Department of Treasury May 11, 2006 – Federal Register Recent Federal Regulation Documents
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Open Meeting of the Taxpayer Assistance Center Committee of the Taxpayer Advocacy Panel
An open meeting of the Taxpayer Assistance Center Committee of the Taxpayer Advocacy Panel will be conducted (via teleconference). The Taxpayer Advocacy Panel (TAP) is soliciting public comments, ideas, and suggestions on improving customer service at the Internal Revenue Service.
Terrorism Risk Insurance Program; TRIA Extension Act Implementation
The Department of the Treasury (Treasury) is issuing this proposed rule as part of its implementation of amendments made to Title I of the Terrorism Risk Insurance Act of 2002 (TRIA or Act) \1\ by the Terrorism Risk Insurance Extension Act of 2005 (Extension Act).\2\ The Act established a temporary Terrorism Risk Insurance Program (Program) that was scheduled to expire on December 31, 2005, under which the Federal Government shared the risk of insured losses from certified acts of terrorism with commercial property and casualty insurers. The Extension Act extends the Program through December 31, 2007, and makes other changes which are implemented by this rule. In particular, the rule addresses changes to the types of commercial property and casualty insurance covered by the Act, the requirements to satisfy the Act's mandatory availability (``make available'') provision and the operation of the new ``Program Trigger'' provision in section 103(e)(1)(B) of the Act. This proposed rule proposes to adopt as a final rule the interim final rule published elsewhere in this issue of the Federal Register. The text of the interim final rule serves as the text of this proposed rule.
Terrorism Risk Insurance Program; TRIA Extension Act Implementation
The Department of the Treasury (Treasury) is issuing this interim final rule as part of its implementation of amendments made to Title I of the Terrorism Risk Insurance Act of 2002 (TRIA, or Act) by the Terrorism Risk Insurance Extension Act of 2005 (Extension Act). The Act established a temporary Terrorism Risk Insurance Program (Program) that was scheduled to expire on December 31, 2005, under which the Federal Government shared the risk of insured losses from certified acts of terrorism with commercial property and casualty insurers. The Extension Act extends the Program through December 31, 2007, and makes other changes which are implemented by this rule. In particular, the rule addresses changes to the types of commercial property and casualty insurance covered by the Act, the requirements to satisfy the Act's mandatory availability (``make available'') provision and the operation of the new ``Program Trigger'' provision in section 103(e)(1)(B) of the Act. Published elsewhere in this issue of the Federal Register is a notice of proposed rulemaking that proposes to adopt as a final rule the provisions of this interim final rule.
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