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HR7128119th CongressWALLET

TRIA Program Reauthorization Act of 2026

Sponsored By: Representative Rep. Flood, Mike [R-NE-1]

In Committee

Summary

Extends the Terrorism Risk Insurance Program to 2034. The bill would also tighten when the federal government can certify an event as an act of terrorism and add faster public notice rules.

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  • Insurers and commercial policyholders face a higher certification trigger: the monetary threshold stays $5 million for events before 2029 and becomes $10 million for events in 2029 or later.
  • Federal process and public notice change: the Secretary must publish a Federal Register notice within 30 days of starting a certification determination and may not certify until 90 days after that publication. The Secretary can also publish notices saying an event is not being evaluated.
  • Law text and administration update: the bill standardizes the statute name to "Terrorism Risk Insurance Program" and corrects several year cross-references so internal dates match the extended timeline.

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 2 benefits, 0 costs, 1 mixed.

Extend federal terrorism backstop to 2034

This bill would extend the Terrorism Risk Insurance Program's authorization through 2034 by replacing the current 2027 sunset with 2034. The change would keep the federal backstop for insured terrorism losses in place until 2034. The bill does not appropriate new funds.

Tighter certification rules and notices

This bill would raise the dollar test that qualifies an act as a certified terrorism loss. For acts before 2029 the test would be $5,000,000 and for acts in 2029 or later it would be $10,000,000. The bill would also require the Treasury Secretary to publish a Federal Register notice within 30 days after starting a certification review. The Secretary could not certify an act until at least 90 days after that notice.

Technical year and name fixes

This bill would correct several year references and the program name across the statute. Examples include updating years in timing clauses (for example, changes like 2022→2029 and 2024→2031) and replacing "Terrorism Insurance Program" with "Terrorism Risk Insurance Program." These are technical fixes to align the law with the other date changes.

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Sponsors & CoSponsors

Sponsor

Rep. Flood, Mike [R-NE-1]

NE • R

Cosponsors

  • Garbarino

    NY • R

    Sponsored 1/16/2026

  • Rep. Cleaver, Emanuel [D-MO-5]

    MO • D

    Sponsored 1/22/2026

  • Rep. Velázquez, Nydia M. [D-NY-7]

    NY • D

    Sponsored 1/22/2026

  • Rep. Pressley, Ayanna [D-MA-7]

    MA • D

    Sponsored 1/22/2026

Roll Call Votes

No roll call votes available for this bill.

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