Congress Passes TRIA Legislation
WASHINGTON, DC. December 19, 2007. The United States House of Representatives today passed H.R. 2761, legislation providing a seven-year extension to the Terrorism Risk Insurance Act (TRIA), by a vote of 360-53. This vote followed passage of the legislation by unanimous consent in the Senate on November 16, 2007.
The TRIA legislation will now be sent to the President for his signature. In its House and Senate-passed form, H.R. 2761 extends the terrorism risk insurance program by seven years, offers a study of reset mechanisms, eliminates the distinction between foreign and domestic acts of terrorism, and offers a study for nuclear, biological, chemical, and radiological (NBCR) acts of terrorism.
The extension of the TRIA program, which was set to expire on December 31, 2007, was one of the top three legislative priorities of AH&LA during the past year. Numerous representatives from the lodging industry heavily lobbied their Members of Congress on TRIA during the annual Legislative Action Summit held in March, 2007.
For more information, contact Kevin Maher, AH&LA senior vice president for governmental affairs, at 202-289-3147 or email to: kmaher@ahla.com .
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