4408182 Resolution 20-136, “Captive Earthquake Property Insurance Congressional Review Emergency Declaration Resolution of 2013”

A RESOLUTION

 

20-136 

 

IN THE COUNCIL OF THE DISTRICT OF COLUMBIA

 

June 4, 2013

 

 

To declare the existence of an emergency, due to Congressional review, with respect to the need to provide property insurance for risks to District government real property assets for earthquake and earthquake-related hazards, to authorize the agency to enter into contracts with other insurance companies and re-insurers, and to require the agency’s plan of operation to be modified to include procedures for offering property insurance.

 

            RESOLVED, BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this resolution may be cited as the “Captive Earthquake Property Insurance Congressional Review Emergency Declaration Resolution of 2013”.

 

Sec. 2.  The Captive Earthquake Property Insurance Emergency Amendment Act, effective March 20, 2013 (D.C. Act 20-39; 60 DCR 4663), was adopted by the Council on an emergency basis on March 5, 2013, and will expire on June 18, 2013. The Captive Earthquake Property Insurance Temporary Amendment Act of 2013, signed by the Mayor on April 24, 2013 (D.C. Act 20-63; 60 DCR 6407), was transmitted to Congress on May 6, 2013, and is pending Congressional review. The projected law date for D.C. Act 20-63 is June 24, 2013. This Congressional review emergency is necessary to prevent a gap in the law.

           

Sec. 3.  The Council of the District of Columbia determines that the circumstances enumerated in section 2 constitute emergency circumstances making it necessary that the Captive Earthquake Property Insurance Congressional Review Emergency Amendment Act of 2013 be adopted after a single reading.

 

            Sec. 4.  The resolution shall take effect immediately.