Sec. 3. AMENDMENTS TO DEFINED TERMS
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## SEC. 3 AMENDMENTS TO DEFINED TERMS ###
(a)Program Years Section 102(11) of the Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note; 116 Stat. 2326) is amended by adding at the end the following: > > ##### “(E) Program year 4 > > The term ‘**Program Year 4**’ means the period beginning on January 1, 2006 and ending on December 31, 2006. > > > ##### “(F) Program year 5 > > The term ‘**Program Year 5**’ means the period beginning on January 1, 2007 and ending on December 31, 2007.” > . ###
(b)Exclusions From Covered Lines ####
(1)In general Section 102(12)(B) of the Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note; 116 Stat. 2326) is amended— #####
(A)in clause (vi), by striking “or” at the end; #####
(B)in clause (vii), by striking the period at the end and inserting a semicolon; and #####
(C)by adding at the end the following: > > ###### “(viii) > > commercial automobile insurance; > > > ###### “(ix) > > burglary and theft insurance; > > > ###### “(x) > > surety insurance; > > > ###### “(xi) > > professional liability insurance; or > > > ###### “(xii) > > farm owners multiple peril insurance.” > . ####
(2)Conforming amendment Section 102(12)(A) of the Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note; 116 Stat. 2326) is amended by striking “surety insurance” and inserting “directors and officers liability insurance”. ###
(c)Insurer Deductibles Section 102(7) of the Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note; 116 Stat. 2325) is amended— ####
(1)in subparagraph (D), by striking “and” at the end; ####
(2)by redesignating subparagraph
(E)as subparagraph (G); ####
(3)by inserting after subparagraph (D), the following: > > ##### “(E) > > for Program Year 4, the value of an insurer’s direct earned premiums over the calendar year immediately preceding Program Year 4, multiplied by 17.5 percent; > > > ##### “(F) > > for Program Year 5, the value of an insurer’s direct earned premiums over the calendar year immediately preceding Program Year 5, multiplied by 20 percent; and” > ; and ####
(4)in subparagraph (G), as so redesignated, by striking “through (D)” and all that follows through “Year 3” and inserting the following: “through (F), for the Transition Period or any Program Year”.
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U.S. Code
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- 116 Stat. 2326
- 116 Stat. 2325
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