House Passes TRIA Reauthorization; Senate Tees Up Consideration
June 30, 2026
Congress continues to make steady bipartisan progress toward reauthorizing the Terrorism Risk Insurance Program (TRIA) well ahead of its December 31, 2027 expiration.
- The House passed H.R. 7128 on Monday by a vote of 373-15. The bill would extend the program for seven years, through 2034.
- CREFC supports the House and Senate efforts to reauthorize the program in advance.
Why it matters: The TRIA program, originally enacted in the wake of 9-11, provides a federal backstop to losses from significant terrorist attacks.
- Terrorism risk insurance remains a critical underwriting requirement across CRE finance. Its long-term reauthorization will provide the certainty needed by lenders, borrowers, investors, and the broader capital markets.
- CREFC and other industry partners have been meeting with lawmakers and staff on the importance of maintaining the existing TRIA framework.
In the House, the passage of the TRIA Program Reauthorization Act of 2026 under suspension of the rules follows strong bipartisan support in the House Financial Services Committee earlier this year.
- H.R. 7128 would extend the program for seven years, through 2034, while preserving TRIA's longstanding public-private partnership and incorporating several targeted technical refinements.
Momentum is also building in the Senate. Earlier this spring, Senators David McCormick (R-PA), Tina Smith (D-MN), Thom Tillis (R-NC), and Ruben Gallego (D-AZ) introduced S. 4395, a clean, bipartisan seven-year TRIA reauthorization bill.
- Most recently, those same provisions were offered as Amendment #5879 to the Fiscal Year 2027 National Defense Authorization Act (NDAA).
- The Senate often considers standalone legislation in “must-pass” packages, as the chamber’s looser floor rules lead to longer legislative processes.
CREFC will continue working with congressional offices and coalition partners to advance long-term reauthorization this year, ensuring continued certainty for commercial real estate finance markets and avoiding unnecessary disruption as the current authorization approaches its expiration.
Contact David McCarthy (dmccarthy@crefc.org) with questions.