January 7, 2015
U.S. House of Representatives Passes TRIA Reauthorization Bill: Six-year Extension Receives Wide Bipartisan Support; Senate to Consider SoonThis afternoon, one day after members of the 114th Congress took office, and by a vote of 416-5, the U.S. House of Representatives passed H.R. 26, the "Terrorism Risk Insurance Program Reauthorization Act of 2015," a bill to reform the Terrorism Risk Insurance Act (TRIA) and reauthorize the program for six years through 2020. H.R. 26 is identical to legislation (S. 2244) that was overwhelmingly passed by the House of Representatives last Dec. 10 by a vote of 417-7 but died when the U.S. Senate failed to consider the measure before the end of 2014. NAREIT and its partners in the Coalition to Insure Against Terrorism (CIAT) are extremely pleased that the new Congress has moved quickly to pass this proposal renewing the recently-expired TRIA program. Yesterday, CIAT sent a letter to House Financial Services Committee Chairman Jeb Hensarling strongly supporting H.R. 26 and praising the House’s swift response. ContactFor further information, please contact Robert Dibblee, SVP, Government Relations, at rdibblee@nareit.com or Kirk Freeman, VP, Government Relations, at kfreeman@nareit.com. |