Terrorism Risk Insurance Bill Heading to Senate Banking Committee Markup

A bipartisan invoice extending a program designed to curb monetary harm from potential terrorist assaults is heading to a Senate Banking Committee markup subsequent week, a number of individuals conversant in the matter stated. 

The precise date remains to be being hammered out, in keeping with a committee supply. 

The laws, launched Thursday by Sens. Thom Tillis (R-N.C.) and Tina Smith (D-Minn.), would lengthen the Terrorism Threat Insurance coverage Program by way of December 31, 2027, as an alternative of its present expiration date on the finish of 2020. The Home Monetary Providers Committee unanimously handed an analogous invoice on the finish of October. 

The fast introduction and markup of the Senate invoice paves the best way for the invoice to sail by way of the committee, a number of of the individuals stated, marking one of many last hurdles for this system’s long-term extension.