The Senate approved legislation Saturday that includes a provision extending the authorization for the current National Flood Insurance Program until March 6, 2009.  If the provision had not passed Congress, the program’s authorization would have expired this Tuesday night, the end of the current government fiscal year. The House passed the same extension last Thursday.

The short-term extension comes in lieu of a five-year reauthorization and reform. The House passed a comprehensive reform bill almost a year ago and the Senate acted on its version in May. The Senate version of the bill would forgive the program’s $17.5 billion debt without offsetting that cost, as required under the rules, but the House version would not do so. The House version would expand the program to allow optional insurance against wind damage.

PIA supported the extension bill. On the comprehensive reform bills, PIA supports debt forgiveness but opposes the wind provision.

Flood Insurance Program Extension on Way to Bush (CQ Today 9/27/08)

Congress Extends National Flood Insurance Program Until March