50.71—Determination of recoupment amounts.
(a)
If payments for the Federal share of
compensation have been made for a Program Year,
and Treasury determines that insured loss
information is sufficiently developed and credible
to serve as a basis for calculating recoupment
amounts, Treasury will make an initial
determination of any mandatory or discretionary
recoupment amounts for that Program Year.
(b)
(1)
Within 90 days after certification of an
act of terrorism, the Secretary shall publish in
the Federal Register an estimate of
aggregate insured losses which shall be used as
the basis for initially determining whether
mandatory recoupment will be required.
(2)
If at any time Treasury projects that
payments for the Federal share of compensation
will be made for a Program Year, and that in order
to meet the collection timing requirements of
section 103(e)(7)(E) of the Act it is necessary to
use an estimate of such payments as a basis for
calculating recoupment amounts, Treasury will make
an initial determination of any mandatory
recoupment amounts for that Program Year.
(c)
Following the initial determination of
recoupment amounts for a Program Year, Treasury
will recalculate any mandatory or discretionary
recoupment amount as necessary and appropriate,
and at least annually, until a final recoupment
amount for the Program Year is determined.
Treasury will compare any recalculated recoupment
amount to amounts already remitted and/or to be
remitted to Treasury for a Federal Terrorism
Policy Surcharge previously established to
determine whether any additional amount will be
recouped by Treasury.
(d)
For the purpose of determining initial or
recalculated recoupment amounts, Treasury may
issue a data call to insurers for insurer
deductible and insured loss information by Program
Year. Treasury's determination of the aggregate
amount of insured losses from Program Trigger
Events of all insurers for a Program Year will be
based on the amounts reported in response to a
data call and any other information Treasury in
its discretion considers appropriate. Submission
of data in response to a data call shall be on a
form promulgated by Treasury.