Summary: H.R.1945 — 113th Congress (2013-2014)All Information (Except Text)

There is one summary for H.R.1945. Bill summaries are authored by CRS.

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Introduced in House (05/09/2013)

Fostering Resilience to Terrorism Act of 2013 - Amends the Terrorism Risk Insurance Act of 2002 to revise the definition of an "act of terrorism" to mean any act that is certified as meeting the specified criteria for such an act by the Secretary of Homeland Security (DHS), in concurrence with the Secretary of the Treasury (currently, by the Secretary of the Treasury in concurrence with the Secretary of State).

Extends the Terrorism Insurance Program until December 31, 2024 (under current law the Program expires on December 31, 2014).

Requires reports in 2017, 2020, and 2030 on the findings of the President's Working Group on Financial Markets pursuant to an ongoing analysis regarding the long-term availability and affordability of insurance for terrorism risk.

Directs the DHS Secretary to: (1) provide to insureds under the Program, through the Secretary of the Treasury, timely homeland security information, including terrorism risk information, at the appropriate classification level and information on best practices to foster resilience to a terrorist act; and (2) conduct research to determine the extent to which such insureds, particularly insureds in critical infrastructure sectors, incorporate such best practices information into their business operations.