The Senate on Thursday gave its final approval to a 2020 spending bill that includes a provision to reauthorize the Terrorism Risk Insurance Act for seven years.
The Senate voted 71-23 to concur in House amendments that were made on top of changes the Senate made earlier to HR 1865. The House signed off on the Senate amendments Tuesday with a 297-120 vote. HR 1865 would extend the Terrorism Risk Insurance Act through 2027.
The coverage backstop program, which was originally passed in the wake of the Sept. 11, 2001, terrorism attacks in the United States, has been renewed three times, most recently on Jan. 12, 2015, via the Terrorism Risk Insurance Program Reauthorization Act, two weeks after the prior law expired.
The prior program was due to expire at the end of 2020.