Sunset clause what is

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Sunset Clause Last updated: 24 September Share this page. Follow Ballotpedia. Click here to follow election results! A sunset provision , sunset clause , or sunset law is a statute or provision of a statute establishing a date on which an agency, law, or benefit will expire without specific legislative action, usually in the form of formal reauthorization by Congress or a state legislature.

Sunset provisions may be included within specific laws, while a number of states have implemented general sunset laws requiring regular review and reauthorization of government programs. This term is also used in the context of insurance to describe a limit on the amount of time a policyholder has to submit a claim on their insurance policy.

There are two types of sunset provisions: [1]. According to a Mercatus Center report published in August , sunset provisions and laws have been most popular at the state level. At the federal level, Congress has tended to use sunset provisions sparingly and for specific statutes, in contrast to the general sunset laws enacted in some states.

Starting in the s and continuing into the 80s, a total of 35 states enacted general sunset laws requiring regular review and reauthorization of government agencies and programs, beginning with Colorado in and Texas in However, some states have since repealed their sunset laws, and few agencies have actually been terminated under these sunset provisions.

They put in an offer which is accepted by the vendor. A contract of sale is drawn up. Since the couple are offering a good price and the vendor had previously struggled to find a buyer, she agrees to including the clause and gives the couple 90 days to sell their house. Three months pass and the couple have still not sold their current home. The couple decide to invoke the sunset clause and walk away from the contract.

The vendor finds another buyer. This information has been prepared as a guide and does not constitute legal or financial advice. We recommend seeking professional advice before signing or undergoing contract negotiations. At Finty we want to help you make informed financial decisions. We do this by providing a free comparison service as well as product reviews from our editorial staff.

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