A Message From Tom Bisacquino
NAIOP, President and CEO:
I’m very pleased to report that President Obama signed into law on Monday the six-year reauthorization of the federal terrorism risk insurance program. This followed Congress’ fast action on passage last week, with overwhelmingly positive votes of 416-5 in the House and 93-4 in the Senate.
Renewal of the Terrorism Risk Insurance Act (TRIA) was one of NAIOP’s top legislative priorities, and its renewal represents a victory for the industry. NAIOP and its real estate industry allies lobbied Congress to renew TRIA throughout 2014.
NAIOP extends its appreciation to all members who contacted their elected officials in support of passing TRIA. Member advocacy efforts are crucial in communicating industry priorities to congressional lawmakers, and in this case, Congress heard the message loud and clear.