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FL S1538
M
Status
Failed
5/2/2014
Primary Sponsor
Banking and Insurance
Click for details
AI Summary
- Urges Congress to reauthorize the Terrorism Risk Insurance Act of 2002 and its subsequent amendments before expiration on December 31, 2014
- States that without reauthorization, commercial real estate industry will face difficulties financing property sales and refinancing debt due to lack of adequate terrorism insurance policies
- Notes that the 2007 reauthorization expanded the definition of "an act of terrorism" to include domestic, non-foreign sponsored terrorist acts, in addition to conventional attacks
- Argues that lack of private terrorism insurance coverage would shift financial burden to federal taxpayers in the event of a catastrophic terrorist attack
- Directs copies of the memorial be sent to the President, congressional leadership, and Florida's congressional delegation
Legislative Description
Terrorism Risk Insurance Act
Last Action
Died in Criminal Justice
5/2/2014
Committee Referrals
Criminal Justice3/31/2014
Banking and Insurance3/5/2014
Full Bill Text
No bill text available