies Law Legislation Life insurance Losses Property insurance Terrorism

Terrorism Risk Insurance Extension Act of 2004

Introduced: July 22, 2004 See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 22, 2004
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jul 22, 2004
Sponsor introductory remarks on measure. (CR S8752-8753)
Jul 22, 2004
Introduced in Senate
 Plain-English summary Congressional Research Service

Terrorism Insurance Extension Act of 2004 - Amends the Terrorism Risk Insurance Act of 2002 (TRIA) to extend the terrorism risk insurance program from 2005 through 2007.

Repeals the condition on the authority of the Secretary of the Treasury to pay or adjust compensation for insured losses after termination of the program that limits such losses to those arising from an act of terrorism occurring only during the period in which the program was in effect.

Defines "Program Year 4" as calendar 2006 and "Program Year 5" as calendar 2007.

Increases the insurance marketplace aggregate retention amount for Program Years 4 and 5.

Directs the Secretary to apply TRIA to providers of group life insurance.

Instructs the Presidential Working Group on Financial Markets to report to Congress its recommendations for legislation to address the long-term availability and affordability of insurance for terrorism risk.

What's happening now July 22, 2004

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 2 Republican 1