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TREAS/DO RIN: 1505-AC24 Publication ID: Spring 2014 
Title: Terrorism Risk Insurance Program; Final Netting  
Abstract: The Department of the Treasury (Treasury) is issuing this rule as part of its implementation of title I of the Terrorism Risk Insurance Act of 2002 (TRIA or the Act), as amended by the Terrorism Risk Insurance Extension Act of 2005 (Extension Act) and the Terrorism Risk Insurance Program Reauthorization Act of 2007 (Reauthorization Act). The Act established a temporary Terrorism Risk Insurance Program (TRIP or Program) under which the Federal Government would share the risk of insured losses from certified acts of terrorism with commercial property and casualty insurers. The Reauthorization Act has now extended the Program until December 31, 2014. The rule incorporates and implements statutory requirements in section 103(e)(4) of the Act, for the final netting of payments under the Program. In particular, the rule will establish procedures by which, after the Secretary has determined that claims for the Federal share of insured losses arising from a particular program year shall be considered final, a final netting of payments to or from insurers will be accomplished. 
Agency: Department of the Treasury(TREAS)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 31 CFR 50 
Legal Authority: 5 USC 301; 31 USC 321; title I, PL 107-297, 116 Stat 2322, as amended by PL 109-144; 119 Stat 2660 and PL 110-160, 121 Stat 1839 (15 USC 6701 note) 
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  08/03/2010  75 FR 45563 
NPRM Comment Period End  10/04/2010   
Final Action  11/00/2014   
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
James Brown
Department of the Treasury
Departmental Offices
1425 New York Avenue NW., Suite 2100,
Washington, DC 20220
Phone:202 622-6910
Email: james.brown@treasury.gov

 
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