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119th CONGRESS
2d Session |
To reauthorize the Terrorism Risk Insurance Act of 2002, and for other purposes.
Mr. McCormick (for himself, Ms. Smith, Mr. Tillis, Mr. Gallego, Mr. Scott of South Carolina, Mr. Kim, Mr. Kennedy, Mr. Van Hollen, Mr. Ricketts, Ms. Cortez Masto, Mr. Cramer, Ms. Alsobrooks, Mr. Crapo, Mr. Warnock, Mr. Rounds, Ms. Blunt Rochester, Mrs. Britt, Mr. Warner, Mr. Hagerty, Mr. Schumer, Mr. Banks, Mr. Moreno, and Ms. Lummis) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
To reauthorize the Terrorism Risk Insurance Act of 2002, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
This Act may be cited as the “Terrorism Risk Insurance Program Reauthorization Act of 2026”.
SEC. 2. 7-year extension of Terrorism Risk Insurance Program.
(a) Termination date.—Section 108(a) of the Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note) is amended by striking “2027” and inserting “2034”.
(b) Timing of mandatory recoupment.—Section 103(e)(7)(E)(i) of the Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note) is amended—
(A) by striking “2022” and inserting “2029”; and
(B) by striking “2024” and inserting “2031”;
(A) by striking “2023” and inserting “2030”;
(B) by striking “2029” and inserting “2036”; and
(C) by striking “2024” and inserting “2031”; and
(A) by striking “2029” and inserting “2036”; and
(B) by striking “2024” and inserting “2031”.