ABSTRACT

Congressional Budget Office Cost Estimate: H.R. 4871: TRIA Reform Act of 2014   [open pdf - 136KB]

"H.R. 4871 would extend the Terrorism Risk Insurance Act (TRIA) for five years--through calendar year 2019--and, in certain instances, increase the share of insured losses paid by private insurers under the program. The bill also would establish the National Association of Registered Agents and Brokers (NARAB) and authorize it to license producers of insurance (mostly agents and brokers) to operate in multiple states. Finally, the bill would require several new studies of various aspects of the terrorism insurance program. Considering both the direct spending and revenue effects of the bill, CBO [Congressional Budget Office] estimates that enacting H.R. 4871 would increase budget deficits by about $500 million over the 2015-2024 period. Changes in federal revenues and spending, however, would continue beyond 2024; CBO estimates that after taking into account all revenues and direct spending, enacting H.R. 4871 would lead to a small reduction in deficits over time."

Publisher:
Date:
2014-07-15
Series:
Copyright:
Public Domain
Retrieved From:
Congressional Budget Office: http://www.cbo.gov/
Format:
pdf
Media Type:
application/pdf
URL:
Help with citations