economy were vulnerable, creating broader threats to the national economy. Congress responded by enacting TRIA in November 2002 to provide a government reinsurance backstop in case of large-scale terrorist attacks, requiring that business insurers offer terrorism coverage for the types of insurance included in the act. Congress extended and amended TRIA in December 2005 and December 2007. Following enactment of the 2007 TRIA extension, the Congressional Budget Office forecast a net federal budget cost of $0 for TRIA through 2017. "Under TRIA, the federal government would help insurers cover losses in the event of a terrorist attack under certain conditions, and would also impose assessments on the insurance industry to recover all or a portion of the federal payments." The act expired on December 31, 2014, but was renewed at the start of the next congress, with President Barack Obama signing the extension on January 12, 2015. Many experts warn that "construction projects could be stalled and commercial loans on shopping malls, utilities and skyscrapers could be in jeopardy." In addition, according to the Baltimore Sun, the National Football League denied rumors that it would cancel the Super Bowl over the issue. The act was set to expire on December 31, 2019, but was renewed under the 116th Congress as part of an omnibus spending bill, with President Donald Trump signing the Further Consolidated Appropriations Act, 2020 on December 20, 2019. The Act includes the Terrorism Risk Insurance Program Reauthorization Act of 2019 which further extends the TRIPRA for an additional 7 years, expiring on December 31, 2027. Governance The Secretary of the Treasury oversees the Terrorism Insurance Program, with the assistance of the Federal Insurance Office. The Secretary has authority to establish regulations and procedures to implement TRIA. Definition of terrorism The term "act of terrorism" is defined in the act as: any act certified by the Secretary of the Treasury, in concurrence with the Secretary of Homeland Security and Attorney General, to be an act that is dangerous to human life, property, or infrastructure and to have resulted in damage within the U.S. (or outside the U.S. in the case of a U.S.-flagged vessel, aircraft or premises of a U.S. mission). It must be committed as part of an effort to coerce U.S. civilians or to influence either policy or conduct of the U.S. Government through coercion. The definition includes both foreign and domestic terrorists. The Secretary may