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12/12/2007--Passed House without amendment. (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)<br/>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.<br/>(Sec. 3) Extends the Terrorism Risk Insurance Program through calendar 2014.<br/>(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 $1 hundred 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.<br/>Modifies the federal surcharges imposed to recoup the mandatory recoupment amount. Establishes a timeline for the collection of terrorism loss risk-spreading premiums.<br/>Requires the Secretary to publish an annual updated estimate of aggregate insured losses to be used as the basis for determining whether mandatory recoupment will be required. (Sec. 5) Directs the Comptroller General to study and report to certain congressional committees on: (1) the availability and affordability of insurance coverage for losses caused by terrorist attacks involving nuclear, biological, chemical, or radiological terrorist events; and (2) whether there are specific markets in the United States where unique capacity constraints exist upon the amount of terrorism risk insurance available. (Sec. 6) Modifies the Act to include group life insurance coverage. Limits the federal share of such compensation.<br/>(Sec. 7) Provides for increased insurer deductibles based on the value of an insurer's direct earned premiums if aggregate industry insured losses resulting from a certified act of terrorism exceed $1 billion.<br/>(Sec. 8) Requires providers of life insurance to make such insurance available without regard to lawful foreign travel.<br/>(Sec. 9) Reduces from $100 million to $50 million the aggregated industry insured losses that will trigger federal compensation paid for Program Year 5.<br/>

1197522000 2007-12-13 Fri Nov 07 03:06:00 -0600 2008 passed house 47617 'act':6 '2007':8 'risk':2 'insur':3 'terror':1 'program':4 'reauthor':5 59186 false short introduced 47617 'insur':5 'depart':9 'extend':2 'purpos':16 'terror':4 'program':6 'treasuri':12 55153 false official introduced 47617 'act':6 '2007':8 'risk':2 'insur':3 'terror':1 'program':4 'reauthor':5 55152 false short action 47617 1197522000 Thu Dec 13 00:00:00 -0600 2007 143450 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. F000339 1940-03-31 15320 2252 Rayburn House Office Building http://www.house.gov/writerep 4 202-225-0182 Barney 'd':4 '-4':6 'ma':5 'rep':1 'frank':3,8,10 'barney':2,7,9 M 400140 Frank Barney_Frank Rep. Barney Frank [D, MA-4] 7567 N00000275 17907 Democrat 202-225-5931 Jewish MA Barney Frank 2.62162162162162 http://www.house.gov/frank/ action 47617 1197522000 Thu Dec 13 00:00:00 -0600 2007 143450 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. vote 47617 1197492420 Wed Dec 12 16:47:00 -0600 2007 roll 139353 pass On passage Passed by recorded vote: 303 - 116 (Roll no. 1150). vote h action 47617 1197491880 Wed Dec 12 16:38:00 -0600 2007 139352 On motion to recommit with instructions Failed by the Yeas and Nays: 173 - 246 (Roll no. 1149). action 47617 1197490500 Wed Dec 12 16:15:00 -0600 2007 139351 The previous question on the motion to recommit with instructions was ordered without objection. action 47617 1197489840 Wed Dec 12 16:04:00 -0600 2007 154774 DEBATE - The House proceeded with 10 minutes of debate on the Bachus motion to recommit with instructions. The instructions contained in the motion seek to report the same back to the House forthwith with following amendment striking sections 6 through 10. action 47617 1197489840 Wed Dec 12 16:04:00 -0600 2007 139350 Mr. Bachus moved to recommit with instructions to Financial Services. (consideration: H15365-15367; text: CR H15365) action 47617 1197489780 Wed Dec 12 16:03:00 -0600 2007 139349 The previous question was ordered without objection. action 47617 1197485880 Wed Dec 12 14:58:00 -0600 2007 154773 DEBATE - The House proceeded with one hour of debate on H.R. 4299. action 47617 1197485880 Wed Dec 12 14:58:00 -0600 2007 139348 Considered under the provisions of rule H. Res. 862. action 47617 1197485880 Wed Dec 12 14:58:00 -0600 2007 154772 Rule provides for consideration of H.R. 4299 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. action 47617 1197479400 Wed Dec 12 13:10:00 -0600 2007 139347 Rule H. Res. 862 passed House. action 47617 1197435600 Wed Dec 12 00:00:00 -0600 2007 143449 Received in the Senate. action 47617 1197419640 Tue Dec 11 20:34:00 -0600 2007 139346 Rules Committee Resolution H. Res. 862 Reported to House. Rule provides for consideration of H.R. 4299 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. action 47617 1196917200 Thu Dec 06 00:00:00 -0600 2007 138743 Referred to the House Committee on Financial Services. introduced 47617 1196917200 Thu Dec 06 00:00:00 -0600 2007 138742 12 303 47617 Wed Dec 12 15:47:00 -0600 2007 true 3782 116 1150 59 0 On Passage: H R 4299 Terrorism Risk Insurance Program Reauthorization Act false 1/2 Passed On Passage Wed Dec 12 16:20:59 -0600 2007 house 12 173 47617 Wed Dec 12 15:38:00 -0600 2007 false 4267 246 1149 14 0 On Motion to Recommit with Instructions: H R 4299 Terrorism Risk Insurance Program Reauthorization Act true 1/2 Failed On Motion to Recommit with Instructions Wed Dec 12 16:20:06 -0600 2007 house