WASHINGTON–Legislation extending the Terrorism Risk Insurance Act for 15 years and beefing up government support for insurers in the event of a major terrorist attack was cleared late yesterday for House floor action today.

The bill due before lawmakers is H.R. 2761, the “Terrorism Risk Insurance Revision and Extension Act of 2007″ (TRIREA). It was introduced June 18 by Massachusetts Democrats Rep. Barney Frank, chairman of the House Financial Services Committee, and Rep. Mike Capuano, and amended and passed by the full Financial Services Committee Aug. 2.

The bill is expected to win broad bipartisan support in the House, but the vastly expanded program as proposed under the House bill faces an uncertain future in the Senate.

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