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S.2244: Terrorism Risk Insurance Program Reauthorization Act of 2014

About this Bill

This bill was introduced in the 113th Congress
This bill is primarily about finance and financial sector
You can read the bill
Sponsor Charles E. Schumer, D-N.Y.
Total Cosponsors 25 (18 Democrats, 7 Republicans)
Introduced April 10, 2014
Latest Major Action Dec. 11, 2014
See it on GovTrack
See it on C-SPAN

Bill Progress

  • Bill introduced in the Senate   
  • Bill passed in the Senate   
  • Bill passed in the House   
  • Bill signed into law

Bill Summary

Terrorism Risk Insurance Program Reauthorization Act of 2014 - Title I: Extension of Terrorism Insurance Program - (Sec. 101) Amends the Terrorism Risk Insurance Act of 2002 (TRIA) to extend the Terrorism Insurance Program through December 31, 2020, and to revise requirements for the Program.

(Sec. 102) Requires the federal share of payments beginning on January 1, 2016, for acts of terrorism, in general, to be reduced annually to 80% of insured losses.

(Sec. 103) Specifies the aggregate industry insured losses resulting from certified acts of terror which will, beginning calendar years 2015-2019, trigger the federal share of compensation under the Program as: (1) $100 million for 2015; (2) $120 million for 2016; (3) $140 million for 2017; (4) $160 million for 2018, (5) $180 million for 2019; and (6) $200 million for 2020 and thereafter.

(Sec. 104) Revises requirements for mandatory recoupment (repayment) from insurers of federal financial assistance p...

(Source: Congressional Research Service)

Bill Actions

Date Description
Dec. 11, 2014 Message on House action received in Senate and at desk: House amendment to Senate bill.
Dec. 10, 2014 Motion to reconsider laid on the table Agreed to without objection.
Dec. 10, 2014

On passage Passed by the Yeas and Nays: 417 - 7 (Roll no. 557). (text: CR H8975-8982)

Dec. 10, 2014 The previous question was ordered pursuant to the rule. (consideration: CR H8991)
Dec. 10, 2014 DEBATE - The House proceeded with one hour of debate on S. 2244.
Dec. 10, 2014 Resolution provides for consideration of S. 2244; provides suspension authority; and provides for proceedings through Jan. 3, 2015.
Dec. 10, 2014 Considered under the provisions of rule H. Res. 775. (consideration: CR H8975-8991)
July 17, 2014 Held at the desk.
July 17, 2014 Message on Senate action sent to the House.
July 17, 2014 Received in the House.
July 17, 2014

Passed Senate with amendments by Yea-Nay Vote. 93 - 4. Record Vote Number: 231. (text: CR S4589-4595)

July 17, 2014 The committee reported amendments are agreed to by Unanimous Consent and considered as original text. (text of measure as reported in Senate: CR S4574-4575)
July 17, 2014 Measure laid before Senate by unanimous consent. (consideration: CR S4574-4595)
July 10, 2014 Motion to proceed to consideration of measure made in Senate. (consideration: CR S4367, S4384)
July 9, 2014 Motion to proceed to consideration of measure made in Senate. (consideration: CR S4298-4324)
June 26, 2014 By Senator Johnson SD, from Committee on Banking, Housing, and Urban Affairs filed written report. Report No. 113-199.
June 23, 2014 Placed on Senate Legislative Calendar under General Orders. Calendar No. 438.
June 23, 2014 Committee on Banking, Housing, and Urban Affairs. Reported by Senator Johnson SD, with amendments. Without written report.
June 3, 2014 Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment favorably.
April 10, 2014 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.