HR 4619 · 109th Congress 2005–2007, ended

Commission on Terrorism Risk Insurance Act of 2005

Introduced Dec 17, 2005 Originated House Sponsor Vito Fossella R-NY

Fact sheet

Latest action · Jan 10, 2006 Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

  1. IntroducedDec 17, 2005
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Commission on Terrorism Risk Insurance Act - Amends the Terrorism Risk Insurance Act of 2002 to establish the Commission on Terrorism Risk Insurance.

Directs the Commission to identify and make recommendations regarding actions to: (1) encourage, facilitate, and sustain provision by the private domestic insurance industry of affordable coverage for losses due to acts of terrorism; (2) sustain or supplement the ability of the domestic insurance industry to cover losses resulting from acts of terrorism; (3) reduce the federal role over time in any continuing federal terrorism risk insurance program; and (4) evaluate whether coverage under the Terrorism Insurance Program is necessary to permit redevelopment at sites of previous acts of terrorism.

Instructs the Commission to evaluate and makes recommendations on the need for a federal terrorism risk insurance program.

Requires the Terrorism Insurance Program to remain in effect, but only to cover insured losses under property and casualty insurance issued on or before December 31, 2008, if the Commission determines that the market will not provide for renewal or generation of new insurance contracts necessary to permit redevelopment at the site of a previous act of terrorism.

Cosponsors 19

Members who signed on, in the order they did. Signatures ran from Dec 17, 2005 to Apr 25, 2006, with 5 there on the day it was introduced.

SeatCosponsorSigned on
D-NYCarolyn B. MaloneyOriginalDec 17, 2005
R-NYJohn E. SweeneyOriginalDec 17, 2005
R-NYJohn M. McHughOriginalDec 17, 2005
R-NYPeter T. KingOriginalDec 17, 2005
R-NYThomas M. ReynoldsOriginalDec 17, 2005
R-CTChristopher ShaysDec 18, 2005
D-NYEdolphus TownsDec 18, 2005
R-NYSherwood BoehlertDec 18, 2005
R-MIThaddeus G. McCotterJan 31, 2006
D-MABill DelahuntFeb 1, 2006
R-NYJames T. WalshFeb 1, 2006
R-CTRob SimmonsFeb 1, 2006
D-NYEliot L. EngelFeb 7, 2006
D-MAMichael E. CapuanoFeb 7, 2006
D-NYJose E. SerranoFeb 8, 2006
R-WIMark GreenMar 6, 2006
D-NYMaurice D. HincheyMar 28, 2006
D-MORuss CarnahanMar 28, 2006
D-NYJoseph CrowleyApr 25, 2006

Actions 3

Everything that happened, newest first.

  1. Jan 10, 2006Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.
  2. Dec 17, 2005Introduced in House
  3. Dec 17, 2005Referred to the House Committee on Financial Services.

Subjects

Assigned by the Library of Congress. Policy area: Finance and Financial Sector.

Text 1

Each version as it was printed, newest first.

  1. Dec 17, 2005Introduced in House

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.