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Flood Bill Could See Action in Senate This Week

It is possible that S. 1940, a bill to reform and extend the National Flood Insurance Program (NFIP), could see action in the Senate this week
June 26, 2012

It is possible that S. 1940, a bill to reform and extend the National Flood Insurance Program (NFIP), could see action in the Senate this week. On Thursday June 21, the Senate voted 96-2 to invoke cloture, clearing the way for a floor debate. Several amendments to the bill may also be introduced and debated.

On June 20, PIA sent a letter to U.S. Senators urging them to support S. 1940. You can read PIA’s letter to senators here.

U.S. Sens. Thad Cochran (R-Miss.), Mary Landrieu (D-La.), Kay Bailey Hutchison (R-Texas), and David Vitter (R-La.) reached a compromise with the leaders of the U.S. Senate Banking Committee on how the insurance treats homes in areas protected by government levees. The compromise delays mandatory coverage for homes protected by levees until the Federal Emergency Management Agency finishes developing new risk assessment tools to provide homeowners with credit for the strength of the nearby levees.

On Monday June 25, the Obama administration announced its support of S.1940 in a statement. “[T]he bill would strengthen the NFIP’s financial position and increase its ability to fund future claims,” the statement said. “The bill would also reduce flood risk and increase the resiliency of communities to flooding. As the bill moves through the legislative process, the Administration looks forward to working with the Congress on additional reforms to strengthen the NFIP and help economically distressed homeowners in a manner that is consistent with the President’s budget.”

The House passed a long-term reauthorization last July by a vote of 406-22.

See PIA's full NFIP letter to Senators: PIA NFIP Letter to Senate (PIA 6/20/2012)

Read the White House's state on the Senate's flood bill: Administration Statement of Support for S. 1940 (6/25/12)

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