Thursday, May 31, 2012
National Flood Insurance Program Extension Act Passed by Congress
Late yesterday (May 30) the House voted to pass H.R.5740, the National Flood Insurance Program Extension Act, by a voice vote, concurring with last week's Senate action, and sending the measure on to the President for his signature. The bill extends the authority of the National Flood Insurance Program (NFIP) from May 31 until July 31, 2012. The NFIP had been slated to expire today (May 31), and the extension gives Congress two more months to develop a long-term reauthorization and reform strategy for the debt-burdened NFIP; a program that provides insurance for homes and businesses in areas subject to flooding.