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Terrorism Insurance Backstop Extension Act of 2005

Introduced: March 8, 2005 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 7, 2005
Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.
Mar 8, 2005
Referred to the House Committee on Financial Services.
Mar 8, 2005
Introduced in House
 Plain-English summary Congressional Research Service

Terrorism Insurance Backstop Extension Act of 2005 - Amends the Terrorism Risk Insurance Act of 2002 to define: (1) the term "Program Year 4" as the period from January 1, 2006, through December 31, 2006; and (2) the term "Program Year 5" as the period from January 1, 2007, from December 31, 2007 (thereby extending the terrorism risk insurance program from 2005 through 2007).

Sets a deadline for the Secretary of the Treasury to make a final determination regarding: (1) the availability of group life insurance to both insurers and consumers; and (2) whether certain provisions of the Act shall be applied to providers of group life insurance.

Sunsets the Terrorism Risk Insurance Program after December 31, 2007.

Details the treatment of insured losses and the insurer deductible for the Final Program Year (January 1, 2008, through December 31, 2008).

What's happening now April 7, 2005

Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.

 Committees of jurisdiction 2
 Cosponsors 11
All 11 Democratic 11