The Senate Banking Committee today reported to the floor legislation that would extend the Terrorism Risk Insurance Act for seven years.
The bill is S. 2244, the Terrorism Risk Insurance Program Reauthorization Act of 2014. The panel supported the bipartisan legislation unanimously, 22-0. TRIA's current reauthorization expires Dec. 31.
However, the panel declined to add any amendments to the bill, including S. 2270, "the Insurance Capital Standards Clarification Act of 2014," which will instead be addressed by the Senate under expedited procedures.
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