CA AJR34

Urges the President and Congress to extend the Terrorism Risk Insurance Program Reauthorization Act of 2007 (TRIPRA) before its December 31, 2014 expiration date

Emphasizes that TRIPRA's shared loss program with the federal government is essential for maintaining a stable private market for terrorism insurance and preventing economic disruption in California

Notes that without TRIPRA extension, insurers may reduce coverage in major metropolitan areas including San Francisco and Los Angeles, making commercial lending and investment more difficult

Requests that copies of the resolution be sent to the President, Vice President, Speaker of the House, Senate Majority Leader, and all California members of Congress