US Congress House Bill 7394 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on June 26 2020 - 25% progression, died in committee
Action: 2020-06-26 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Establishes the Business Interruption Relief Program within the Department of the Treasury to provide financial assistance to insurers that voluntarily pay benefits under certain policies for COVID-19 (i.e., coronavirus disease 2019) losses. Specifically, insurers qualify for the program if the insurer has at least one outstanding and existing policy for business interruption coverage that (1) expressly covers losses during a civil authority shutdown as a result of the COVID-19 pandemic, and (2) expressly excludes coverage for a virus. Participation in the program is voluntary.

Business Interruption Relief Act of 2020

Rep. Mike Thompson [D-CA]

Date	Chamber	Action
2020-06-26	House	Referred to the House Committee on Financial Services.
2020-06-26	House	Introduced in House

HB7412 (Same As) 2020-06-29 - Referred to the House Committee on Financial Services.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/7394/all-info
Text	https://www.congress.gov/116/bills/hr7394/BILLS-116hr7394ih.pdf