Earthquakes Legislation - Federal Government

Policyholder Disaster Protection Act of 2007 - Amends the Internal Revenue Code to allow insurance companies (other than life insurance companies) to make tax deductible contributions to a tax-exempt policyholder disaster protection fund established by this Act for the payment of policyholders' claims arising from certain catastrophic events, such as windstorms, earthquakes, fires, or floods.

Homeowners' Insurance Availability Act of 2007 - Instructs the Secretary of the Treasury to implement a reinsurance coverage program available only through contracts for reinsurance coverage purchased at regional auctions.

States that the purpose of the program is to improve: (1) the availability of homeowners' insurance for the purpose of facilitating the pooling, and spreading the risk, of catastrophic financial losses from disasters; and (2) the solvency of the homeowners' insurance markets.

Prescribes implementation guidelines that include establishment: (1) in the Treasury of the Disaster Reinsurance Fund; and (2) of a National Commission on Catastrophe Risks and Insurance Loss Costs.

Commission on Catastrophic Disaster Risk and Insurance Act of 2007 - Establishes the bipartisan Commission on Catastrophic Disaster Risk and Insurance to assess: (1) the condition of the property and casualty insurance and reinsurance markets in the aftermath of Hurricanes Katrina, Rita, and Wilma in 2005, and the four major hurricanes that struck the United States in 2004; (2) the ongoing exposure of the United States to windstorms, earthquakes, volcanic eruptions, tsunamis, and floods; and (3) recommend and report legislative and regulatory changes that will improve the domestic and international financial health and competitiveness of such markets.

Policyholder Disaster Protection Act of 2007 - Amends the Internal Revenue Code to allow insurance companies (other than life insurance companies) to make tax deductible contributions to a tax-exempt policyholder disaster protection fund established by this Act for the payment of policyholders' claims arising from certain catastrophic events, such as windstorms, earthquakes, fires, or floods.

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

Mourns the loss of life and human suffering caused by the May 2008 earthquake in the People's Republic of China (PRC).

Expresses deep condolences to the people of the PRC and to all those affected by this enormous tragedy.

Calls on the President to respond to any requests for humanitarian assistance made by the government of the PRC, and stands ready to support the provision of additional resources to assist those impacted by the earthquake.

Extends condolences and sympathy to the people of the People's Republic of China (PRC) for the loss of life and destruction caused by the earthquake centered in Sichuan Province.

Vows full support for the people of the PRC as well as the members of the Chinese American community who have relatives in the affected areas.

Expresses confidence that the people of the PRC will come together to help those in need and succeed in overcoming the hardships incurred because of this tragedy.

Additional Safeguards For Lease and Development of Non-Excess Property of Military Departments Act - Prohibits the lease of non-excess land that is under the control of a military department if the land is located in an area designated UBC Seismic Zone 4.

Provides for an exception if the Secretary concerned determines that seismic activity would not have any significant impact on any portion of the proposed development under the lease. Prohibits such Secretary from omitting a revocation provision from a lease allowed under this exception.

Requires revocation of previously-approved leases in such zones unless a lease is under substantial construction or the Secretary determines a lease should not be revoked.

Urges the U.S. government to continue to support rebuilding efforts in Pakistan in response to the earthquake that occurred in northern Pakistan on October 8, 2005.

Pakistani Temporary Protected Status Act of 2007 - Expresses the sense of Congress that the extraordinary and temporary conditions caused by the earthquake in Pakistan qualifies Pakistan for designation under the Immigration and Nationality Act pursuant to which its nationals would be eligible for temporary protected status (TPS) in the United States.

Designates Pakistan as a TPS-eligible country for an initial 12-month period.

Sets forth related TPS eligibility requirements, including continuous U.S. presence since October 8, 2005.

Requires the Secretary of Homeland Security to give prior consent to such aliens for temporary trips abroad in emergency and extenuating circumstances.

Policyholder Disaster Protection Act of 2007 - Amends the Internal Revenue Code to allow insurance companies (other than life insurance companies) to make tax deductible contributions to a tax-exempt policyholder disaster protection fund established by this Act for the payment of policyholders' claims arising from certain catastrophic events, such as windstorms, earthquakes, fires, or floods.