The National Flood Insurance Program (NFIP) will once again be extended, but this time for a period of six months, during which the House will introduce a larger reform and reauthorization bill. Currently, the Continuing Resolution that is keeping government spending at flat levels until appropriations bills can be passed, includes an extension of the NFIP until December 18, 2009. House leadership staff has indicated that the program will be temporarily extended until June 30, 2010, as part of an omnibus spending bill that will be passed before the current funding expiration of December 18.
During the next six months, NAMIC members can expect to see reform and reauthorization legislation introduced in the House. In addition, the House Financial Services Committee has already indicated that it plans to hold field hearings on the NFIP in the spring in order to further advance the bill through the legislative process. The Senate is likely to take up NFIP legislation following action by the House.
It is crucial that Congress fix the NFIP by forgiving its accumulated debt and not expanding it to include wind coverage. NAMIC will continue to fight for proper reform and long-term reauthorization of the program.
Please direct questions to Kathy Mitchell.
Posted: Tuesday, December 01, 2009 12:00:00 AM. Modified: Tuesday, December 01, 2009 12:40:45 PM.
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