{"bill":{"id":"117-hr-5734","congress":117,"type":"HR","number":5734,"title":"CART Act","originChamber":"House","introducedDate":"2021-10-26","sponsors":[{"bioguideId":"H001047","fullName":"Rep. Himes, James A. [D-CT-4]","party":"D","state":"CT","district":4}],"cosponsorsCount":4,"latestAction":{"actionDate":"2021-10-26","text":"Referred to the Committee on Ways and Means, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned."},"policyArea":"Taxation","subjects":[],"actions":[{"date":"2021-10-26","text":"Referred to the Committee on Ways and Means, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.","type":"IntroReferral","chamber":"House floor actions","hasVote":false},{"date":"2021-10-26","text":"Referred to the Committee on Ways and Means, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.","type":"IntroReferral","chamber":"House floor actions","hasVote":false},{"date":"2021-10-26","text":"Introduced in House","type":"IntroReferral","chamber":"Library of Congress","hasVote":false},{"date":"2021-10-26","text":"Introduced in House","type":"IntroReferral","chamber":"Library of Congress","hasVote":false}],"summary":" <p><strong>Catastrophic Risk Transfer Act of 2021 or the CART Act</strong></p> <p>This bill establishes a system for the taxation of catastrophic risk transfer companies and their security holders to ensure sufficient capital to cover catastrophic insurance losses. The bill defines<em> catastrophic risk</em> as a risk of loss that has a low likelihood of occurring but that would be large in amount.</p> <p> The bill defines <em>catastrophic risk transfer company</em> as any domestic corporation created and regulated under state law with the purpose of entering into one or more insurance or reinsurance agreements covering catastrophic risk.</p>","updateDate":"2025-01-03T07:33:00Z"},"markets":[],"stateBills":[],"meta":{"sources":["congress.gov"],"latencyMs":309,"ts":"2026-04-19T11:23:29.680Z"},"nextActions":{"inspect":[],"related":[{"description":"Search related legislation","method":"GET","url":"/api/public/query-gov?q=CART%20Act"}]}}