Terrorism Risk Insurance Extended for 7 Years
In a win for multifamily developers, Congress approved an NAHB-supported provision that reauthorizes the Terrorism Risk Insurance Act (TRIA) for seven years through Dec. 31, 2027, as part of fiscal 2020 appropriations legislation that was approved at the end of the year.
TRIA reauthorization offers stability for NAHB’s multifamily and commercial real estate members by providing affordable and reliable terrorism risk insurance.
The legislation was initially enacted in 2002 to provide a federal backstop for insurance companies in the event of a major terrorist attack after many insurers started excluding terrorism events from their policies following the Sept. 11, 2001 terror attacks. The measure was extended for two years in 2005 and for another seven years in 2007. In 2015, TRIA was extended through Dec. 31, 2020. The latest action by Congress ensures the program will remain in place through the end of 2027.
Also of interest to multifamily developers, the fiscal 2020 spending bill extended the EB-5 Immigrant Investor program through Sept. 30, 2020.
The EB-5 program can help NAHB members obtain acquisition, development and construction financing by working with foreign investors who are seeking lawful U.S. residency.
Under the EB-5 visa program, foreign-born investors willing to invest $900,000 to $1.8 million in a U.S. enterprise that creates at least 10 full-time job within two years are eligible to receive permanent residency status for themselves, their spouse and all children under the age of 21.
Unfortunately, new regulations from the U.S. Citizenship and Immigration Services (USCIS) significantly raising the program’s longstanding thresholds of investment and widening the gap between rural and urban amounts went into effect in November 2019. Immigrants seeking to utilize the EB-5 program now must invest a minimum of $900,000 (up from $500,000) in areas designed by the USCIS as high unemployment or rural areas. They will need to invest at least $1.8 million (up from $1 million) for economic projects in all other areas.
NAHB submitted comments expressing opposition to the regulations and urging more sensible amendments to the investment thresholds, among other reforms to the program. NAHB is hopeful for a positive resolution as congressional leaders continue working on a legislative agreement.
Latest from NAHBNow
Oct 23, 2025
IBS 2026 Exhibit Home Aims for Groundbreaking Energy-Efficiency RatingFor anyone curious about how far today’s innovative building products can take a home’s performance, The New American Home 2026 is the must-see showcase at the upcoming Builders’ Show, taking place Feb. 17–19.
Oct 22, 2025
NAHB Generates Enthusiasm for the Trades During the Big BuildNAHB recently introduced thousands of students to the skilled trades during The Big Build event at the National Building Museum in Washington, D.C.
Latest Economic News
Oct 20, 2025
Non-Conventional Financing for New Home Sales Loses Ground in 2024Nationwide, the share of non-conventional financing for new home sales accounted for 31% of the market per NAHB analysis of the 2024 Census Bureau Survey of Construction (SOC) data. This is 1.7 percentage point lower than the 2023 share of 32.4%. As in previous years, conventional financing dominated the market at 69.3% of sales, higher than the 2023 share of 67.6%.
Oct 17, 2025
Better Growth, Larger Deficits: CBO Fiscal OutlookThe Congressional Budget Office (CBO) is a key nonpartisan score keeper that measures the effects of policy changes by the Federal Government. With several policy changes since January of this year, including the One Big Beautiful Bill Act (OBBBA), stricter immigration, and higher tariffs, the CBO updated its economic projections through 2028.
Oct 16, 2025
Amid Market Challenges, Builder Expectations Rise in OctoberEven as builders continue to grapple with market and macroeconomic uncertainty, sentiment levels posted a solid gain in October as future sales expectations surpassed the 50-point breakeven mark for the first time since last January.