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Congress to Vote On Another Short Term NFIP Extension This Week

The National Flood Insurance Program (NFIP) is expected to receive another short-term extension this week. The extension through November 18 is designed to give lawmakers...
September 20, 2011

The National Flood Insurance Program (NFIP) is expected to receive another short-term extension this week. The extension through November 18 is designed to give lawmakers enough time to pass the NFIP reform bill on the Senate floor and then resolve differences with a House-passed bill. Without an extension, the NFIP authorization is set to expire on September 30.

In July, the House passed the Flood Insurance Reform Act of 2011 (H.R. 1309), introduced by Rep. Judy Biggert (R-Ill.), the chairman of the House Financial Affairs Committee. It included a five-year reauthorization of the program and made a series of positive reforms. PIA endorsed H.R. 1309. It's been slower going in the Senate.

"The one thing that would be worse than another short term extension would be allowing the flood insurance program to lapse," said Mike Becker, assistant vice president of federal affairs for PIA National. "While PIA is disappointed that the Senate was unable to finish work on the reform bill, we are hopeful that this extension will allow sufficient time for final action. Our top priority is securing a full, five-year authorization for the flood insurance program to prevent the kind of instability in the real estate markets that uncertainty creates." Becker added he is optimistic, especially because the House bill was passed with a broad, bipartisan vote of 406-22.

2.  FEMA Issues Guidance in the Event An NFIP Lapse Occurs: The authority of the National Flood Insurance Program (NFIP) to issue new policies, issue increased coverage on existing policies, or issue renewal policies will expire at midnight on September 30, 2011. As Congressional reauthorization is pending, FEMA has issued this guidance in the event the NFIP experiences a hiatus.  PDF

Read the FEMA Guidance Memo re: NFIP (September 15, 2011)

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