3.0.0 4014 2023-01-11T13:17:20Z 2023-01-11T13:17:20Z House H HR 2009-11-04 111 hsba00 Financial Services Committee House Standing Referred to 2009-11-04T15:00:44Z Catastrophe Obligation Guarantee Act 111 886 S 2009-04-27 Sponsor introductory remarks on measure. (CR S4729-4730) Related bill CRS 2009-11-04 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2009-11-04 Introduced in House IntroReferral Intro-H 9 Library of Congress 2009-11-04 Introduced in House IntroReferral 1000 9 Library of Congress S000030 Rep. Sanchez, Loretta [D-CA-47] LORETTA SANCHEZ D CA 47 N L000397 Rep. Lofgren, Zoe [D-CA-16] ZOE LOFGREN D CA 16 2009-11-19 False C001080 Rep. Chu, Judy [D-CA-32] Judy Chu D CA 32 2009-11-19 False F000030 Rep. Farr, Sam [D-CA-17] SAM FARR D CA 17 2009-12-15 False N000179 Rep. Napolitano, Grace F. [D-CA-38] GRACE NAPOLITANO D CA F. 38 2010-01-20 False G000559 Rep. Garamendi, John [D-CA-10] John Garamendi D CA 10 2010-01-20 False C001064 Rep. Campbell, John [R-CA-48] John Campbell R CA 48 2010-01-20 False C001059 Rep. Costa, Jim [D-CA-20] Jim Costa D CA 20 2010-02-02 False S001150 Rep. Schiff, Adam B. [D-CA-29] ADAM SCHIFF D CA B. 29 2010-02-02 False M001161 Rep. Melancon, Charlie [D-LA-3] Charlie Melancon D LA 3 2010-02-02 False S001156 Rep. Sánchez, Linda T. [D-CA-39] Linda Sánchez D CA T. 39 2010-02-02 False T000460 Rep. Thompson, Mike [D-CA-1] MIKE THOMPSON D CA 1 2010-03-12 False C001036 Rep. Capps, Lois [D-CA-23] LOIS CAPPS D CA 23 2010-03-16 False W000738 Rep. Woolsey, Lynn C. [D-CA-6] LYNN WOOLSEY D CA 6 2010-03-18 False R000486 Rep. Roybal-Allard, Lucille [D-CA-34] LUCILLE ROYBAL-ALLARD D CA 34 2010-03-18 False S001175 Rep. Speier, Jackie [D-CA-12] Jackie Speier D CA 12 2010-03-24 False R000581 Rep. Richardson, Laura [D-CA-37] Laura Richardson D CA 37 2010-03-24 False L000551 Rep. Lee, Barbara [D-CA-9] BARBARA LEE D CA 9 2010-04-20 False F000116 Rep. Filner, Bob [D-CA-51] BOB FILNER D CA 51 2010-04-21 False B000410 Rep. Berman, Howard L. [D-CA-28] HOWARD BERMAN D CA L. 28 2010-04-27 False H001034 Rep. Honda, Michael M. [D-CA-15] MICHAEL HONDA D CA M. 15 2010-04-27 False S000344 Rep. Sherman, Brad [D-CA-27] BRAD SHERMAN D CA 27 2010-04-27 False D000598 Rep. Davis, Susan A. [D-CA-53] SUSAN DAVIS D CA A. 53 2010-04-27 False M001166 Rep. McNerney, Jerry [D-CA-11] Jerry McNerney D CA 11 2010-04-29 False S000810 Rep. Stark, Fortney Pete [D-CA-13] PETE STARK D CA 13 2010-04-29 False M001163 Rep. Matsui, Doris O. [D-CA-5] Doris Matsui D CA O. 5 2010-07-29 False Emergency Management Appropriations Disaster relief and insurance Government lending and loan guarantees Insurance industry and regulation Intergovernmental relations Life, casualty, property insurance Natural disasters Emergency Management 00 2009-11-04 Introduced in House 2010-01-05T22:31:39Z Catastrophe Obligation Guarantee Act of 2009 - Directs the Secretary of the Treasury to guarantee holders against loss of principal, interest, or both, on obligations issued by eligible state programs that are established to provide insurance and reinsurance coverage for residential property in the case of catastrophic events.

Prescribes standards for eligible state programs, and for catastrophic debt guarantees.

Limits the aggregate principal amount of guaranteed debt following a catastrophic event to the amount by which the insured losses expected to be sustained by the state program as a result of the events exceed 80% of: (1) the qualifying assets of an eligible state program as stated in its most recent quarterly financial statement filed with the domiciliary regulator; or (2) a state's unrestricted net assets as stated in its annual financial statement.

Pledges the full faith and credit of the United States to the payment of all guarantees issued under the program.

Limits the aggregate total principal amount of guaranteed debt obligations to: (1) $5 billion for earthquake peril; and (2) $20 billion for all other perils.

Makes appropriations to satisfy debt guarantee commitments and attendant administrative expenses.

]]> Catastrophe Obligation Guarantee Act of 2009 Display Title Catastrophe Obligation Guarantee Act of 2009 Official Title as Introduced To establish a program to provide guarantees for debt issued by State catastrophe insurance programs to assist in financial recovery from natural catastrophes. Introduced in House IH Short Titles as Introduced Catastrophe Obligation Guarantee Act of 2009 Introduced in House 2009-11-04T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr4014ih/xml/BILLS-111hr4014ih.xml 2009-11-04 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.