27 Sep 2010
NFIP Extended Through 2011
Over the course of last week Congress unanimously approved a one-year extension, until Sept. 30, 2011, for the National Flood Insurance Program (NFIP). A long-term extension has been a top legislative priority for many including the National Association of Home Builders. The bill now heads to President Obama for his signature as soon as next week. With program authority now extended for a year, it is expected that attention will turn to proposals to reform and ensure the financial soundness of the NFIP. While the House passed its reform bill (H.R. 5114) earlier this year, it is unlikely that a comprehensive reform bill will move until the 112th Congress goes into session next year.