AI-assisted analysis based on the official CRS summary. Source version: Apr 17, 2026. Analysis updated: Sep 15, 2026.
01 — The Text
What.
- Reauthorizes the Terrorism Risk Insurance Program through 2034
- Program covers a portion of private insurer losses for property and casualty insurance related to terrorism risk
- Increases the amount of property and casualty insurance losses required for certification under the program beginning in 2029
- Provides statutory authority for Department of the Treasury public notification requirements regarding terrorism act determinations
02 — The Stakes
So what?
- Private insurers will continue to have federal backstop coverage for terrorism-related property and casualty losses through 2034
- Higher loss thresholds starting in 2029 will change which events trigger program certification
- Treasury Department gains explicit statutory authority to notify the public about its process for determining whether an act qualifies as terrorism under the program
03 — The Path
Now what?
- House passed the bill on June 29, 2026 by vote of 373-15 under suspension of the rules
- Bill received in Senate on July 13, 2026 and referred to Committee on Banking, Housing, and Urban Affairs
- Status: Pending Senate committee action
Legislative History
Actions.
- Jul 13, 2026 — Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Jun 29, 2026 — Motion to reconsider laid on the table Agreed to without objection.
- Jun 29, 2026 — On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 373 - 15 (Roll no. 229). (text: CR H4273-4274)
- Jun 29, 2026 — Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 373 - 15 (Roll no. 229). (text: CR H4273-4274)
- Jun 29, 2026 — Considered as unfinished business. (consideration: CR H4302-4303)
- Jun 29, 2026 — At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
- Jun 29, 2026 — DEBATE - The House proceeded with forty minutes of debate on H.R. 7128.
- Jun 29, 2026 — Considered under suspension of the rules. (consideration: CR H4273-4279)